All Forum Posts by: Brandon Hopkins

@Karen Margrave Are you sure a sub meter calculates based on the usage of both meters? We're actually considering getting 3 total meters (main house, guest house, domestic well). The well doesn't use as much energy as expected and our house has more solar than necessary which will likely lead to us having a negative bill most years. The previous owners put in (and paid for) a system that was designed based on their usage which is significantly greater than ours.

You might be able to split into two meters. That's what we're doing right now. Only took a trip to the PGE office.

Originally posted by @Brent Coombs:

A friend of mine in Australia bought a home in Youngstown late last year for around $8k, which we visited in May. It needed more work than hoped for, but through contacts made here at BP he was able to line up Contractors and a Property Manager, and get the utilities going. It is now generating $465/m and he is well on his way to BRRRR if he so chooses - even if he never visits Youngstown again. It CAN be done. Cheers...

Thanks Brent, being on site would definitely make BRRRR possible. I won't be on site (and don't want to be!). I've found a few properties that I think can be purchase under ARV and will look into them along with possibly selling the condo.

Thanks guys!

@Joe Villeneuve Sell or refinance? The returns are not that great and I'm not opposed to selling. Rents for $700, HOA of $220, PM is $70. Some friends are renting and he takes care of the minor repairs.

@Brent Coombs The condo was my first investment. It was available and I had the cash. Definitely a learning experience for me, one I wouldn't buy again. You said option 4. Can you do a rehab at a distance without people in place already?

Anyone else?

I own one local and one out of state. I want to sell my local because the returns are paltry in comparison.

Hey all! I currently own a condo and a SFR out of state. Both were purchased last year as investments. I paid cash for the condo and put 20% down on the SFR.

I want to increase the number of properties I own in order to increase cash flow.

Condo (local) - Paid - worth about $70k

SFR (out of state) - Owe $28k - worth about $40-50k rents for $625/month.

What is the best way to buy a couple more SFR's out of state?

1. 1. Line of credit, maybe unsecured?
2. 2. Sell the condo, use that as 20% down for 2+ rentals.
3. 3. Save and buy one as I have the down payment.
4. 4. BRRRR - Main problem is that I'm far away and don't really want a big rehab where I can't be there to hire/step in.

Suggestions? Am I missing a good option? Thanks in advance for your thoughts!

Get a job? That would give you income to invest in real estate. I don't mean that to sound harsh or rude, just a thought. Investing in RE can be done with no money, but it's easier with money.

What did you put into it and what is it renting for?

I had rubber bark at my house for 8 years and loved it. It was playground quality, no splinters, no fading and it didn't float away. It did get hot in the direct sun (we get 110 degree days here). We put down weed cloth and never had weeds.

Get a job? That would give you income to invest in real estate