All Forum Posts by: Kelly Beasley

@Bobby Hosmer Thanks for that input- I suppose the rentals I SEE still available are not very desirable and therefore are still on the market. I can't speculate with that tho. Again, I am going to be STUNNED if they accept my offer. We shall see!

Thanks for the rec! I'll have a look

Hi- I am making an offer on a property in Tucson. I heard it rented for $850/month. It's small, yes. But it's SUPER cool and has great amenities and is very visually appealing. RE agent thinks it can rent for $1200. 

Hmmm. Big gap there. 

Looking to talk to property management to find out if this is reasonable or not. 

Anyone have someone, preferably that they have USED before that they highly recommend?

I'd love to hear who you recommend!

TIA

@Joseph Crunkilton if you're DYING to know the numbers (😂), I put it up in the 'calculators-check my deals' section of PB. Whatever it's called. LOL! 

@Joseph Crunkilton IF I can really get 1200/month for the long term, I would supposedly (need more definite numbers to be sure) I'd CF $233/month. Not sure I can actually get 1200 a month tho. I have 10 days to back out if they accept my deal. In that time I will go to multiple property management companies and ask. 

Short-term would only get $291/month. Not the awesome jump I was looking for for a great deal using it that way. 

WONDERING if I can put an ad up on CL after offer accepted and see what kind of bites I do or don't get at that rate. 

Hmmmmm. Anyway, I will be really surprised if they accept. Crazier things have happened. 

Thank you @Tyrone Dennis, @Percy Matsunaga, @Sebastian Cao, and @Jesse Daconta. I am putting the 50/50 thing on hold. Actually I am putting an offer in on a property in Tucson. I am asking 14K under asking price, so no holding of breath. But the price per sq ft is really high for the area. All they can do is say no! Plan is to long-term rent for a year or two until covid calms down/levels out, then airbnb it. Numbers don't work unless I get that lower price. 

Thinking I will do my own investment first with what I have saved, and find a way my partner and I can do something together, more 50/50 with the money we invest. 

No analysis paralysis here, I guess! LOL. This property popped up yesterday and I jumped on it. 

SUPER cute/well kept 700 Sq ft 1br 1ba house. Outside bar and socializing area with 'workshop' (More like a room for washer/dryer/folding table, and to keep the beer taps stored in). Workshop POSSIBLY able to convert to a unit? (Haven't checked with city yet)

My idea is to rent it long-term for a year or two, and once things (hopefully) settle with COVID and rentals, I will Airbnb it out.

Debating whether to make an offer. (I have 10 days after accepted to back out for any reason, so there's that)

Pros:

1. Super cute and nice extra features

2. Private- surrounded with modern looking corrugated walls and has big automatic gate

3. Great neighborhood/location/social area looks pretty great!

4. The price is right for me/I can afford it

5. Turnkey ready to rent/I DO love that it's ready to go - easy first investment. (But then I don't have much room for improvement to get more rental income or to raise property price.)

CONS-

1. Awkward layout (Kitchen cutoff from rest of house) (Front door is not in inviting spot)

2. Bathroom is in bedroom- if I eventually airBNB, guests on sleeper sofa will have to go into bedroom to use it.

3. I CAN afford it but it will eat up pretty much all I have saved for investment at the moment.

4. Rental numbers aren't where I'd like them to be. Long term- 8%, Short term- 12%. (Would you go for these percentages? Am I being stingy?)

5. Price per sq ft is high for the area

Here are the numbers I have run on either the long-term or short-term. (Once I clicked on the link to share here I don't remember which one I used)

I am having to ask under asking price to get the price I mention, in order to make the numbers attractive to me. Asking is $137,500.

Thanks for your input!

View report

*This link comes directly from our calculators, based on information input by the member who posted.

@Jeff Stansberry wow- isn't the internet a crazy thing??? I mean, you virtually put pixels on a screen that turn into words that anyone in a 'forum' can see, and it turns into a relationship. 

That's how I met my business partner- put out a plea on an RVer FB group, and a friend (I'd never yet met) connected me to a group of RVers around my age in the area and I went to a campfire one night with them and I met them all, new biz partner included. 

It's just a crazy world we live in now when you think about it. So thanks for your story- when I finally figure out how I'd like to proceed, that may be an option. 

Hi Casey,

I am in love with Colorado! Would love to find properties (even one for myself eventually) in Denver or Golden/Boulder. 

Anyway, I am in your exact boat. HOW do people decide what route is best for them when there are so many to choose from? I thought for sure I was going to start with a BRRRR. Got the book, read the whole thing. But it's way too intimidating to take on a full-on remodel like that if you ask me, as a total newbie. No way.

I'd love to do the house hack. I basically have done that the entire time I have owned. I had boyfriends who paid half or more of the mortgage, lol!!!!! 

They paid half of market rent price, basically. But now I don't live anywhere. I live in my travel trailer and travel full-time so I can't house hack. I have to keep residence in Florida (Domiciled) to keep my health insurance.

I'm currently leaning towards duplex buy and hold/fix up for better rent. I want cash-flow properties. (Easier said than done/found)

Feel free to connect with me if you want/need head to bounce thoughts off of. I think people tend to 'get' things better when they speak out loud about  them. Thoughts are THINGS. We can make whatever we want to happen, happen, basically. 

Good luck and maybe I'll hear from ya!

@Darius Ogloza Wow! Look at you go! Glad to hear things have worked out much better for you. Keep killing it. : D

@Darius Ogloza that may well be what happens- we wait until he has some skin in the game with money. Three deals? Yikes! That sucks. 

Sorry to hear you had those experiences. That could turn anyone away from RE if they let it. Sounds like you have stuck to it. Better these days? Making a profit in single family residences?