All Forum Posts by: John Dayhoff

@Joshua Roberts

Joshua, thank you for you mentioning that I need to find a strategy that works. I am struggling with exactly that. I want to jump in, but having a strategy is important.

It appears you are possibly in the military...thank you.

I suppose you likely have seen many different markets.

I would like to get your ideas on strategy, as you offered. Maybe over coffee

@Michael Glist

Michael, thank you for your offer to talk about my numbers. I will take you up on that offer, I’ll try not to take too much of your time...

I think you are saying “ buying in a hot market mean you are in it for the long haul”. That is exactly what I was thinking others strategy must be. I think that requires a lot of speculation of a strong market for more than the short term (2-3 years). I would be interested in getting your take on that as well as your take on financial strategy (I see you are a lender)

I’ll reach out soon

I've been looking at a number of properties. I have seen several sell very fast for market price, and they need a lot of fixup. My most recent analysis was for a ~$250k ARV on the market for $220k (House is a wreck). I physically looked and found $35k in fixup (very conservative number). It had a contract and multiple offers same day for above asking (cash). My offer would have been laughed back across town to me

I am wanting to do a BRRRR. Is the market that hot? Are investors that insane? Am I just missing something? I know there is this "NEW MATH" thing, but what gives?

I'm thinking about buying my Gma's house for $200k and it would rent for $1500/mo.  Not thrilled with numbers, but it seems way, way better than anything I've seen in 2 months of looking.

Any opinions?

@Brandon Turner

I’ve looked a a fix and rent houses in an okay neighborhood. Extensive fix up that would yield a $300-$325k house and rents in the area are $1600/mo.

I see a nearly new house in my very nice neighborhood at $310k and rents are ~$2400/mo.

Between the 2 houses, the no brainer is buy the newer home with no fix up and be happy...

I’m a newbie, and thinking $300 is a lot for a rental. However ,I live near a few military bases. I believe the rental market is strong and likely will always be strong. Am I thinking correctly?

-John