All Forum Posts by: Tyler Caruso

Doug Lorenz Accurate Dimensions.  Used him on two projects.

233 S.W. Greenwich Drive
Lees Summit,MO64082

(816) 304-5375
www.accuratedimensionsconstruction.com

Why just pick one investment method????

I own rental homes in both cash flow markets (Kansas City,Texas, and Indianapolis) and appreciation markets (Las Vegas and San Diego).   I believe both have their pros and Cons so rather than try and pick one I diversify. 

The properties in the Midwest vary from a 26k home that rents for 650/month to a 85k newer build (2003....appraisal for 125k when I bought) that rents for 1200 per month and everything in between. 

I have had my problems in the appreciation markets (tenants trashed the place and stole all the appliances) and the cash flow markets (hail damage, trees falling on houses/cars etc. )

I wouldn't say one is "better" than the other, but I do believe I diversify my risk by being in different markets. 

I am in the process of purchasing an office/industrial condo for my business.   I am thinking about buying more space than I need and renting out the other half to another business.  The property would be in Vista CA and the portion that I would be trying to rent would be roughly 3600 square feet (1800 square feet office and 1800 square feet warehouse).  The unit was built in 2000.

This would be my first commercial rental so I am curious what a realistic timeline would be to place a tenant.   I would price it aggressively on the lower end per square foot.   Any feed back would be appreciated. 

Thanks, 

Tyler

Hi Tammy,

Send it my way  and I would be happy to share my thoughts.

Tyler

Hey guys thanks for the responses.  It's actually a beneficiary ira so I am limited to what I am able to roll it into.

I had some funds remaining in my self directed ira and wanted to see if this would be an acceptable transaction.

Here's the scenario:

Tyler's (me) Ira lends 50k to John (made up individual) via secured promissory note

John’s ira lends 50k to Tyler (me) via secured promissory note

John wouldn't be a family member.

Is this an acceptable transaction?

Thanks

Why not look in areas like Raytown, Independence or Grandview? I have picked up rentals in those areas for around 50-60k including rehab and they rent for 850-900. These aren't particularly excellent areas, but they have decent schools and lower crime then the KC city properties.

Jonathan,

At the $600/month price point it's very common for tenants to not have the full $600 security deposit. There is no right or wrong on this, but if this is a requirement to lease your place you might have the unit sit longer. I choose to take the tenant because I realize most of these tenants are living paycheck to paycheck. I make sure they are making enough income (we require 3 times the monthly rent in gross pay) to cover the monthly rent. I also, make sure a deal is in place to get the security deposit by the start of the second month so we will accept half of the security deposit up front and the other half the following month.

USLI allows up to 25....

Need some help with Umbrella insurance. Currently, I have a personal 2 mil. umbrella policy that covers my house and 25 of my rental properties. They have capped me here and I was hoping somebody can point me in the right direction of a good Umbrella insurance company that will cover additional properties. Thanks