All Forum Posts by: Kathrine Pomeroy

I have been having good luck in Oakland and the East Bay.  Oakland has a wide variety of value ranges, and many of the houses are at an age where they could use a good rehab.  There is sometimes a lot of inventory, although if you look at something listed by a realtor, be prepared to pay more than list price.  I have a flip there, paid less than $400,000, and I'm hoping to get $700,000 or more when we sell.

Investment Info:

Condo buy & hold investment in Watsonville, Central Coast of California

Purchase price: $580,000
Cash invested: $20,000

Ocean Front Vacation Rental

What made you interested in investing in this type of deal?

I wanted an ocean front property

How did you find this deal and how did you negotiate it?

This was a bank owned property listed with a realtor

How did you finance this deal?

Conventional

How did you add value to the deal?

Remodel the bathroom and purchase furnishings

What was the outcome?

I have a great vacation rental!

Lessons learned? Challenges?

It took too long to get put on the rental market. I had hoped to have it on the market months sooner. I probably paid too much for the bathroom remodel, but it's beautiful and it created a good connection with the plumber and his crew who did the remodel.

Hi Friends,

What are the pros and cons of having a rental house with a swimming pool?  I know they don't necessarily add value to a house, but do they add value as a rental?  Is the liability not worth it?  Is the upkeep not worth it?  Does landlord or tenant maintain the pool?  Or do you hire a pool service and roll it into the rent?  It is a plus in desert areas like Las Vegas or Phoenix?  

Thank you for your input!