All Forum Posts by: Jackson Pontsler

Really simple and slightly stupid question where can I get started to understand how to optimize my website for SEO?

@Dominique Mickles Ok way too little information here. 

• If that was 15k for a duplex then that raises alarms as to why its sooooo cheap.
• If that was 3.5% down payment then duplex is 428k which hopefully has no need of repairs

So we already see based on the information provided that you can have a complete tear down or a very nice turn key duplex. 

Lets assume that it does need rehab.  I've done rehabs form 5k to 90k.  It all depends on the items that need to be fix.  Gurus say is medium, light, or extreme x sqft of the house but that is a very inaccurate way to determine the repairs.  

When you find a duplex bring in a contractor to quote you a bid.  This can be used during the inspection period of purchasing the property to renegociate the price if you are completely off with your gut impression, mind you though people hate investors like that (who get the house undercontract and then try to argue the price down when they knew the house was being sold as-is.).  

@Bryce Jensen yes that is a tall order, the best I've seen was over a year ago a triplex for 225k. You will have a hard time finding something that is rent ready in that price range. That means you need to start getting referrals for repairman. That also means in addition to the MLS look for the Northern Utah REIA if I can dig up that contact I'll send you it. In that group there are some people may be able to inform you of potential deals. Other potential sources are eviction notices at the court house. Hope this is a good starting step for you

My wife and I are entertaining the notion of using one of our rentals as primarily AirBnb rental. I would like to learn more but when I look up articles it mainly comparision of standard rentals vs air bnb. Can any point me to posts or articles discussing the basics of Air Bnb and how to maximize your ROI?

@Jason Malabute my original intent when analyzing deals is to spend my time where it counts.  Using this quick sanity numbers I can see if the seller is within a ball park price.  If they are I proceed forward and do a better repair estimate if not more than likely I would just be wasting my time and with my current projects and 7 month daughter time is fleeting and precious.

I have a few questions/ suggestions

1.  Where are you getting the money for purchase and rehab (if you are borrowing what is the interest at)?
2.  Are these contractor quotes for repairs if not where are you getting them?
3.  Where are you getting the rent info?
4. I'd do vacany at 8% for a new tenant every year
5. ALWAYS INCLUDE MANAGEMENT 10% into expenses.

Hope this helps

@Nathan Gesner thank you for pointing what what I gleaned from @Iyad Salem post.  Iyad if you want a mentor a good trust worthy one that is great but right now from the tone of your message it seems like you have written off anyone as a good mentor.  If you are worried about finding a bad mentor or tire kickers you have 2 routes in my head.

1. Find the biggest investor in your area and pay them to mentor you, with a written contract.

2. Become friends with the different investors, as you see who really walks the walk you will be able to develop a better friendship where you will be able to approach them with your questions and situations.

Honestly I hear all of these buzz words like "network and mentor" but people seem to forget what it is at its simpliest level.  Friendship, (que the gagging sounds that message sounded too cheesey).  So you either need to cement it as friendship or as a buisness partnership.

@Jason Malabute as a Flipper Brandon's numbers aren't for rehabs but for low end rentals.  The repair estimates will vary base on sqft and type of rehab as @Cassi Justiz stated.  For me as a flipper (flipping houses requires more updates than rentals) my levels are 30k, 60k, and 80k (minimum of 1500 sqft).  Given this when someone comes to me with rehab of 10k I laugh because they don't understand the difference between updating a rental and flipping.  If you are just slapping lipstick on a pig then the deal would have already been scooped up which is why my light rehab changes the vanities, paint, landscape, appliances.  Medium will be redoing a bath and gutting a wall.  Full will be everything.