All Forum Posts by: Stefan Folkert

Hi guys,

starting my real estate journey in the us after some Caribbean adventures. 

i am looking at turnkey and exploring options.

I'd love to hear more about Nebraska. And general experiences.

Sounds good!

@Justin Blumenthal

Hi Justin.

I've been exploring the Avrame option for a while now and have several ideas for myself.

How did it go with your plans?

In regards to keeping tenants, I've heard many say to have them kicked them out by the seller. 

That way a refurb can give an immediate raise in value ( refinance) and the rent can be raised to market value. 

I guess it depends on current and ARValue and current vs market rent price.

Opinions?

Is the rent up to date or Is there room to increase the rent?

This might lower your loss or get it to become break even.

I bought a new build on a Caribbean island, it was planned with solar water heating and solar panels on the roof. 

No battery, the electric solar panels go through an inverter so the whole system is still dependent on the grid.

The price was about 10.000 for both. Any excess is fed back in the grid and is taken off the electricity bill.

I don't think it was a selling point for the tenant per se but it is a nice extra. Electricity bill comes in as usual and is paid by the tenant so no extra hassle there.

I would do it again, it is a great feeling doing the right thing and all. Financially it is just about even, no loss or gain. I am able to ask a good rent (but that is also because it is a new build).

i am not a seasoned investor as yet with only 1 sfh and a second on the way, but having educated myself thoroughly here's my opinion. 

I'd buy a property with say 25% down. Of course make sure the numbers work for cap and coc.

Buying a property that needs 50k down as 25%, leaves you with 150k. You now have reserves, a cash flowing property, a great hands on experience/school that will allow you to do a second property much better.

And then in maybe a year rinse and repeat. If the numbers worked you can get a total of 4 properties in the same range and spread out the purchases over a year or 2.

You spread out the risk of vacancies, major repairs etc, have more equity growth and tax benefits. (As mentioned in previous comments).

The first property might also make you realize you want/need something else in your market. (More or less expensive, different area, multi etc).

House hacking is a great idea but if you can and want to live at your parents for a bit longer makes even more sense financially. 

I have a good friend living in Dania.

he helped me in the past looking for a property there. We in the end went to the Caribbean.

Let me know if you want to connect. 

Very nice! A great result. Is there any chance you could share the costs of this kitchen refurbishment?

Maybe google "recycled countertops".

Some great articles show up giving you pros and cons.

Could even be an extra selling point, going the eco route step by step.