All Forum Posts by: Dan Sheeks

Hey Franklin.  You've done some good research.  You are correct, the loans are different for <5 units and 5 or more units.  However, they both can work well depending on a multitude of factors.  You are also correct as to the valuation/apprasials of those different types of properties.  A 5-10 unit property does give you some control with things like rehab, but you are also limited with the rents for that neighborhood on similar units.  Ideally, you can find "the worst units in a nice neighborhood" kind of situation where the rents have room to grow.  The other rub is that you will obviously need much more capital for a 5-10 for down payment and rehab costs.  Starting with a 5-10 unit is ambitious for your first deal, but go for it!

I think we would all agree that personal finance is something that all of our youth should be taught, but it's not getting done on a consistent basis.  In your opinion, whose job is it to teach teenagers (high school age) about personal finance?  Parents?  Public schools?  Other?

I am thinking of buying a single-family house in the Phoenix area as an short-term investment property and using Airbnb to rent it out.  Does anyone out there know a good agent in the Phoenix area and/or have any advice about buying short-term rentals in that area?

Thanks!

Dan

Thanks @Micki M. !

Would I want to talk to an architect or a structural engineer first?  @Micki M.  What I'm looking to do is possibly add a second level onto an existing single family.  I want to first make sure that the current house can support a second level. Then, if it can, talk to an architect/designer to build a plan and get bids.  Does this make sense?  Or am I missing something (which is entirely possible!).  Thanks.  Dan.

Thanks, Bill! @Bill S.

We are thinking of adding another story onto one of our rentals before we sell it and would like to find out if it's even possible with the existing home.  Does anyone know a good LICENSED engineer in the Denver area?

Thanks @Kevin Grinstead

Thanks @Billie Miller!

Thanks for the input @Dan Mackin!  And @Jay Dewberry and @James Carlson!

Thanks for your help!  @Jay Dewberry  @James Carlson