All Forum Posts by: Dylan Vargas

@Ronald Wolcott Welcome! I have a place in Oroville. In town. I use an independent agent and always do. try calling a few and ask which maybe you have. Some areas are tough though in the Foothills and outlying areas and all that is available is the Fair plan from others I have heard. Very tough and rates are skyrocketing on some places. Good luck and keep us posted.

@Dennis O'Loughlin Welcome! Never heard of this happening. Not cool. At any rate shop around and you will find someone. try an independent agent that shops many insurers. Usually if a repair is needed you have more time to take care of the repair. DO NOT use that insurance company or agent ever again would be my advice. Call big insurers also as they may be able to place a policy fast. Maybe they meant previous claims on the said property? Good luck and keep us posted.

@Kevin Koenig Welcome! Are you sure about the rental amounts? Seems like a rather large amount to fall in rental price. At any rate as @Bill B. stated count yourself lucky. Man, take the money and run. So many options with 400k equity. You won, take the victory lap. Onward and upward. Good luck and keep us posted.

@William Lu @Timothy Howdeshell Welcome! I would definitely check local community banks and credit unions. Many have no requirement of you living there. Good luck and keep us posted.

 The entry point is much lower for an investor but B,C and D properties typically come with more maintenance issues and upkeep. Can still make a buck though!

@Gomez Agou Welcome! If you are looking at Grand Traverse area you better up your budget. Homes have risen very high in value. Even the outlying communities are tough now. Very few multi family opportunities that make sense. Jackson and Lansing have much more opportunity but that comes with some more risk in my opinion. Good luck and keep us posted.

@Joseph Castro Welcome! There is a local REI meet up every month in Chico. Chico Area Real Estate Investors. Its on Facebook. We meet the 2nd Tuesday of each month. Free to attend and network. See you in town. Good luck and keep us posted.

@Tabor Lewis Welcome! Congratulations on your investment. California tenant laws are not landlord friendly but doesn't mean things will not work out for you. Learn about the basics of Landlording in California.All the information is free and online. You can use online leases that are available that are specific to California. I prefer month to month lease but some prefer yearly lease. Avail, Tenant Cloud, Zillow and others have California specific leases. Bottom line....its all about pre screening your potential tenants. This is what most time should be spent on. Avail and the others allow you to run eviction, credit and background checks. Roommate leases may be different as I have not done those. You can always talk to a property manager and see if that is the way you should go. They do not charge to go speak with them. Every investor has their own view on this. Familiarize yourself with the eviction process, application process and criteria in selecting tenants. Learn about the difference in pets versus service animals. Good luck and keep us posted.

@Brett Baginski Welcome! I use Avail and have used Tenant Cloud in the past as well as Zillow to run ads. IYou can use the screening service these companies offer. I really search social media to no end to check on potential applicants to see if any red flags or issues pop up. You would be amazed at what information you can see on social media. Put a lock box on the home or have a cleaning/repair person/ contractor etc have keys to the place for showing etc. They will need keys anyway. For $3k per month these are probably pretty nice homes so shouldn't be tough to find quality tenants. Use a local bank they can deposit or transfer rent to. You can always use a property manager if its ends up you not wanting to manage. There are many benefits to a property manager but depends on your situation. Good luck and keep us posted.

@Stephanie Gulbronson Not my cup of tea but maybe for others. Place a smaller unit on the lot? Build out? Hard to see much if any cash flow and appreciation may be a challenge if the home is actually 500 sq ft give or take.