All Forum Posts by: Moses Moreno

@Jamie Bateman

Thank you for the referral Jaime!

@Phommala Songkhors

Thank you for the referral! I’ll reach out on Monday.

BP Nation!

Anyone have any referrals for Note Servicing companies that deal with Seller Financing transactions? We just closed on our first Seller Financing deal (as a Seller) and looking to turn over the servicing to a 3rd Party firm. Preferably a company that offers Customer Service in Spanish.

Thank you!

@Abraham Klein

Per YouTube TV: 

YouTube TV lets you stream content on up to three devices at once, and you can share your account with up to five family members.

@John Majoris

One last thing to note. Make sure your internet/WiFi speed is adequate for streaming services👍🏼

@John Majoris

We use Roku TV's for our STR. They are inexpensive and only require 1 remote! For Streaming services we use 1) YouTubeTV, 2) Hulu, 3) Amazon Prime & Peacock, so we provide plenty of options for our guests. You would be fine with just YouTubeTV, since it includes lots of content + local programming. Just include the change in your house manual and/or with your pre-check information and you'll be fine. We are going on a year and we have yet to receive any calls/texts with regards to operating the remote, apps or streaming services.

@Kelly McJunkin

What a position for you and your family to be in! I was born & raised in Chula Vista so I know the area well. When my brother sold his comparable house in Rancho Del Rey a few years ago for $650k, I was amazed. The fact that the area has appreciated to $800k+ is incredible!

Other investors on this forum can break down the X's & O's much better than I ever could. For me it's a matter of PEACE. What decision will create the most peace for you and your family? A $500k-ish payday without capital gains? Or becoming a first time landlord and starting to build on your portfolio? If it's the latter, be prepared for the ups & downs as a RE investor, and make sure you stay focus on the BIG picture! My wife and i have gone through 2 super stressful evictions, and the only thing we would change is our screening process! We started our REI journey in 2004, when we decided to keep our SFH in Phoenix as a rental, and that decision inadvertently started our RE investment journey. To date we currently have 6 doors and just 1031'd our original Phoenix SFH into a highly successful short term rental in Idyllwild, CA (#idyllwildtreehaus). Side Note: If you keep your home you may want to consider looking into doing a STR. (Potentially better income, better control, and gives you the flexibility over your home, and it fun!)

My wife (44) is a hairstylist and I’m a W-2 employee (45) and we are crunching the numbers to see how we gain financial Independence in the next 10 years. This conversation would not have been an option if we decided not to keep our first home

In my eyes it’s a win-win for your family! Best of luck on your decision and we look forward to hearing your decision and your progress as you continue to move forward!

@Russell Payne

Hi Russell, you’re getting a lot of solid advice from this forum! Keep plugging into BP to keep your mind going and be prepared to strike when the opportunity presents itself. Starting out in SoCal will definitely require solid planning and taking that calculated leap of faith since our real estate market is bananas! This is our side hustle, and my passion project and my wife and I still hold 9-5’s.

I self managed my first SFH in Phoenix from San Diego for 10 years, so out of state management is doable but challenging. I now have a solid Property Manager and looking back, I can't believe I did all that for 10 years. We were fortunate and never had a day of vacancy, UNTIL my last tenant of 7 years fell off the map. First eviction, which is what led to my PM search. His screening criteria is much better than mine ever was.

Second eviction was here in San Diego and it took 6months to get my unit back. SCREENING IS KEY! Definitely a stressful season but we came out of it stronger. Know the landlord/tenant laws in each state and have your Cash Reserves in place prior to. The eviction process took 6 months in CA, 30 days in Phoenix.

We recently did a 1031 exchange for the AZ property into our first short term rental in Idyllwild, Ca and it’s been an awesome experience! The home was mostly turnkey, but we painted the interior and exterior (we always wanted a black home) and provided all new light fixtures and furniture. Creating something from scratch is fun and expensive at the same time. We are 4 months into it, so it’s still relatively new for us, but we both enjoy being hosts and the income has been solid. The bonus is that it’s only 2hrs away from home and we get to enjoy it with our friends and family!

We still like the mix of long term and short term, but would be open to getting another short term rental close to San Diego. We have 2 LTR condos in Scottsdale and would be open to selling those next year and possibly parlaying that into another STR.

Check out our AirBnb and message me if you have any questions. We also have friends that are in the STR market in Joshua Tree, Big Bear, Crestline, Lake Arrowhead and they all seem to be doing well. It all just depends on the numbers though.

https://www.airbnb.com/h/idyllwildtreehaus

Looking for a solid & reputable Property Management company for a 4-plex in the Stapleton area of Staten Island. Leaving NYC for San Diego soon and would rather not self-manage from across the country. Any/all recommendations are appreciated!

Hey Fellas; My buddy has a 4-plex in Staten Island, in the Stapleton area near The Hop Shoppe. He has been self-managing this complex for the past 10 years, but will be moving to San Diego full time soon. Do you guys have any local Property Management companies that you can refer? I appreciate the feedback!