All Forum Posts by: Conner Olsen

Looking for some discussion and philosophies regarding when to continue operating a rental versus selling.  Here's a property scenario for consideration:

2bed/1bath purchased in 2019.  Owned outright with $63,000 all-in, currently rents at $1200/mo with a current value of $200,000 today.  

2023 Performance: $13,650 gross income, $1,650 expenses, $12,000 net.  Annual RoR right at 19%.

What I'm having a hard time wrapping my head around is IF the performance is based on asset value versus amount invested, that RoR drops to 6% ($12,000/$200,000).  With that level of equity and appreciation, is the smart move to sell the property?

Background: Small town investor, self operator.  No local staff or team to lean on for portfolio management, maintenance etc.  House is minimal maintenance BUT there are always those random things here and there. 

NYC just put in place tough STR ban:

https://www.cnn.com/travel/nyc-airbnb-short-term-rental-rule...

After the dust settles, will MTRs be next for cities to go after?

Hey! Got a quick question and I'm curious to hear your opinions. So I'm 21, and just got back from a 2 year service mission for my church. Now I'm getting back into the swing of things financially. I'm attending college at a university but with a full ride scholarship, so I don't have to pay anything. I've been thinking about taking out student loans (even though I don't need them to pay for school) and using them to put a down payment down on a house hacking project. I looked it up and it is discouraged (obviously) but NOT illegal. I would go the FHA loan route and the idea is to start building equity at a young age, and get a little more experience in the RE realm. Let me know what you guys think, if it's plausible or just complete nonsense

Hey everyone, it seems like it’s difficult to get the full mortgage covered + cashflow while living in the other half of a multi family. With the interest rates right now it’s even difficult to just get the full mortgage covered.

Have any of you ever paid a portion your mortgage while living in your house hack? I would only do this if the numbers showed that I would cashflow after moving out. Is this a viable strategy?

I have an investment property which I have been using for a combination of STRs and a seasonal MTR for the ski season.  What platforms do you find most useful to attract different MTR audiences?  I know Furnish Finder specializes on travel nurses but how about other populations (seasonal workers, families for a ski season, insurance, etc)?  

Do people use Air DNA for market research or other tools?

Thanks!

Elizabeth

Hi MTR investors and property managers,

What are best practices and innovative solutions for the 2 subjects below:

Utilities

1. During periods of tenancy who should have the utilities in their name, landlord or tenant? Pros and cons of each strategy?

2. For those who believe landlord is the answer above, do you include internet access?

Furnishings

1. Efficient inventory methods. Are you counting dishes or do you limit your concerns to the big-ticket items?

2. Any slick new solutions to troubleshoot tech issues with residents (usually tv or internet questions)?

Hey everyone! I'm looking to start medium term renting sometime in the near future, as it seems the numbers in the Old Louisville area make a lot of sense to do so. Good hospital proximity, easy access, and the short term rental permits can take quite a bit of time / have lots of hoops to jump through so I'm not counting on that. Additionally I want to be able to self manage at least for now, and I'm not sure I can do that with STR on top of a full time job, but should be able to with MTR.

Main question- does anyone currently MTR on furnished finder / similar sites in the Old Louisville area? Would love to hear some perspectives on it and if you think it's a viable strategy starting now / in the near future. I'm primarily considering house hacking a 2-4 unit house and MTR the other units.

Thanks!

 So you're not recommending smartlocks? Is this just a normal lock with a key in a lockbox? The issue here is code reuse and security right? With a smartlock I can rotate access codes easily over the web? I'm just trying to get a handle on if smartlocks are actually easier/worth it.

Hello, I am new to investing. I currently own a home and have acquired some equity and I am looking to take out a HELOC. The plan is to either use this HELOC to buy a property outright for about 30K-50K, rehab it myself and either sell or refinance/rent or I can take the HELOC and use it as a down payment on a more expensive home in a better area that I plan to flip. My question is, Should I use my HELOC for either one of these scenarios and would one idea be better than the other? Thank you in advance for your help.

It is a common argument whether buying a home is considered an asset or liability. IMO that home is a liability b/c it takes money out of your pocket, not back in. Even though, yes it is appreciating.

Now, my question to the BP community...

If I buy a house hack and it decreases my living expenses to $500/month, would you consider that house hack a liability or asset?

Excited to hear everyones thoughts!