All Forum Posts by: Amanda McKane

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $100,000
Cash invested: $12,500

Purchased property off-market, renovated kitchen and bathroom, interior paint, exterior fixes. Brrrr'd to pull initial investment back out.

What made you interested in investing in this type of deal?

This brick home property is in a good blue collar neighborhood with great bones.

How did you add value to the deal?

Updating the kitchen, bathrooms, interior paint and removing debris in the front and backyards.

What was the outcome?

This property appraised over our initial projections allowing us to pull out more than our intial investment and re deploy capital for the next deal.

Lessons learned? Challenges?

We positioned this property for Section 8 to get higher rents at the time, based on the demand in the rental market we would not have needed to go through their onboarding process to achieve those rents.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Our property managment team, The Home Co. Az is a great asset to getting quality tenants and the highest in market rents.

@Steve Stone have you made any progress in the Malaga market? Would love to hear more.

I've had success with my 6 Tucson Rentals with The Home Company Az, the owner, Gina Palmer is fantastic to work with and knows the market, trends and demand well.

I've had success with my 6 Tucson Rentals with The Home Company Az, the owner, Gina Palmer is fantastic to work with and knows the market, trends and demand well.

The rental demand in Tucson right now is insane!  Fortunately each property that I rehab is getting a lot of interest and we've been able to identify a quality tenant with-in 3-4 days.  As previous posters have stated, Tucson has some tricky areas but it for me, after looking at other markets, I was called back to my hometown of Tucson once I took into account that we deal with far fewer upkeep issues (mold, water damage, foundation issues, hurricanes, tornadoes, wildfires, landscaping, etc.,).

I own an STR in the Tahoe City area. It has been a very productive property - I used the Moore Real Estate team at Corcoran Real Estate as their team is well versed with STRs and was able to guide me in which properties would work best and why (parking, snow loads, driveway directions for ice, neighborhood tolerance for STRs, county permitting, etc.,).

@Doreen M ODonovan

I just designed a 3,000sqft STR for a client in Lake Tahoe (in a similar 3 week turnaround to be listed by Thanksgiving), I estimated $50k for furnishings and came in at $30k + $8k design,sourcing and installation fee (with Covid delayed required a lot of running to find available pieces).

It's a pretty good estimate of what you'll look to spend to furnish an STR of that size nicely. I'm a big believer that you attract the type of guest you want to host.

@Kenton LeVay another hidden gem right near Reno on the way to Truckee is Verdi. Heating up but still some gems to be had.

@Kelly Claiborne

I’m currently unemployed due to the pandemic so I’m trying to navigate how to secure a loan- I have the 20% down, own two cash flowing properties (purchased as a primary) but now need to get creative with financing. On the hunt for seller financing - ideas welcome!