All Forum Posts by: Payton Haight

Hi Eshe, welcome! I would still consider myself early stages in some aspects, but one thing that has helped me to stay consistent is writing out my goals and then working back from those goals to specify (and quantify) the actions needed to achieve those goals. For example, making X number of calls per day, setting up X number of meetings with potential clients per week, analyzing X number of deals per day, etc. Setting measurable targets has helped me stay consistent even when I may not see clear progress.

Hi Gp, I typically listen to the Podcasts on my iPhone through the Podcast app, but you can find BP podcasts in the BP app by selecting the 'Content' tab.

Hi Joshua, congrats on the success with your mid-term rental (MTR) so far. From your question, it sounds like you live on the property with your MTR so you currently receive your personal mail along with any mail that comes in for your guests - is that correct? 

All of my units have their own mailbox so fortunately I have not had to deal with this issue. However, I had a similar set up when I stayed in an ADU MTR for 6 months. All of the mail would go to the main house and the owner would drop off any personal mail as it came in. Are you finding that guests have an issue with that process?

Hi Alec, welcome and congrats on getting started! I have had luck finding lenders through recommendations in local investor Facebook groups and meetups. If you are not already, I would recommend attending a local investor meetup to see what other investors in your area are doing and who they recommend.

Hi Chaim, I am sure someone from the BP community in your area will reach out, but I would also recommend checking out some of your local meetups (if you have not already). I am investor in the Midwest (Illinois and Ohio) - glad to chat or answer any questions not specific to your market. Good luck!

Hi Sharon, this is interesting. I am curious to see what others have to say on the topic.

Regarding loan options, have you looked at DSCR loans to use the property income to qualify? I have not looked in to it for an investment property, but some form of an asset depletion loan may be an option. Just a few ideas.. I would discuss your situation with a mortgage broker (or a few) and see what solutions they may have for your situation.

hey Chris, welcome to BP and congrats on catching the 'bug'!  Somewhat similar to your situation, I got started in real estate investing when I was living in Southern CA (Orange County). The price point for a single family home or even a condo was pretty high and the long-term rental numbers did not meet my goals - in general they would not come close to cash flowing unless you're putting 50%+ down. I decided to invest out-of-state in the Midwest (Illinois and Ohio) where I was able to find properties that cash flowed and have also seen good appreciation.

As far as advice for in-state vs out-of-state, I would have preferred investing in state, but the numbers did not make sense and I would have had to delay my investing journey by several years waiting to save a large enough down payment to get started. If you can find deals in your area that work for you, great. If not, you may need to look out-of-state to find deals that meet your goals. 

When I was investing out-of-state, the most important member on my team was to have an investor-friendly real estate agent. Not only can they help you find a property, but they should be able to provide feedback on rents, contractor contacts, handyman contacts, and property managers (if needed). 

I am investor-friendly agent in Columbus, OH with actual investing experience. I would be glad to chat any time if you have questions or are just looking for feedback.

Payton Haight

Good thing I came across this post - I did not know BP had an app. I have been a BP user for years and never thought to check. I will give it a try!

Welcome Sandy!

Hi Liuba, did your tenants provide any more information outside of requesting that the yard is sprayed for bugs? Are they concerned about mosquitos? Based on the info you provided, your response seems reasonable. Of course if there is a large wasp nest or some safety issue, you should get that taken care of as soon as possible. In the future, this may be a good item to clearly call out responsibility in your lease, if it is not already. That will eliminate any confusion on the topic in the future.