All Forum Posts by: Conner Olsen

Quote from @Conner Olsen:

Quote from @David Barksdale:

Purchased new home for living. Want to use the equity to purchase short or mid term rental after the 6 months waiting period. 

What is the loan to value of the home you just purchased? 

Not sure what loan to value is. Sorry. But I will try and answer. Loan is 488k down payment is 450k home was purchased at 925k local comps are currently 1.1m. Put about 50k to upgrade and spruce up. Hopefully that answers the Q. 

Purchased new home for living. Want to use the equity to purchase short or mid term rental after the 6 months waiting period. 

Hi, My wife and I are new to this and have seen a four plex that needs some work pop up in our local market. We already own a house but looking to see the implications of house hacking with this? or is this not even possible with he ownership of one property in the area?

If I have a house that's too big for me and I want to househack and rent it out to a tenant but want privacy and no shared space, is it legal to put up a dividing wall and possibly another external door so the house is divided into two for more sound proofing and privacy?

I wouldn't be advertising it as a separate "unit", I would still have to split utilities with the tenant and share the garage and stuff but at least I won't have to be subject to living with someone that may be loud, annoying, etc.

Would the planning department even know or care if I put up an interior wall with no electrical/plumbing straight down the middle of a house (assuming the floor plan was suitable)?

This would be in the DFW area like Plano, etc. There are not many true multi or duplexes here so I figure if I'm going to rent a room out, I might as well do some basic minor modification and nothing too structural and no one would really care.

Anyone with experience with this?

I guess if I really think about it no one would really care. If I put up a listing for a roommate and it says 2bed/1ba in a house, the fact that it's extra private with a dividing wall would only be more incentive for someone to rent it. I wouldn't market it as a separate unit however or do anything different with mail or utilities. 

need help here. I have 40-50k. should I convert my garage to a studio/1b apartment and rent that out or use that as a downpayment for a rental property? (it's a new construction 3bd 2b in an ok but not great neighborhood)

I don't know the value that would add to my home, but I know I profit around 400 per month as a long-term rental (renting out both units). if I furnished it or made both units an MTR, I would profit more. ($750 per mo cashflow possibly). as a 3bd 2b home, currently, it breaks even monthly. 

If I buy a 200k house in Waco right now, I could rent it and MAYBE break even with 20% down. 

what you you think is best? and why? 

Hello BP community, I am searching for experienced arbitrage (mid term rental) investors to partner with. I manage a couple of studio apartments in Southern California that would serve as ideal mid term rentals. Both units are in close proximity to interstate highways, public transit (LA Metro) & renowned hospitals. I am only interested in partnering with EXPERIENCED investors/operators, who have a successful track record with MTRs. If there are any investors in Southern California, who operate MTRs & are searching for additional units to arbitrage, please feel free to message me on here directly, for more details.

Hello,

I'm having trouble finding MTR tenants after nearly a month of having it listed, still no serious leads. I've listed on Furnished Finder, Zillow as fully furnished and I also actively look and post in various Facebook groups advertising the listing. I recently just did a price drop of $100.

I'd like to know if I'm doing something wrong so that I can correct it. On Furnished Finder I have the most competitive price amongst other listed homes in the area. It is a 3bed/2bath in Atlanta, GA. One thing that I notice is that in my "Unmatched housing requests" within Furnished Finder, I'm seeing a lot of 1-2 person travelers looking to rent smaller spaces at a much lower rate. Now clearly this isn't my target audience so with that being said, I'd like to figure out how I can increase my chances of finding a renter that suites a 3bed/2bath home at the most competitive price within the area. 

Thanks

I think everyone has heard of Travelling nurses staying in MTR's , and construction workers I have noticed are becoming more and more popular. My question is who else do you all see staying in these properties? Is there ever really a "down season" 

Hey BP community!

I have been very fascinated with the MTR strategy and read most of the books out there regarding this topic. My wife, who is a nurse herself and I were talking about the demand of travel nurses and where they are headed within the country. Most experts recommend about 2-3 hospitals within a given city, obviously up for debate though. But my question is, Are there any tools out there tracking the demand of nurses in hospitals? Are other investors reaching out to agencies to see where the demand is? I'm trying to analyze properties in areas that are not in major cities, but still have a Level 1 Trauma Center in the city. Appreciate any input! Thanks!