All Forum Posts by: Todd Rasmussen

I wouldn’t fix the driveway, the major hole does not seem to be in a walking path nor where someone would enter or exit a vehicle. It looks bad so I’d do it in the next couple years assuming the whole neighborhood doesn’t look like yours. I would do something about the walkway if that’s the main path to get to the house as it’s highly traveled and therefore has a more significant risk of loss.

I would worry that you are training your tenant that lease renewals result in upgrade requests being granted and id be quick to offer them a lease cancellation for convenience if they didn’t feel safe in the house. Usually language along the lines of this lease renewal was offered based on the current condition and finishes of the home as it is today. If you’d like a new driveway, we would consider installing one based on a $xxx higher lease amount.

By responding and fixing the pathway Issue you show that you make repairs reasonable to keep the property maintained in a safe condition upon discovering that a condition exists. For the same reasons you can articulate why you needed to fix the walkway you can articulate why it’s reasonable that the driveway does not pose a safety risk. I would hang my hat on the reasonableness of that action but it’s your house and your risk so also your decision.

If your strategy is the owner financing, you will have severely cut your buyer’s pool. I don’t know of any bank that would lend in second position for a construction loan. Most builders that have the resources to build one with cash on hand might be too big to be interested in a one off…

@Cooper Cheon

I started investing out of state around 2018 from Los Angeles County. For me it was a great strategy because I am a DIY type. So by being greater than driving distance, I couldn’t spend valuable time getting stuck in low return tasks and could only focus on managing the business, managers, contractors, acquisitions, etc.

Some difficulties are that no one will care about your property as much as you and that’s reflected in inefficiencies you will experience mostly through substandard contractor work that gets approved and paid by whoever your agent is. Purchasing a rental, even an out of state one is not fully passive without being expensive so you should plan on actively managing your investment by continually analyzing your performance to build a better equation for analysis of future deals.

Also, if you gain traction and start to scale, eventually the long distance inefficiencies become an opportunity cost you cannot afford so make sure you choose a market area you’d like to live in once you hit early retirement. I wouldn’t move until you were ready to quit a w2 though. Paychecks in CA are way higher.

 Clarifying for future readers since there seems to have been some confusion…

Your LLC name

First Last, Title

@Olivia G Gonzalez

You can invest in real estate without the deal analysis piece if you are investing in notes and things like that, but not to make the returns you'll need to return 2k a month on 150. Stick to your friend like glue and run as many deals as possible to get the experience. Math is how you evaluate everything in business and real estate is no different. Don't think you have to give up the dream, just make sure you are ready to get in.

@Mostafa Khalifa

Like this:

IBuyHousesCash

John Doe, Managing Member

@Todd Wines

I'm getting ready to sell six units in Clarksville, TN. 3 duplexes on 2 adjacent parcels. Shoot me a message if you want the info sheet.

@Jon Vanspronsen

Subdividing is normally easy. Just making sure you only need to subdivide or are you trying to rezone as well? Talking to local civil engineer worked when we did it in Montgomery county. Let them know what you are trying to do and they'll tell you what order to do it in or if it's likely to succeed or not.

@Juan Ayala

Are you selling a property you own sub to or wholesaling a property sub to?