All Forum Posts by: Lane C.

@Luke Carl how expensive was the property if you don’t mind me asking?

@Angel Moreno is there room to improve the duplex and raise rents? I have two duplex’s in illinois both were rented well under market rate when I bought them Im renovating the units and have raised rents by 750 dollars per unit for the units that have been renovated. My cash flow is crazy good and additionally I’m adding egress windows in two bedrooms to increase the value of the properties and essentially cash out refi the price of the renovations. You might need to get creative with it and see what you can do

@Claude Vargas if you’re looking to generate that kind of passive income I would jump into short term rentals. Buying long term rentals that cash flow at 300 dollars a month will take far longer to achieve that point. Also based on my experience with long term rentals that cash flow a few hundred a month all it takes is one big expense to wipe out your cash flow for the whole year.

@John Underwood realistically I would like to list it 2 weeks or so before closing

@John Underwood I get that which Is why I’m wondering if it’s even allowed. I have no contingencies on the contract so it seems highly unlikely it will fall through.

Im under contract on a property I plan on using as a short term rental via Airbnb. The sellers aren’t able to close until June 20th for various reasons. It just so happens June, July and August are the peak months. I was wondering if anyone knows if you can set up a listing for a property before closing (obviously for guests to stay after I have closed on the property).

@Lynne Burke out of curiosity where did you end up buying?

@Jose Rocha I’ve never used that calculator so I can’t speak to that but I would look into some metrics on how a property in big bear would cash flow via airdna data.rabu mashvisor or something along those lines. They’re not going to be 100% accurate (airdna is probably head and shoulders above the rest) but that’s where I would start. I’ve ran numbers on a number of properties in big bear and they just never made sense for me but I’ve heard some people make a killing

@Michael Weigum do you suggest condos or sfh? Also what kind of cash on cash have you experienced from this market?

@Jose Rocha what are you projecting for your cash on cash on your property? Have you ran numbers yet?