All Forum Posts by: Maya Bulleit

Though this is an older thread, I'd like to point out that if conditions are right, a leasehold property can still cash flow very well. If you have 10-20 years left on the lease and it is a property that is permitted to do nightly STR or even minimum 30-day rental, you can still make a lot of money with cash flow. If the property is only $50,000 and HOA & lease pmt is low, you can still cash flow.

I am not afraid of those leaseholds and in fact welcome the opportunity to rent it out for daily or 30+ days where permitted, then get out at the end of the lease.

The big risk is if Honolulu decides to impose even stricter STR restrictions such as 60 or 90 day minimum rentals.

2 Votes

Honolulu, Hawaii

Thank you for the reply and recommendations, @John Mendez!

1 Vote

BP Community,

For anyone who has attended any of the bootcamps--need help!

Having a hard time selecting from three of the new BP Bootcamps: Multifamily, Short term, and Rookie. We are interested in multifamily and short-term investments and will be making a decision to purchase one of the two, within the next 2 months. The issue is that we can only attend one of the bootcamps for now--but not sure if we should choose the rookie or one of the others. Rookie may provide a general overview, but we really want to get into more detail with multifamily or short term strategies... have to choose soon!

Which would you choose if you could only choose one for now?

1 Vote

Thank you @Scott Wolf, rents are high here in Oakland. I ran the comp rent numbers for this neighborhood and we would be in a good position, even with the cash out. We would do better with a MF investment, though.

1 Vote

Excellent points, thank you for sharing your knowledge @Brett Chandler

1 Vote

thank you, great advice @Jordan Fulmer!

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Originally posted by @Jordan Fulmer:

The first thing I would do is make the improvements that you're talking about to your primary home. The improvements you're talking about probably won't make a huge difference, but it might slightly increase the appraisal value when you go to refinance. Note here: since you will be making this a rental, make sure you leave some equity in the property and don't overleverage it. Also, make sure it will still have a decent amount of cash flow with the new payment. I would say refinance here because you will be using most of it to leave in an investment long-term (down payments)

Then you could move onto either of the 2nd or 3rd options. I might recommend buying your next house to live in. That way, you could get your feet wet renting out your first house before diving into multi-family.

I would say to use traditional financing for the purchase of your next home.

The financing on the multi-family depends on whether you will be buying something turn-key or something that needs repairs. If it is turn-key, I'd go with traditional financing, and if it needs work, you could do some variation of a BRRRR.

Hope this helps!

0 Votes

I have approximately $500,000 equity in my primary (and only) home. I have three goals and not sure which to tackle first. Curious to know what others would do.

Improvements on current primary home (new roof, exterior paint, perimeter wood fencing, etc.)
1. we plan to hold/keep this property as rental
2. financing: should we do re-fi cash out or HELOC?
Move up purchase (same size home, better layout, with larger lot, quieter neighborhood, etc.)
1. financing: should we do re-fi cash out, HELOC, or traditional loan?
Small multi-family property investment(s)

financing: should we do re-fi cash out, HELOC, or traditional loan?

0 Votes

Will you be hosting another event soon?

0 Votes

All Forum Posts by: Maya Bulleit

Maya Bulleit has started 2 posts and replied 8 times.

Post: Cheap studios in Honolulu. What's the catch?

Post: Which BP Bootcamp to choose??

Post: Which BP Bootcamp to choose??

Post: Newbie asking: How to best use my $500,000 equity

Post: Newbie asking: How to best use my $500,000 equity

Post: Newbie asking: How to best use my $500,000 equity

Post: Newbie asking: How to best use my $500,000 equity

Post: Bay Area InvestHER Networking (in person!)