All Forum Posts by: Justin R.

BRRRR And only if you purchase right, and get built in equity. You can do it with commitment and patience.

Great question. You will get many different responses with varying information. I’m in a similar situation as you. I was hoping I would get clear cut direction; but I think generally, multiple state LLC strategies are subjective and have faults. We just need to do a total assessment of the benefits and risks/hassles of each strategy. After consulting with both my attorney and CPA, I have decided to continue with my umbrella policy, and wait till the dust settles with the new tax bill. If the 20 percent pass through is only offered to official entities then I would definitely be persuaded. Best of luck!

@Bill Cereske Thank you for your input. Where are you at on your ROI if any? Or are you at a loss annually? I would personally be fine breaking even, or maybe a small loss just because I would be utilizing a few times a year, and that is a benefit. If I broke even I would be stoked. A free cabin to use, long term appreciation, and loan pay down.

@Andrew Faukner your absolutely right. It sounds like South Lake proper is making it difficult/impossible for STR. I'm thinking more about thea Nevada side now, possibly Zephr cove/hill?

Ventura County (areas of Oxnard, Camarillo, Thousand Oaks, Westlake, Moorpark) 44th district Jacque Irwin

I'm leaning towards QuickBooks online at this point. Based upon the online examples, it appears the "real estate " version is intended for property management more so than an owners portfolio. 

I have inherited many low paying tenants...But I may not be the best guy to give you the "business" answer.

Do to my personal beliefs and morals, I do not raise rent on quality tenants even if they are below market. Looking at numbers objectively like investors do, means a percentage. That "percentage" to someone else may be food on the table, especially when talking about tenants on in your mentioned socioeconomic class at 400 dollar doors. 

If you do raise rents, just do it slow and use communication with your residents. Even better, buy the property where it works NOW.

With that being said, I evict bad tenants. When the tenants leave I rehab the unit to obtain the highest market rents.

Best of luck.

Hello @James Piercy, I would have to agree with @Filipe Pereira and @Katie Hanner. 

4k Gross after "all" expenses, is this including your debt coverage?

If so, you are needing to gross approximately10k per month. This would be $2500 a month rents for a multi family building. The only areas that can justify this would be SF Bay area, or another trendy high end downtown. Like others have mentioned, in order to get that gross monthly amount in such an area, expect a purchase price of 2 million approx.

Thank you both for the reply. Perhaps I will check them both out and compare. 

I think a startup company in the silicon valley should create a software program soley for real estate portfolios. Keep it super simple for the basic people out there, like myself. 

Yes 1. Keep your tenants safe! 2. It’s the law (in most states) You can buy a two pack at Costco for twenty bucks. Place one per house per floor. Best mounted at eye level.

If you want to rid the property of the worst tenants you will want to have them vacated by closing per your contract. This may extend your closing date, but save you many headaches in the future, especially if your in a tenant friendly state.