All Forum Posts by: Kellen Canfield

Matthew, welcome to BP and the REI community! I’m moving to Kapa’a soon from Oahu. We’ll have to get a meetup going over there. In success, Kellen

The thing that you would really have going for you on that investment is how low-risk it is. $4,500 to get into a unit and cut your teeth at renovation and being a landlord is a pretty low price of admission into the investing world. Even if it didn’t go well I’m sure you could find a way either through the ARV sale or the rental income to at least break even. And you would learn so much along the way. If it does go well and you make some money off of it then you’ve learned a lot and have come out on the other side in the green. The only thing you will need to remember is that owning mobile homes typically does mean you’ll have some continuous maintenance costs while holding because of the tenant pool as well as the materials that they are made out of. Whatever you choose to do, I hope you crush it and keep on rolling! -Kellen

Welcome @James Chun II, hope to meet you at one of the meetups! @Grant Rothenburger it's because speculation through appreciation can be verrrrry lucrative out here. Cash flow is very difficult to find in an appreciation market like ours. That's why he has so much equity available for use though. 

Sounds good! @Clarence Ling

Sounds like a good time @Brandon Turner, I'll be there! Pretty consistent break out at White Plains, hopefully the weather holds up.

I'm going to try and make it to one of these soon!

Do most of you all rent month-to-month with your low income tenants or for longer terms? I've heard that many folks do month-to-month so that it's easier to evict a bad tenant. 

Hello, a partner and I have been trying to purchase a duplex in west hollywood LA through a broker and it seems that we have been getting the run around/misinformation from him. I was added to the deal to be able to show enough income to get the loan and the broker is saying that because I'm in the military and am not a resident of California that it was an issue. It's a bit more complicated than that because the seller is my partner's sister and their parents live in one side of the duplex. We just found out that all 3 parties have been talking to this same broker on their own. 

With my bit of experience investing now, something doesn't feel right and i feel like the guy is being pulled multiple ways. (I can explain in more detail through PM) I'm trying to find an experienced, honest broker that my partner on the deal and I can work with that is totally outside of this whole situation. 

If you are interested in this opportunity or know a good broker that is, please let me know.

-Kellen

Thanks for the advice Jordan, at first I thought you were just being funny with the "best ever conference," but once I looked it up, it does seem like a great one to go to. 

much appreciated,

Kellen

If you could go to one real estate investing conference or convention a year for education and networking, what would it be and why?