All Forum Posts by: Konstantin Ginzburg

@Weronika Jedrak

We have tried furnished finder in the past but have not had much success on it with the leads that we were getting generally attempting to ask for rental rates below market rent. One option to try is to identify the hospitals that are close to your property and try to reach out directly to their HR departments. Many hospitals have staff in place who are in charge of placing traveling professionals. AirBNB is still a good place to find MTR tenants as well. AirBNB is primarily known for short term vacation rentals but your minimum stay can be set to 30 days to ensure you are getting MTR tenants. It is a platform with a large user based which will help drive more potential viewers to your listing. If you are near any colleges, that can also be a potential source for MTR tenants. In that case, reaching out to the office of student housing at the college or posting your listing on Facebook pages that are created for student housing searches for that college can be a good marketing strategy. We have used that technique in the past and have had a lot of luck with it. 

@Rich Davis

It completely depends on the individuals goals and the market they want to invest in. Some markets are simply better suited for appreciation vs cash flow while other markets are the opposite. If someone wants to be within a specific market, the conditions within that market may wind up making that choice for them. I think the goals of the individuals is also crucial. If someone does not need the income coming in from rentals because they have other sources of income, they might be more able and willing to wait to get a larger return from appreciation. However, if someone is depending on that revenue to meet their regular bills, then they might benefit more from a cash flow property instead. Its hard to make broad appreciation vs cash flow assessments without looking at the individuals goals and situation. 

@Brandon Bell

If you have a loan officer you are planning on working with, it might be best to consult them first on the best route to go for this scenario. Lenders do have requirements that must be met when dealing with money that is coming from parents. This is often viewed as a "gift" so lenders place limits on the amount that can be "gifted" as well as the manner that these funds can be transferred to you. 

@Molly Jones

Unfortunately, many wholesalers that you meet randomly online are not very experiences or particularly skilled at what they do and often rely on bulk rather than quality so there is a high probability that they know very little about the property itself aside from the basic data that they obtained online through data scrapping. Wholesalers do not have a legal fiduciary duty to buyers to disclose all or even correct data to buyers so a lot of the information that you will need to obtain about a property will be your responsibility. Once you have the address, there are several things that you can do to obtain more information about it. You can try to look up the property on platforms such as Zillow to see pictures and more information on the property itself. If you have a friend with a real estate license that may be willing to do you a favor, you could ask them for property information that is listed on the MLS which may contain additional information. You could do a search on the local city's permitting website to see pending permits or recently completed permits which could show you pending or recently completed work on the property. You can ask the local police precinct for crime reports within that neighborhood to get a better feel for the safety of the area. There are other options you can look into but these ideas should give you a starting point for places to look into for more information about a property.

@Jesse Leigh

Typically a multifamily (2-4 units) has a higher cashflow compared with a single family home but will also required more work since you are managing more units/tenants with a multifamily. How easy it is to acquire a multifamily is very dependent on the location. Some areas have built a lot of multifamily properties; some areas are primarily made of single family homes and very few multifamily get on the market. Keep in mind that once you are into commercial level multifamily (5 units and above), you are now dealing with commercial financing and valuation which is very different from residential valuation and financing. 

@Michael Ferrante

https://www.amazon.com/Book-Managing-Rental-Properties-Scree...

I am a fan of Brandon Turner for real estate investment books. 

@Leonardo Morantes Gomez

You can still claim the same tax advantages with real estate whether or not the house is put into an LLC or not. Consult with a CPA regarding a depreciation schedule to accomplish this. The choice to move it into an LLC is about separating yourself from the asset so in theory, if anything happens at the rental, the person can only go after the house in a lawsuit rather than your personal assets. Some people want this added separation, some don't since an LLC can still be "pierced" in court so they choose to protect themselves with correct liability insurance instead. Accomplishing the transfer would simply be a matter of signing an Articles of Transfer or similar document with a title company or an attorney.

@Farzan Setayesh

You do technically have the ability to take them to small claims court if you wish. If you get a judgement against them in court and want to file a claim then it will affect their credit. However, this will all cost you time and money. It may be a better use of your time to begin advertising this unit so that you can get a new tenant moved in as quickly as possible following your current tenants move out. For compensation, you could keep their security deposit as you are within your rights to do so based on the lease you signed. I am also not familiar with California rental laws so be sure to check with someone more familiar with local laws to ensure you remain compliant with those laws. 

 Try here, this is the website for the National Real Estate Investors Association. They have a database that displays all active chapters as well as the contact information for chapter members that you could try to reach out too for more information. 

https://nationalreia.org/find-a-reia/

@James Carlson

I suppose I am part of the problem (born in 1986). Whoops.....

But I have been telling other's the same thing throughout the last year. I fully agree with you. There are simply far more people currently looking for a home right now then there are homes for sale on the market. Since the 2008 recession, construction has dropped and has yet to recover back to those levels. In the meantime, the population of the country has continued to grow. This has left a continuously widening market gap between supply and demand. Home prices remaining elevated despite rapid interest rate spikes is a very good indicator for how out of balance the market currently is. This is likely the environment that we will remain in for the foreseeable future. Barring an unexpected flood of housing being brought to market, I do not see a scenario where supply and demand will balance out. Even if construction is elevated back to pre-recession levels (and that's a big if); it will take several years of heightened construction to balance out the supply/demand imbalance.