All Forum Posts by: Bryce Hammill

This would be the part that worries me. You basically have to be booked full time to make it work. (assuming you don't convert the other two rooms.) What if you have two months and it doesn't rent or multiple rooms a month? That point you're paying big money to keep this property afloat. 

Its a big positive that your wife is the one that places the traveling workers. This will help when placing workers. One downside is there is ever a problem they will tell there co workers about the problems. This could cause a reduction in new prospective tenants. 

I grew up in the area and currently have LTR in Apple Valley. My sister and her husband are both traveling nurses. There is a reason why you're not going to get a ton of traveling professionals up there. Most are going to be down the hill. 

Another thing is I would be cautious of running numbers with all 7 rooms booked. What would happen if you get into a slow period and only 2 or 3 people book? Do you see traveling friends renting a full house instead of just a room?  Do you see them renting a room at 1500? Any evidence to support that number?

I believe they are closing down St Marys and a Kaiser, and building a new hospital by 25 or 26. Will this affect your prospective tenants? 

These are a few of my thoughts. Overall I think having MTR would be a good for the area. I would just be cautious with rental prices and vacancy rate. Happy investing. 

PV is a hidden gem of Los Angeles. Most people have no idea about the area. Pretty quiet area with an above average median income and great schools. Overall this should be a great investment for you, even with all the crazy laws. 

There used to be a pints and property meet up in Torrance. I don't know if its happening anymore as I think the last meet up was in May. 

I know there are meets ups from time to time in Torrance. One I believe this Saturday in Torrance on multifamily investing. Remember reading a thread about it. 

I had a pretty similar situation and this is my take on it. If your inherited Ira is 50k I would be comfortable cashing it out and paying the taxes on it. Having a high w2 will help as well. You can write off some of the taxes with the new property. Just be aware you could have a tax bill and to plan accordingly. 

If you're cashing out 500K, that doesn't make sense to me. That will generate a massive tax bill. I can't see paying 100k plus in taxes. You will have to run the numbers, but its probably not going to make sense from a numbers perspective. 

This I very much agree. I’m looking to hold long term, as I feel like he’s looking for a place to park funds for 2-5 years. This would mean I need an exit strategy. What my exit strategy would be at the moment I’m unsure of.  

Had a few questions about structuring a partnership deal. Found a property (third) that I'd like to buy and hold. Talked to my lender who also happens to be my neighbor about all the numbers on the property. I'm slightly short on having the funds for the down and repairs needed. He offered to put up half of the money needed and split the deal. Property is out of state and we would use the team I already have in place to mange the property. Property would conservatively return 10%COC.

Does 50/50 split sound fair? Would you adjust anything?

Anyone have any reading material they can point me towards?

Buying as long term holds. With the higher interest rates, it has just limited the number of actual deals out there. They are still out there though. Also made a shift to OOS buying, instead of buying local. Local numbers just don't make sense anymore. 

 I wouldn't worry about rising rates. If the numbers work its a deal. Then when rates go down it will be a really good deal. Otherwise I feel like its to easy to say Ill wait tell this or that happens. 

Probably not gonna hit a home run on your first deal. But it will get you on base and in the game. 

 If you have any questions about the process let me know. I'm in for grabbing a coffee/beer and chatting.  I'm pretty local to you and invest out of state.