All Forum Posts by: Constance Grandelli

Hi @Bobby Armstrong I have done Airbnb and rentals.  With Airbnb, it's much more sporadic, requires a great deal of cleaning & perfection.  Success with Airbnb is very dependent on reviews, so you must go above and beyond the visitors expectations - which is time consuming.  Also, with covid, there are more regulations as for sanitizing the space.  If you do go with Airbnb, be sure to have a minimum stay of 4 or 5 days, otherwise you'll be cleaning constantly.  If you decide to do instant book, the property will always have to be ready.  With all that said, I would go with a long term rental - especially since you mentioned it is not a destination location.  

@Andrew Cruz I have not found a whole house contractor that was truly "whole" house.  Most of them are pretty good at some things, not so good with other things.  I have hired and fired at least a dozen contractors.  What I am doing now is subbing out the work and manage projects myself.  Lowes has the best prices on floor installations, I have some guys I use for drywall, another guy for decks, etc.  But no one has been able to hanle the whole project to my standards. 

PS - Lowes and Home Depot seem to be having issues with stocking what we need, so I started buying from Wayfair.  I have been very happy with their quality, price and delivery.  I can give you my reps contact info too.

If you work with a good Realtor, you don't need a licensee. The Realtor can set up auto-MLS feeds for whatever your search criteria is & get access to the properties. There are expenses associated with being an agent, as well as obligations to your brokerage. The question is, what type of hat do you want to wear? Do you want to be a Realtor? Investor? GC? Contractor? Painter? Carpenter? Focus on what is the most profitable use of your time.

Hi Bailey,

I'm a real estate investor and Realtor in the Tricities area. Please feel free to give me a call any time. I'm happy to help newbies.  :0)

Hi David,

I'm a Realtor with Fathom Realty and an experienced investor.  I'm happy to help.  

Feel free to contact me.  :0)

If Auntie can qualify for the whole amount, they could make an agreement between the two of them for his  part of the mortgage payment.  It would be similar to owner financing in that respect.  Have an attorney draw up the documents.  Also, they would need to outline for the partnership, who is resposible for what.

Hi Russell,

I would try carpet with a thick pad in the upstairs apartment.  :o)

Hi Paul,

That's an open ended question.  So, Dad has no income, does he have any money to invest?  If not, maybe he could be the maintenance man, project manager, handle all the tenant screening, leases and rent roll.  Your Aunt and Dad would have to figure out what that is worth.  So Auntie could possibly be the silent partner, she would be the money part of the deal and Dad would be the hands on part of the deal.   Have an attorney put together whatever deal they come up with, otherwise it can tear your family apart.  Be careful when partnering with anyone.  If you wouldn't want to live with them, don't partner with them.  Hope this helps!  :0)

Hi Garrett,

I'm embarrassed to say I paid a lot of money to a guru.  The only benefit was I got mad at myself for being so gullible, so I forced myself to earn back the money I had spent.  I believe everything you need can be found for free, or very inexpensively.  Figure out what do you really want to do, and are capable of doing.  Focus on that, then do it.  Network locally, read up on the subject, watch YouTube channels that apply to your subject, ask questions and connect on BP.  With all the money you will save, you could probably buy your first flip!  :0)

Hi William,

Find out what your options really are.  Will the owner finance?  If so, how much?  Will the bank finance?  If so, how much?  You need solid answers to those questions to figure out how to proceed.  Good luck!  :0)