All Forum Posts by: Shawn Regnier

Great job @Benjamin Hedden on your first investment property! I'm sure this is only the beginning. Good luck on your next one, in the very near future.

@Allen Lopez I’m an agent in California, and no, you will not get your inspection fees back if a deal falls through. Maybe it’s different in Louisiana, but I highly doubt it.

So you are ready to walk away from a deal over $360? Sounds a little extreme to me, even if you “could” get back your $1,000 spent.

Added headaches always come up during and after a purchase, so try not to proceed with only an emotional decision. If it’s a good deal, then just get it done. I don’t think $360 is going to turn a good deal into a poor one.

It’s your decision, though.

As a California resident of 7+ years (my wife has been here 20 years), I think where you are in life (age, finances, if you have children), and whether you want to be close/closer to family are also determining factors. 

We're both from NH originally, and while neither of us want to deal with the winters any longer, we do want to be able to jump on a quick flight to get home (or have family come to us); especially with the reality check of Covid. So for us personally, we've been starting to check out NC, SC, and FL; not for investment purposes, just as possible moves.

@Jason Boritz

As an agent in Los Angeles (but a transplant of seven years from New Hampshire) I always smile when one of my client's rolls his eyes and states the "barrier to entry" for real agents is just so low. I can always tell when he met a new listing agent. 

People skills takes having that inner desire to actually want to help people, and unfortunately, many people don't have that set of skills. Maybe it's just the "patience meter" here that went out the window, due to hours spent in busy traffic. *shrugs*

 Thanks for sharing @Jason Turgeon, great story!

Hi Priscilla, no need to stress; it's a nice position for you to be in. Your townhouse is appraising for around $425k more than you paid for it. I don't know how much you put into it, but less assume 20% ($115k) since it was an investment property. So you've got roughly $540k in equity.

These are all just guesses, and you may have more into in; I just want to give you an easy example to work with.

Your return on equity is your annual net income of $400/month x 12 months = $4,800/year.

Your equity sitting there is $540k.

Divide $4,800/year by $540k = .88% ROE (return on equity).

That's a lot of money tied up into a small return, BUT, if you are confident that your townhouse will continue to skyrocket up in price, then hold for appreciation. I'm in Southern CA, and many of my client's hold onto their property investments just for appreciation. It was fantastic, especially the last 6 years for them; but who knows going down the road.

If you sell your home to your tenant, you will be paying uncle Sam a large chunk. I understand the novelty of having a property in a high end town, but to me, I'd spread it out on properties that need a little love (rehabbing), and set yourself up for the future with more income streams. That's just me, though. 

I would recommend reading the book on Long Distance Real Estate Investing by @David Greene

If my math is off, feel free to correct me, anyone; no offense taken.

 @Dan Macklin Duly noted!

@RJ Reynolds Thank you for the response RJ. I passed my state exam yesterday, and look forward to rolling up my sleeves, and digging in!

Thanks @Dan Mackin! Time to change status to "Real Estate Agent." :)

Thanks @Spencer Abeyta!