All Forum Posts by: Jenna G.

Hi everyone, my name is Jenna (she/her/hers) - age 32. I am looking for a female roommate for BPCon 2024. This is my first year attending, and I'm very excited to network with other real estate investors. 

Accommodation Preferences: 2 queen beds. Open to stay for a day or two after the conference to enjoy the beach. 
About Me: No allergies, social (but also needs down time), ready to learn and talk real estate strategies with others.  
Contact Preference: DM me on BP, or on IG: @j.grez 

My offer of $335k was recently accepted on a house that needs to be renovated and I am now in the option period. It’s in east Austin, 3bed 1.5bath. Houses in this neighborhood that are renovated go for around $450k.

Two issues: (1) I no longer want to take on this project. The inspection came back with lots of work needed (new AC unit and water heater, extensive termite damage, critters living in attic, roof needs a tune up, and cosmetic repairs onto of this) but not terribly bad (furnace is fine, roof doesn’t need replacing, foundation is fine). Termite repairs seem not very expensive but I don’t have experience here. (2) I don’t want to lose my option $, I went pretty high.

I have been advised on a few ways to make sure I don’t lose money or at least break even, but am looking for further advice. A few ideas so far are: (1) buy it, do minimal repairs, and sell right away, (2) have an investor take over this contract, (3) buy it, Reno, rent, then sell after a year.

If you have any advice on how to break even or profit, I would love to hear. I am trying to weigh out all of my options.

Thank you in advance!

I can use an agent, I just haven't been advised by an agent to contact people who aren't selling, so I figured I'd have to do this on my own if I wanted to make it happen.

Is there a specific type of agent I should look for to help find short term rentals?

I am a first time buyer in the Chicago area. Most HOAs make it difficult for buyers to rent out as a STR downtown Chicago, but I have found a building downtown that will allow me to rent on Airbnb, etc. The unit came on the market for a few months at $300k, and is now off the market without a sale. Two questions:

1) Any tips for how to find more of these units? Is the only way to find Airbnb eligible buildings to call each HOA?

2) I'm considering trying to contact the owners in this building to see if anyone else has considered selling. I've heard some investors do this on the BPPodcast, but wondering if this is an okay route for a first timer. Is it okay to do this, and if so, should I drop off letters at the door or mail letters to each unit?