All Forum Posts by: Justin Kruse

Quote from @Joel Bongco:

Hey Justin, are you using 150K in funds to acquire the property or for the rehab? We buy major fixers in Hawaii and turn them into Mid Term Rentals for travel nurses. Here are some things to consider - 1. Will your unit(s) cash-flow? Would love to see your calculations. 2. Are you pulling permits for your renovation? 3. Are you acquiring it under your name or an LLC?

I'll be in Los Angeles next week if you want to connect up in person or virtually.  Mahalo!  Joel

Thank you so much for the reply. It would be 150k in renovations. I do have an s-corp for the past 4-5 years, but it’s more like a hobby now. I’ll eventually want to transition it into a real thing, but towards the direction of short-term and midterm rental. Honestly, I intended to buy this home as a primary residence to live in, but after seeing it is across the street, a light bulb went off. Eventually I discovered bigger pockets, so I didn't do any calculations unfortunately. I will pull permits and I intend it to be under my name once escrow is closed. Mahalo bro!!

Good morning everyone. I am a first time home owner in Los Angeles and just opened escrow on a major fixer house across the street from a major hospital. I'm looking to converting the garage into a JDU. There is also an unpermitted ADU in the backyard as well I love to get permitted one day and really invest to. I plan to make this my primary residence until I get feel stable again and rent out the spaces to the mid term market. Any tips for a scared first time home owner looking to rent some to travel nurses? I have about 150k in my brokerage account I'd like to use wisely. Thank you to anyone that reads!