All Forum Posts by: Nicholas Coulter
Nicholas Coulter has started 12 posts and replied 664 times.
Post: San Diego eviction process
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
Havent gone through it personally but that sounds like a nightmare! You think the tenant would be up for a cash for keys?
Post: CA investment home
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
Quote from @Kelly Monteiro:
Hello CA investors,
I’d love to pick your brain on deciding between two investment homes for a short-term rental. I’m aware California is not the best market, with the restrictions and potential new tax coming up, etc, but we have personal reasons to invest there.
With that said, we visited a lot of houses in the San Diego area and saw 2 that seem like a potential fit for us: one is a smaller 3 bedroom but a mile from the beach and the other is a 15-17min drive to the beach, but bigger with 4 bedroom and a little cheaper, which would allow us some cushion to invest on a hot tub or potential pool. This would be our first rental investment, so we’ve been learning a lot and I would love to hear thoughts from this community. Thanks once again!
We STR in north park and the property does very well as a 4-2. We sleep 10 with 2 rooms each having 2 full beds. Average for the 2 past years is roughly 9k monthly income. Pre expenses and mortgage
Post: Investing in San Bernardino County
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
@May Mirzaei have you considered a Househack? Typically I suggest that strategy with new investors.
Post: House hacking with 3.5% FHA. Used mine, how do I get my 2nd house hack?
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
@Ian Duffy I can refer some contacts for loan options. We are currently in the process of converting our garage to an ADU. We Currently STR our Main home and live in the JR adu so the goal is to really supercharge the ROI.
Post: What Business Structure to choose?
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
Quote from @Ryan Prange:
hello everyone, over the past couple of years we have purchased two single-family homes and also built a guest house on our property. I now have three tenants and I lease part of one of the properties back to my business as a storage yard (so 4 streams of income). My question is ... if I would like to keep doing this or work in fix and flips or other forms of real estate investing, how should I structure an actual business? right now I manage everything using Sessa and have individual bank accounts for each property. I keep good records and have clean books. I have loans on two of the properties and am concerned that if I transfer the properties into an LLC that the loans would be called .
My Landscape company is an S Corp so I am familiar with that business structure, but I just don't know the best way to structure a real estate company. Would I be a property manager? Would I be something else? I appreciate everyone's advice.
Do you have a CPA that you are currently using that is both Small business and REI friendly?
Post: Gas tankless vs tank water heaters
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
I love ours but in San Diego the hard water took out our first unit. I would make sure you are flushing the unit at least once a year for maintenance. If possible a water softener would be ideal.
Post: Investor Seeking Advice on No Money Down Deals and LLC Setup
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
@David Vu have you explored the sub to community? If you are looking for no money down deals thats where I would start. If you want little money in and starting earning I would consider trying to find distressed properties for flippers and deliver them through wholesale. You can collect a finders fee.
Post: So cal based rookie investor!
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
I would reach out to an Agent in that area that also invests themselves.
With OOS state investing you should be aware of the relationships and Team you will need to have out there. A great investing agent knows those people and will have a goal of you making money so you come back to buy more.
Post: Any advice to update this bathroom
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
Quote from @Nicole Rhim:
Quote from @Nicholas Coulter:
What are other rentals near your area offering in terns of finishes on the bathroom? I would match those and stay clear of over improving the place.
Thank you! That is great advice. It is tough because it feels like a mix but I would say it is a B-/C+ area so I will think about that when doing this.
I’d follow Nathan’s advice. Throw in a vanity and put up a mirror. Dry wall finishes with the right paint to hold up with the humidify of a bathroom
Post: Should I buy down the rate and lower closing costs on a new construction subdivisio
- Real Estate Agent
- Southern California
- Posts 680
- Votes 281
i dont see them going below 5%. In all honesty with the 5% down difference it depends on where it goes. I think of it this way. 10% down gets you 3% more in concessions. That extra 5% isnt gone, just in a deeper equity position. Based on your PP the difference you would get investing that 5% wouldnt add to more than the extra 3% of pp you get. If you can double or triple the 7k in a year why invest anything in a DP? Guessing thats the hopeful return not the guaranteed return of this deal.