All Forum Posts by: Jason Johnson

@Adrian Lopez I purchased a furnished condo in Medford a few years ago and ran it on AIRBNB for about 9 months. It had easy access to i5 and overall performed slightly better than a rental. I don't think of GP as a high demand destination, so i'd recommend getting some STR consulting on your location, ideal guest and occupancy estimates for the full year.

....I don't track the GP market very closely these days, but what I hear from family is inventory is low and the fires have not helped.  This is driving up prices and rents...I only see 6 rental available on zillow in GP.  If you sell, are you seeing other assets to move your money into?  

Chester, Do you think the future appreciation is in the land or reno of the building?  If the building is destined to be scraped off the lot to get highest and best use, I'd be very picky on midterm improvements. 

@Chester Knapp what investment metric matters most to you?  Your setting on some nice capital appreciation! 

I'm skewed towards avoiding a turn and capex output when the tenant is high quality.  Consider sharing a copy of the area market rent report from rentometer and asking what he thinks is a far increase.

@Trevor Murphy i have a few rentals and handle it with turbo tax.  If your rehab was capex, it will factor into your deprecation.  maintenance items can be expended.  Make sure you have copies of all your receipts.  Obviously having a professional can save you time and risk of making a errors, but you need to be on point with your bookkeeping either way you go....garbage in garbage out. 

@Domenick Booker-Pomata what grade of rehab you thinking? I'd use the more conservative ARV from you HML for this area east of 55 and given the unique structure.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $165,000

1st home converted into SFR in 2016.

Hi Michael, Reach out to @Jennifer Chiodini She is great!  

@Jeremy Pearson

The analysis looked pretty good but I think the taxes are double what you showed. As a tip, I like to add a list of sources/assumptions for the data I put in an analysis. For example, the taxes can be pulled from county website. However the rent is an estimate. I think this is a good habit so that you can always take into account the quality of the data you put into the tool.

Jason

@Jeremy Pearson

First, the bad news. Listings like this around here are usually a big tease and this one is no exception. This house sold at auction for $500k a couple weeks ago.

Regarding your analysis for a house hack like this, i'd consider the main benefit to be the reduction in housing cost and future appreciation to you as the owner. If your investment goal is for cash flow, this isn't gonna work for you are your analysis shows.

Jason