All Forum Posts by: Mikael Winkler

@Junix Alcayaga absolutely. I need to get back into that habit myself!

Checked out the before pics on your profile. Fantastic job! Really saved this property. Were there any structural issues you had to deal with? Looked in pretty bad shape before you turned it around.

Are you able to go that 5% down conventional even if you're not occupying the property? 

I really agree here. If you can utilize FHA, you may be able to get into a property for cheaper, single family or duplex. And, if you find a property that needs work, and is priced low enough, you can force that appreciation through rehab, then potentially have enough equity to take out a HELOC on it to use for more investing. Not sure if there are properties you can find like that in SoCal, but if so, I think that would be a great start.

@Peter Lohmann ahhh ok. That sounds like the way to go. Something to really think about moving forward. Thanks!

@Ryan Mainwaring

This looks great! and $1200 for a two bedroom potentially down the road? Even better! 

@Peter Lohmann @Sean Dawson

I assume Guardian is a 3rd party vendor that handles usage and billing? How does the bill from the city mesh up with them? Does it get sent to the property owner still, as well as, Guardian? 

Have you explored the possibility that your market may work a little better if you house hacked a BRRRR (live in the property for a period of time)? Whether it's a single family or small multi, you'd potentially be able to get in for cheaper. I did this on my first, as there was no way I would've had the ability to put 20%+ down on anything. But, being ok living in it for awhile, I was able to go 3.5% down FHA.

@Junix Alcayaga @Lacy Green

One thing that really helped me starting out, and something I need to get back to doing honestly, is reaching out to owners through cold calling and mailers. Even if you're not in a position to buy, you can really learn a lot about areas and what people actually investing there think. I certainly have gotten my share of "leave me alone, stop calling", but I've also had some really cool, interesting conversations. 

@Ryan Mainwaring yes, we shall see. The Summer will be very telling as to what a new “normal” might look like. I do think people are ready to get back to a sense of normalcy, albeit, being a bit more cautious than they would have previously. I do think that Air BnB will rebound better than something like hotels, in which, tons of people are all together. The whole home Air BnB listings, I think, will give people peace of mind knowing they’re the only guests there.