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21 December 2024 | 14 replies
Yes I could do a generator but that is more bother, tell the tenants to turn on the fireplace.
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20 December 2024 | 9 replies
The wheels turn slowly.
20 December 2024 | 4 replies
If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general.
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22 December 2024 | 12 replies
My real estate journey began in 2010 with a three-family property that I lived in, renovated, and eventually turned into a profitable rental before selling it via a 1031 exchange to purchase a short-term rental.My current goal is to acquire my first multifamily property using private lending by Q1 2025 and grow my portfolio using the BRRR strategy.A question for the community: What’s been your most effective way to connect with private lenders for small multifamily properties?
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18 December 2024 | 4 replies
The tenants are currently in court with a title dispute so the house would have to be paid for cash only.I would like to convert it to a primary residence and turn the garden level into a separate two bedroom apartment for use as an in law suite.
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23 December 2024 | 10 replies
Writing them down turns your ideas into tangible objectives you can work toward.
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20 December 2024 | 3 replies
The airport had the buildings (from when federal gov turned the land over to the Airport Authority after WW2.) and allowed the current "owner" to spend a few $M improving the buildings.
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21 December 2024 | 6 replies
They sold two appreciated duplexes in Dallas and we turned them into 8 units in Mesa, AZ with higher cash-flow, and much closer proximity to Southern California.I'll add to your Phoenix "pros" list:1) Landlord friendly rental rules2) Easy evictions in < 30 days3) Rents are rising faster (on a % basis) than many other metro areas4) Low property taxes (and the property taxes don't sky rocket after a purchase as they do in CA)5) Very low vacancy and extremely high tenant demand.
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15 December 2024 | 12 replies
And keep in mind that the rate on the 2nd lien will likely be 10-12% so depending on the cash flow it might not actually yield that much cash to you at closingMore importantly, it's just more debt so ultimately it sounds like you need an income-producing event to actually improve your situation and avoid some of the consequences that you mentioned
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20 December 2024 | 27 replies
You can only play games for so long.Chances are your next door neighbor is an IRS agent and turns you in when your tenants blocks their drive or some other random event disturbing your IRS neighbor.ADU catches fire and your insurance won't cover you, because it was an illegal and unpermitted structure.The city inspector told the last guy not to build or rent it, and is now pissed and wants to make an example of you and just red tags the whole property and no one can occupy for the next 1-2-3 years while you wait for a hearing.Then when you get the hearing, "staff" recommends you tear the whole structure down, and if you still want an ADU, you can apply for a permit and rebuild it.Your tenant quits paying rent and won't move out and you can't evict them, because there is no valid lease and they're just your "roommate".Probably a dozen other bad things can happen to you when you do stuff like this.