All Forum Posts by: Jonathan Feliciano

Hi BP Community,

For those of you with long term rental properties, do you furnish them?

Have you found more, less, or about the same success attracting tenants with furnished versus non-furnished units?

@Kenneth Garrett

Hi Kenneth. Thank you for your response.

What was your experience like converting the garage to a bedroom? Did you do the work yourself or hire someone? What were some important lessons you learned as you converted the garage?

@Leo Ray

Hi Leo. Thank you for your response. Where can i conduct research on zoning/permitting? Where have you gone to find that info?

@Caleb Brown

Hi Caleb. Thank you for your insight. Where would you go to find info on permitting?

In other words, How would i know if i need a permit?

@John S.

Hi John! Personally, I would go with option 2. One of the advantages of rental real estate is the loan payoff you receive from your tenants. Plus, going the mortgage route will force you to carefully evaluate your rental properties and see which ones will offer the best cash flow.

Hope this helps!

Hi BP Community!

Recently, I've been thinking about purchasing a 2/2 SFR with a garage, and converting the garage to a 3rd bedroom.

I think this is a good strategy because you can purchase a home at a cheaper price (compared to a 3/2), and you can increase your cashflow with the additional 3rd bedroom.

What are your thoughts on this strategy?

I am especially eager to hear from those that have implemented the aforementioned strategy. What was your experience like? And would you do it again?

@Noah Laker

What is “hosting”? I’ve been seeing this word pop up more frequently on topics related to real estate.

@Max Alford

If you’re making enough money to afford a new car, and you really want it, then go for it. If you can’t afford it, then don’t purchase a new car. It’s not worth the financial trouble.

@Tony Aliatim

That’s what I thought too! But according to the article, that’s no longer the case. Let me know if you find a different source that says differently.

I recently found out that if one were to put less than a 10% down payment on an FHA loan, you would have to pay mortgage insurance for the entire length of the loan. If you put down 10% or more, you will pay for mortgage insurance for 11 years. (See citation below.)

How do you feel about this? Do you think an FHA loan is still a good tool tool for buying your first real estate investment property?

I look forward to hearing everyone’s thoughts on this. :)

https://www.bankrate.com/mortgages/fha-mortgage-insurance-guide/