All Forum Posts by: Brandon Carlson

Hi BP,

Yesterday I met with a client of mine that wants to list their mother's home. It's in a desirable area with limited inventory. The school districts are award-winning and within walking distance to elementary, middle, and high schools.  The home has a tremendous amount of character but it's all traditional, dating back to the '60s. The comparables in the area sold for $75k - $100k more than what I plan on listing it, but those homes have been renovated within a 5 year period. 

My question is:

Would you stage the home?

What has your ROI been when staging compared to not staging?

What factors do you consider other than the comparables when deciding to stage?

Thank you

@Greg M. another question for you. If my intentions are to move in,  how would I go about removing them from the unit? Would sheriffs or police need to be involved? Lastly, what would a relocation fee consist of?

Thank you

@Greg M. Thank you for your input, I truly appreciate it. 

@Cesar Ruiz thank you for your comment!

Hi BP,

So I found an amazing property in a sought out area in Southern California (Los Angeles County). The issue is, the listing agent said the tenants aren't paying rent and haven't done so in a few months. Tenants are on a month-to-month lease agreement and have occupied the property for several years. 

The owner and agent have attempted a cash for keys option to remove the tenants. When asking the Realtor what the dollar amount was, she said a few thousand dollars (seems low). They have not received a response yet from the tenants. 

My question are:

- What options do I have if I purchase the property with tenants in it? This will be my primary residence, would this help me evict them?

- If the tenants didn't loose their job due to COVID can they continue not to pay rent? According to the Realtor, social security is their only means of income. 

Any recommedations or ideas would be greatly appreciated. Thank you!

@Brock Jenkins Congrats on pursuing an investment property. To your point, it can be difficult to find duplexes in nice areas. Years back, I started by house hacking my SFR, which turned out to be a great decision. It was difficult with the girlfriend though lol. ADU is a great option. The thing to keep in mind is material cost. Lumber has gone up over 140%, steel, and copper are at an all-time high. I decided to pull out from building my ADU due to the cost associated with it.

I would suggest looking for homes that have alley access. This will allow more privacy for you and your tenant as they exit/enter the ADU. If I can help you in your search, don't hesitate to ask.

Best,

@Scott Brewster not sure if I'm too late for the party. I know the Chino area well. If I can be of any help, don't hesitate to reach out. 

Best, 

@Dalton Schwentker congrats on the graduation, that's a huge milestone! Any information you can provide would be greatly appreciated. I will send you a message now. 

I read it over the weekend. Has some great nuggets. One I liked in particular, was helping your clients move. 

Hi BP,

I'm on the fence about whether I should purchase an SFR for a rental or Airbnb. I have identified some areas in St. Louis that meet the 1% rule, and quite honestly, I would be okay with those returns. The more and more I hear about short-term rentals and the cashflow you can earn, my interest has gravitated towards Airbnb.

Below are a few questions I have about Airbnb in St. Louis:

1. Has anyone had experience with Airbnb?

2. How has your experience been with guest/Airbnb

3. What should I know before purchasing a property?

4. How does COC return compare to Airbnb?

5. How do you manage the property?

I appreciate any input. Thanks

Thank you gentlemen for your response.