All Forum Posts by: Kenneth Donaghy

According to rentometer, and the link @Dan H. provided, rents from a 17% in Q1 to 8% in Q3 YoY is softer. Not sure if there is a direct correlation from rates being above 7. The are more units coming to market, impacting supply. How these units impact rents is still TBD, many units in uptown are micro units without parking, so how will that impact demand will be different that in the past. Also consumer confidence in the economy will impact people willingness to move and take on higher rents, impacting demand.  

Selling one ticket at early bird price for $800 obo. In a loyal member of the community, BP preferred agent. I will be missing my first BPCon. Venmo or Zelle. Thx!

@Cassandra Brown - CA broker here. Based In SD.  You can agree, refuse, or counter their request for a price reduction. You cannot cancel, unless you have another contingency in place in the contract. Many times people in your situation have a contingency such as, "sell is contingent on seller closing on replacement property" That would be the strongest contingency you could have in place. Sometimes it would be worded identify replacement property. If this is the case, you and/or your realtor made sure this contingency was in place in the contract, you can cancel on the fact you cannot close/identify a replacement property. Another option is to not agree to the price reduction, this would either get them to cancel or call their bluff. 

If you are represented by a broker in this transaction, this is something you should be discussing with your broker, and they have a fiduciary duty to act in your best interest. If you do have a broker, due to ethical reasons I cannot advice on what to do, I just can tell you these are your options on a public forum. 

@Jack Grossmann, I agree with the other San Diego locals. Focus 1st on getting a new job, Software engineering is a good paying career. Then look for a househack opportunity here locally. If you don't have too much of a lapse in employment you will be able to secure a loan relatively easy.  

 @Zee D.

Hi @Nick Halula, 

You have done a good job putting yourself in a good position. A lot of people I work with from BiggerPockets, who have gather a lot of information, read a lot of books, have reach out to me with in similars situations. Our goal is to find where you are at, what you are comfortable with, what you are qualified for, and help you set some realistic expectations, then take the next steps to get you in the game. Teaming up with the right lender and realtor will help coach you in the process. 

I'm a big believer in the House Hack strategy, combine with the mid-term rental strategy. For Example, being a nurse you know how travel nurses are always looking for a furnished rental. This could be a small multifamily or a rent-by-the-room strategy. It really starts will figuring out your budget based on what loan amount you qualify, then based on that amount, what area of town makes sense for you, your lifestyle, your commute, the kind of tenants you want to attract. 

Over the last 5 years, I have help dozens of people from BiggerPockets figure this out, and many are now on their 3rd househack with positive cash flow every month. 

Hope that helps!
   

Hey Zee, 

Happy to jump on a call with you. I've helped, and work with many people with the investor mindset on BiggerPockets for the last 5 years. 

Hey @Joon Kang, I have some great realtor friends in Jacksonville, we are in a mastermind together, and they invest themselves in the market too. Hit me up and I will connect you!

The many options manage expectations and home dynamics, mostly depends on the property owners preference. Most of my clients are in SD, yet have clients househacking across the county, a few throughout the state.

@Keith Mintz when you say co-living, are your referring to Rent-by-the-room househacking strategy? If so, yes I have many clients where this is their strategy, some on their 3rd property in 3 years. It's a strategy I recommend often for people who want to get started, don't qualify for a high LTV on a small multifamily, and comfortable with housemates. It works with condos, townhomes, single family, and small multi families.