All Forum Posts by: Kevin D.

@Julie McCoy I recently did some hiking in Sequia and love that area.  It'd certainly be great to have a business reason to make a trip or two out there a year with a little exploring while I'm there.  It's a bit farther south than I'd prefer but will certainly take a look and will definitely target closer to that 1% mark you and @Sean Walton suggested.  

I may reach back to you if I end up drilling down that that area with a few more questions if that's okay.  Thanks.

Originally posted by @Sean Walton:

Sorry I'm not that familiar with purchase prices in those areas but I would shoot for something that hits at least $2500/mo for a $250,000 (1% rule) purchase price. Doing short term rentals that shouldn't be difficult.

Great suggestion and reminder of the 1% rule.  I'll certainly set the bar for my deals at that level.  

What is your desired level of involvement? Daily or weekly rentals will bring in more money but you will need good systems in place or you will burn out quickly.

I'll need to research how use of a property manager works on an STR. I'd expected I'd use VRBO or AirBnB to help in marketing, bookings, etc. and will seek a reliable cleaning service and handyman to keep the place taken care of. I'll be building that all into my numbers.

Great tips, thanks Sean! 

Michael, you’re probably right regarding the difference in prices from Florida. Costs are definitely scaled up here. When you say FB do you mean Facebook? I didn’t realize they had a classified type of service. Thanks, I’ll check that out!

My wife’s family has a challenging ag property issue (to complicated and off subject for this category on the forum) and I’m seeking cost tips on used Mobile Homes. • How much for a simple but livable unit? (ignoring shipping which I’m sure varies widely) • are there effective sources to seek units for sale (aside from Craigslist)? • any other advices on what to avoid, what to look for, etc? If anyone cares to post ballpark/ROM figures for basic hook up costs, here is their situation: they are leech field septic, well water, city electric, natural gas hookup and no cable/satellite tv that would help tremendously. Thanks in advance. Kevin

My wife and I are considering Cleveland properties and have been learning about Turnkey operator AYS out of Cleveland, OH. It’s run by Stacy Collins Sr. and so far, they seem to run a solid org. However, so far much of what we’ve learned is from local brokers and some from friends that have each made single purchases with them. So far, three close friends and colleagues I know of that have expressed that the products (SFR for around $50k-$60k with 9-11 CAP and 9-11 CoCR) are largely as advertised plus a few acquaintances that have expressed mostly positive accounts as well. So far still a fairly small sample size so hoping to expand the sample size a bit through this thread. I’d be happy to DM some specifics that I know on paper but my focus is true experiences others have had. Please share if you’ve done deals with them. Thanks!

Does anyone have suggestions for mountain communities in Northern California between Latitude of Sacramento and as far south as Fresno where I could achieve the following with a primarily VRBO investment but occasional personal use: • Near ski resort (not necessarily prime Tahoe but smaller like Bear Valley would do) • Purchase price at or below $250k • Monthly short term income of at least $1500 typical • condo or cabin bit cabin preferred Some areas I’m familiar with are Tahoe/Truckee (typically too expensive), Arnold, and Lake Huntington. All are good options but hoping to find the right niche to invest in. Thanks in advance, Kevin

Thanks Jerome!  I had heard of that and will certainly check it out!

Hello BP'ers,

My wife and I are looking for a new home in or around San Jose, CA and are considering "House Hacking" ideas such as duplexes, lots with auxiliary units, or even lots large enough to add an auxiliary unit to rent out. We are doing this to keep housing costs low compared to a standard SFR with a full mortgage pmt and zero rental income, allowing us to keep growing our investment capital for rental properties with higher cash flow (out of state primarily). We consider ourselves open to the idea of landlording and managing the property but since the tenants would be sharing the property and possibly/likely sharing walls and other amenities, we'd like to make sure we've sufficiently considered all of the potential pitfalls, pros, and cons.

I've been reading the forums, listening to the Podcasts, and talk frequently with friends in the area that invest so I've got a decent basis of knowledge but what I'd like is a post for other San Jose (or other South Bay Area) hackers to share stories, good, bad, and otherwise.  I know that California is not the greatest state to be a Landlord in compared to some others but obviously, people do it so I thought we could share stories here.  

If anyone has come across any books, blogs, etc. that are specific to this unique niche of landlording, please let me know.   

@Katherine S., completely agree and have already told them we'll be providing them a note to pass along to futures landlords to be. 

Well, this will be one of the shortest threads ever.   Our tenant called and needs the rent set considerably lower.  He's spot on and seeking roughly 3x his income, same as what we are seeeking but this puts the rent considerably lower than what we can afford to lower it to so he's unfortunately going to give notice and move out. Too bad.  Looks like we'll be seeing new tenants.