All Forum Posts by: Matthew Chen

@Sebastian Marroquin
Thanks for providing that overview Sebastian, makes things very digestible. I have been brushing up on my home knowledge but from what you've said I will probably not be looking at extreme fixer homes as I don't have the depth of understanding nor the time to tackle multiple large items.

@John Teachout
Definitely, I've been learning a lot from the forums already. Thanks for sharing those materials and components, I'll look into them!

@Joshua Janus
That's a good recommendation, thank you. I can definitely see that being an issue especially if I don't have a really good relationship with the contractor.

@Theresa Harris 
Ah unfortunately I am not American but I do see your point. I've been trying to understand the American landscape more generally to compensate for this. I do appreciate the advice on finding the appropriate realtor and property manager though, that seemed to be key in a lot of the resources I've been reading.

@Sylvia B.
That's a fair analogy but again I'm just starting to dip my toes in this and am probably far from making my first purchase so really I'm just asking what are the mechanics of X, Y and Z :)

You definitely raise a good point though, since I have never owned a home I do not know the anatomy of a home. This seems like prerequisite knowledge but it's not something that has been raised in any of the things I've read so thank you for that! For more context I am 25.

@Theresa Harris, ah that does make sense!

@Sylvia B. I definitely do need more experience, at this point I'm just trying to do my due diligence of understanding this world more. My current plan was to visit an out of state city for 2-3 weeks and try to see as many places at a time (and potentially making offers when comfortable) after doing my research into the city. I appreciate you grounding me though! Would you recommend new investors to start with higher-quality / newer homes (less repairs / renovations required)?

@John Teachout thanks for reaffirming some of the other posters! Seems like rehabing from a distance would be a steep move for a first-time investor. As someone that did not even know about some of those terms (sheetrock, sash), I think I ought to start with properties that require less rehab. Would you agree with that general sentiment?

@Theresa Harris thanks for the reply! If I'm understanding correctly, these places will have obvious repairs that are required? Does this information come from a home inspection or are you able to determine this yourself?

It would seem tricky to put forth a reasonable offer and then get information on repairs required down the line. 

Hi all, first time investor here looking at OOS rental properties from Los Angeles. Have been reading these forums, The Book on Rental Property Investing and browsing reddit. I am getting confused about the concept of Rehabing.

I understand there are different types of things to rehab and there are ways to estimate the cost of rehabing but how do we decide WHAT to rehab?

Should these decisions be deferred to a contractor? For example, could one ask, "what are the most cost effective improvements to this property"? I would find it difficult to say, these walls need changing, we should update the kitchen, etc. and then decide exactly what to do to them. I haven't found many good resources on this yet and I've heard rehabing is a great way to force appreciation and "make good deals".

Thanks all.