All Forum Posts by: Doug R.

@Chris Engler

I'm not sure how reliable they are as I haven't used them.  I can provide contact info if you'd like to reach and talk with them

Hi Brandon,

I run an Act 20 ecommerce biz out of Rincon.  Do you know which side of the island you are going to be living?

Doug

Hi all, Newbie here. I'm sure this has been answered somewhere else but I haven't been able to find it. I just read this article: https://www.biggerpockets.com/mortgage/home/income-property-owner-occupied-financing-06811/ The article discusses a strategy whereby the investor moves to a new house to take advantage of owner occupied financing. Then, after some time, the investor moves to another house, to again take advantage of owner occupied financing and rents the old house. My question is: is there a minimum amount of time that you need to stay in an owner occupied house before moving to the next house (and get another owner occupied loan)? Are there parts of this strategy that perhaps I'm not thinking about? I'd like to use this strategy to create a student housing portfolio. I'm a young guy, and don't mind moving from place to place. I'm targeting multifamily properties, where before taking into account me living there and after taking into account the rehab, the property could generate a 12.5+ cap with the student rents. What am I not thinking about which could hinder my plan?

@David Faulkner This is a great list for me to start from.  Thank you!!!

@David Faulkner Thanks!  That makes sense.  

When you walk through a property to take note of the future CapEx items, what are the most material items on your list besides your roof? (newbie)

@James Masotti and @David Zheng thanks guys both of these comments are helpful.

David, where have you found the public records for the utilities and insurance?

@David Zheng I just started in REI. When you are looking at potential investments, how do you come up with the estimated maintenance, capex, etc?

@Victor Chico do you know how maintenance expenses in PR with a fully concrete building would compare to a wood building of the same age?  When I'm looking at investment oppys in PR, I'm trying to figure out what the right maintenance costs are as a % of Gross Rents.

From what I understand, there is a private MLS that is not used by everyone and has a fee to access. Perhaps this is worth getting on. I wonder if the coverage is better in certain areas than others - the agents i spoke with in rincon told me they don't add their properties to the list.

@Jennifer Burgand I lived in Rincon for 8 months or so and can provide my opinion if you want, just send me a pm