All Forum Posts by: Jacoby Atako

@Roi Ford

I truly doubt there will be any widespread crash in Vegas. Obviously you'd expect some sort of stabilization when people have to start getting caught up on the payments they haven't made, but prices have gone up so much they typically have enough equity to sell. And CLEARLY there is extreme demand that doesn't seem to be fading with the mass migration from California.

I think for me I'm preparing to look for specific opportunities, but doubt they'll be on the MLS.

@Jill Jay

If that's the case it's not usually going to be much profit. The goal of house hacking is to live for as close to free as possible while building your portfolio and saving for your next deal.

@Jill Jay

To be really specific you'll want to estimate vacancy as well. Are you going to use a property manager? And I didn't see insurance costs.

Add those numbers in along with your the money you plan to set aside for repairs and you'll have a pretty good idea how much this property will make you.

What numbers did you use to get a 20% loss each year? That seems pretty hard to get to from the numbers you've given so far.

@Tariq Hakeem

I've definitely found this to be true with good investment properties. But there's a lot of reasons people rent: bad credit, not enough savings, fear of commitment, fear of owning a home, unstable job, relationship instability...etc.

There will always be people who need to rent.

@Mary M.

$5k? Ok a 500 sq/ft condo that might kill profits for the next 5 years.

General question for some of the investors that have purchased at auction.

When researching title on a property, if a title company offers you a title report on a property which shows liens, encumbrances sids/lids, and back taxes, etc,... What other stuff would you need to know that this report might not include related to other obligations that might survive the auction purchase?

@Nathan G.

This is a pretty easy one. Treat people with respect and pretty much ignore the rest. Regardless of how mad a person is that are renting, most of those people will not do anything to change their situation. So while they complain, they will still be dropping off the check in the first.

@Eric Weldon-Schilling

Haha, was this written in sarcasm? There was a time when they handed out mortgages to just about everyone... Then 2008 happened.

@Bill Brandt

I like this response

@Ilmar Molder, sr.

Usually apps like propstream will help you tell if it's owner occupied. Also check zillow price history and see if it was listed as a rental on Zillow.