All Forum Posts by: Justin R.

Does anyone have experience renting out cabins in the west coast? I am looking into possibly purchasing a Cabin in either Lake Tahoe, Mammoth, or Big bear. I am thinking about purchasing one as a "second home" which should secure me a good interest rate. The cabin would be utilized by my family several times (6-10) a year, but not enough for me to justify the costs.

I have contemplated on using a property management company to do short term rentals to offset the costs. If I purchased a 500k cabin with 20 percent down, would I possibly "break even" after all net operations costs are accounted? If someone has experience in this field please let me know.

Any suggestions are greatly appreciated.

Thanks,

Justin R

Fort Worth was one of my first locations Which I invested. As a CA investor I was able to purchase properties in 2010 for very affordable prices. Since then there has been much appreciation. I personally feel there are opportunities for more “deals” but they are fewer and further in between. I invest in Keller to be exact, because of their great school district. There is always a demand in that town for rentals. Be aware though, because there is no state income tax in TX, the property tax rates are elevated. As an out of state investor, we are hit hard with both high TX property tax, and our local state income tax. Best of luck! If your interested in a good Property management company PM me. Justin Rick

Hey Caleb. The finalized bill was just introduced last night and there were numerous concessions from earlier bills.

Immediate liquid reserves- High yield savings Semi liquid - short term RE crowd funding 60 day plus - Equity within my properties. I keep a few properties mortgage free which allows me to finance them if needed at a later point.

Now the GOP has released their final tax bill proposal, how will Real estate investors fare? Let’s not go into market speculation from SALT and interest deduction effects. Let’s keep it to our personal tax effects on capital gains, short and long term holdings, etc. Hopefully we get some chime ins from tax professionals and others who are keeping up with the bill.

Do you feel it’s appropriate to negotiate fees and structure with your PM? Do you ask your manager to follow your personal guidelines (mandatory renters ins, lease terms, etc) or do you just fall into your PM’s “typical” policies? Let’s hear from all

Hey Paul. I’m in Thousand Oaks myself. A few of the areas you mentioned I actively invest in myself. Feel free to PM me for a meetup. Cheers Justin

Hello and welcome to Bigger Pockets Edward! It seems as if your gracious offer is being fully utilized, ha-ha.

Last year I became a victim of wire fraud. To make a long story short.....My RE agents email was hacked, the criminal reached out to the RE Attorney (because they were able to obtain info on the Attorney, and myself through RE agents email) and acted in my behalf. Because they formed this email "relationship" with the Attorney, the title and Attorney company emailed the criminal the wire information.

The criminal in turn, knowing all the Attorney and RE agents information now, acted as if they were the RE attorney, called and emailed me. Obviously on my end, everything stacked up just fine (seemingly) and I wired a large chunk of money to the criminal.

I live in CA, the wire transfer went to NJ, and the purchase was in GA. I hired a lawyer who sent a letter of demand. The RE agents insurance responded and does not cover wire fraud, my attorney is suggesting I don't "throw good money at bad money".

Any thoughts? Thanks for your input.

I previously did a post on this issue as a warning to other buyers. The white collar criminals have became true professionals at this scam. The National association of realtors have put out many warnings, but many still send and receive information my unsecure sources.

Hey Mark. Let me know if your still interested in a GC. I have a quality one in Ventura. Price is middle of road, quality is great. Justin

Thank you both for sharing your knowledge. Sounds like I have my office time planned out for the next several days, haha. Cheers