All Forum Posts by: Austen Carroll

@Nicholas Schwarte

Creating Wealth by Robert Allen

Mainly covers being a business owner. Your real estate venture will be your business. I think it has a lot of good lessons on expectations and how to be the owner of your business i.e. creating systems to help automate and manage

No Experience with BRRRR.

I'm active duty military so I've bought and sold a few props with the moving from base to base. I traditionally financed a REI rental in Salem (which I still hold).

I'm out of state, living in NC, got about 100k saved and want to BRRRR. Just hoping to chat about OR's market.

I'm partial to buying and holding in OR mainly because I have a solid deal finder, lender, and PM I'd like to keep working with.

Not entirely opposed to investing in NC

Just doing more research and looking for local BP expert knowledge

@Jennifer Roberts

Hey Jennifer,

Military person here. I think the intent on aiming for mil tenants is a good and common idea. They have a steady paycheck, the get housing allowance etc

I'm no where near in the area of expertise on whether you should or shouldnt... that def depends on the numbers you crunch/market.

Just wanted to let you know if you didnt..... fed law says if we're deploying or relocating then we can void any contracts and or leases with no fees/penalties.

So if you get a tenant who up and deploys for 9 months.... bam they're allowed to bail on that year lease they just signed. (Just an example)

Last bit..... its just a nugget of knowledge for you, I'm sure you'd be able to find a new tenant quickly

@Jon Arsenault I'd put the money towards another cash flow asset. I'm considering the Virginia Beach market. Just moved to NC so I'm still getting a grasp for the place. I could try to enter Raleigh but honestly I'm thinking more short term rental in VB..

Or maybe both

@Steve B. Yeah I received a BS moving into the area cuz my friends mom's dad's cousin has cancer and my four kids are all autistic letter ... Wasn't even close considering that one lol

@Anthony Wick thanks Anthony. That's how I feel. Do you realistically come up with numbers for your assets? How is that process?

@Steve B. No not postcards. Actual people get my number somehow and ask if I want to sell my rental.

@Michael Noto

Thanks. We definitely are open to receiving offers now. Just don't want to accept an offer cuz it's a hefty check, when it's smarter to hold onto the asset in the long run

@Brent Paul

Thanks. I'm still leaning towards keeping it. Just trying to generate an idea or HOW much is enough to get me to let go of this asset. Like if someone offered me $265-280K for the house should I consider it?

So far I haven't heard any actual offers. The conversations have all stopped with me saying " thanks, we're not interested in selling "

So now we're entertaining of saying " what's your offer?"

@Mike Dymski

I bought the house for $168 K in 2016.

Zillow estimates value is $218K right now.

My mortgage ( including tax and insurance) is $831.00

I had tenants in from Jan 2016- July 2019 with a steady rent of $1245.00.

They just moved out. Gonna clean up the house, repaint, and upgrade a couple appliances

I'm going to increase rent to 1450.00 which is what my manager recommends.

Also, my manager takes $125.00 from rent.

Newish roof, no crazy repairs or maintenance forecasted.

The address is 760 E st NE Salem, OR 97301

That's pretty much all the numbers I have for the property.