All Forum Posts by: Vinay H.

Unfortunately, this deal does not make sense as a buy and hold. A few things to do:

a) if you are buying cash, you need a bigger discount than the 115k market value. Typical cash purchases with minor rehab should be at least at a 20% discount to ARV. Why pay list/market value when you are buying for investment?

b) you really need to validate than rent and vacancy number. With the 2.26% return, any slight increase in vacancy or downturn in rental market will get you under water very quickly

c) finally, if you are going to be managing this remotely and/or relying on property managers to make representations on the quality and desirability of the tenants, it will further increase your risk.

All in all, @Kelly Pierce this looks like one to avoid.

What are your reasons for selling? Do you think the CA market has peaked? Do you think you will be able to make a better return out of state? Are you tired of managing the SFH?

You need to run the numbers and let us know. How much equity and what is current rent... If that number is less than your target (say 5% annualized return - not counting asset appreciation) then it may be time to shift into a more productive asset ....

Looks great. 3.5k rent on a 265k property? I need to move to AZ!

It depends on the size, complexity and condition of the floor.

If it is a rectangular room with carpet then easy. If the floor is uneven/sagging, needs the existing tile to be ripped and subfloor replaced, then you are in for a lot of work.... Please describe and post pictures...

Congratulations, You are a lender as well? Did you broker your own loan or is there some restriction against doing that?

I think this sounded more like an article attributing everything that is going right with Trump. Nothing wrong with giving Trump credit but then saying the "Democrat media" won't report on that is a little one-sided.

The conclusion is a mish-mash of wishful thinking and political rhetoric. 

The economy in 1999 was arguably just as good but then we found out that it was a big bubble a few months later .... Ditto 2006.... So I am going to classify this more as opinion piece than research or analytics ....

 "A first thought many of us have is that the US economy is too strong to stop – a new economic locomotive with momentum. It’s partly powered by the relief of decades of economic evil and by the old belief (babyboomers) that the US should be strong and independent.

Some have felt Asia should lead the world. There’s something extremely unpatriotic about that.

Even if Trump disappears, the America first agenda will continue. The people will ensure it happens. There’s no going back to the poverty, debt and hopelessness, particularly for the forgotten in the rust belt and midwest." 

 I think if the foundation issue is genuine, then you dodged a bullet and 23k "paper loss" is probably offset by the headaches you would have had with

a) Trying to sell the house, staging, etc

b) Having any potential offers back out when confronted with foundation repairs

Only time will tell. How much is the Zillow listing compared with the price Opendoor offered? Also don't forget, an AS-IS listing will attract significantly lower offers than asking and sit on the market for ....

Yes there is a chance that Opendoor totally pocketed the repairs but let us see how long it sits on Zillow and what is final selling price - do update us...

Looks great for 15k purchase price

Check local ordinances. Sometimes, Additional or accessory  Dwelling Units are allowed but local owner must still occupy the residence.

What are the numbers?  What are the potential rents?