All Forum Posts by: Jarrod Ochsenbein

Started REI in August of '23. Purchased a test pilot home for shared housing. It was successful so I bought 2 more. I am pleased with the results so far. Using Padsplit along with FB Marketplace and Turbo Tenant for marketing. I haven't made my first payment on my 3rd house yet and super happy with the results. Thanks Tom Wheelwright for writing the book "Tax Free Wealth". I read it in April/May of '23 after the tax season and I swear if I ever meet Tom I am going to give him a big ole Kiss!!!! :)

Investment Info:

Single-family residence buy & hold investment in Glendale.

Purchase price: $452,000
Cash invested: $42,000

8 Bed 2 bath Co-living house

What made you interested in investing in this type of deal?

Cash Flow

Investment Info:

Single-family residence buy & hold investment in Phoenix.

8 bed 2.5 bath Co-living house

What made you interested in investing in this type of deal?

Cash Flow

How did you find this deal and how did you negotiate it?

Off the MLS - Had it under contract twice. :) Long story -

How did you finance this deal?

DSCR

How did you add value to the deal?

Added bedrooms

Lessons learned? Challenges?

When adding LVP make sure to have the temp up to at least 65 Degrees

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes - Stephen Gomez out of Arizona (Realtor)

I purchased an existing Padsplit with a DSCR loan. Since some of the rooms did not have closets technically they are not bedrooms. The appraisal stated one was an office, another was a den and the 3rd was I think called a daylight room. At any rate it is possible, but depending on your appraisal it could be a gamble. :)

 I have spoken to Fernando a few times and he seems great although I haven't done a loan with him yet.  

Investment Info:

Single-family residence buy & hold investment in Arizona.

8 bed 3 bath Co-living house

What made you interested in investing in this type of deal?

Cash flow

How did you find this deal and how did you negotiate it?

off market via networking with other investors

How did you finance this deal?

DSCR 30% down

How did you add value to the deal?

I bought after reno but added brand new 5 Ton AC unit, dual sets of washer and dryers.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No

LOL -  I actually like tax season now. :)  This year was a $45k return!  Whohoo!

It is my 50th birthday today April 15th. I find it appropriate that I am signing docs today!

As a Tax Baby I finally figured out after 50 years how to offset my tax burden through real estate! 

 Thanks Jeff.  Bye the way folks, Jeff is my CPA and he makes the magic happen.  If you are looking for a CPA Jeff is the man!