All Forum Posts by: Sam Booth

Depending on the unit, it can be done yourself. I agree with @Bruce Woodruff that is probably should be done by a pro, but I have done one (Pioneer) and it was pretty easy. You can buy the vacuum sets pretty cheap and there are a ton of videos online on how to do it. I also did my own wiring.

Related video - https://www.youtube.com//watch?v=M3WXL8TBWJs

How do you like your system? Thinking about doing this as well as labor prices are so high and I have time

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Atlanta, Georgia

Got a 2 bed 1 bath property in California that has a AC unit in the living room and a wall heater (older home). Is it worth it to put an a minisplit (2 bedroom so 2 or 3 heads?) Or a full on hvac system with ducts.

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Quote from @Crystal Smith:

Quote from @Sam Booth:

I have two opportunities coming up and wondered what you think of these:

Property 1 is a duplex is a 1/1 each side and in a town of about 13K population and they are asking around 425 with zero offers on a duplex that when fully rented would be around 3000 gross rent. Right near the cool old downtown area and good schools and A rated area. On market 120+ days. Has a brand new roof and zoned for adding 3rd unit.

Property 2 is in a larger suburb area with about 80K population and in a county of 2 million. Its a duplex 2/2 each side with gross rents of 4000 and asking is 500K. Multiple offers. B grade area and good schools.

I think property 1 will be easier to get under list price but not sure of vacancy rate since it's a smaller town. Both areas are in my backyard and would be self managed. Both need some renovation. Just purely looking at numbers property 2 comes out ahead buy a few hundred bucks a month depending on how high it gets bid up.

Any advice on this?

Make offers on both properties at a price point that makes sense for you to make money and considers the cost to renovate & the vacancy rates. Assume a higher vacancy rate on the property in the small town with only 1 bedroom units.

Thank you! It's hard to figure out in California which way to calculate profit. Cash on cash is low, the irr is higher, and the car rate looks decent. Thanks for your input

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Quote from @Zachary Keene:

@Sam Booth I agree with @Bradley Buxton, it’s the lopsided window layout that’s throwing it off for me. Even if it wasn’t another window, something in that void would really help.

How's this mock up?

You get the idea 😄

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Quote from @Account Closed:

Quote from @Sam Booth:

Quote from @Account Closed:

Quote from @Sam Booth:

I have two opportunities coming up and wondered what you think of these:

Any advice on this?

Make an offer on property 2 that makes sense for you. The other one isn't going to sell right away. Bid on property 2 and see what that brings. If you wind up with property 2, you've answered the question. If property 2 bids up too high for your liking, you chase property 1 to see if you can buy that for a price that makes sense to you.

Thanks for the advice, are smaller towns okay in your opinion if property 2 doesn't work?

I favor towns of 10,000 to 100,000. The big cities are hard hit by other investors. As long as they are not a one company town. I believe there needs to be diversity of jobs in the area.

Cool, it's actually the county seat of the county and very low unemployment compared to other areas. Tons of recreation as well so could be good for a short term rental or medium rental

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Quote from @Account Closed:

Quote from @Sam Booth:

I have two opportunities coming up and wondered what you think of these:

Any advice on this?

Thanks for the advice, are smaller towns okay in your opinion if property 2 doesn't work?

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I have two opportunities coming up and wondered what you think of these:

Any advice on this?

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Quote from @Alecia Loveless:

@Sam Booth You likely haven’t found the right agent yet. My agent has made me hundreds of thousands of dollars on deals. He never seems to tire of showing me deals. I am realistic about the market when making offers and do not just low-ball everything unless it is warranted.

In my market currently the list price is pretty close to what they’re going to sell for.

That's awesome, not my experience though. I usually go under list on properties that are on market for over 90 days. Also, case in point they are usually properties that fell out of contract or have no current offers. Sellers don't want to go down at all even though we try to offer good terms.

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Quote from @Russell Brazil:

#1) You have no idea how much the listing agent will make. Assuming that they may make double, could be true, or could be completely untrue.

#2) If you are banking on the fact that the listing agent is motivated by making double the money and stear the property to you.....that means you are operating under the assumption the agent is unethical and willing to do something illegal, ie stear their seller to a worse offer so they can make more money. If that is the case and the agent is willing to screw their seller over, why wouldnt they also be willing to completely screw you over in some way?

Good points for sure.
I have worked with about 6 agents and all of them seem to be tired of writing offers for me. I have gotten properties under contract but I can tell my agents are ready to be done. Maybe I just have bad agents

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Quote from @Theresa Harris:

You could argue that most agents are middlemen between the buyer and seller. Having your own agent means they are looking out for your best interests. Using the seller's agent puts them in a conflict of interest and most can't give you the same advice because of that.

That's a good point. I guess it always seems like they don't want to make low offers on my behalf or after you walk a few homes that don't work out they check out. 🤷

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All Forum Posts by: Sam Booth

Sam Booth has started 44 posts and replied 226 times.

Post: Installing Mini Splits Air Conditioner's

Post: 2 bed 1 bath - Mini split vs Hvac vs Ac

Post: Is this a good deal?

Post: Curb appeal for thus duplex?

Post: Is this a good deal?

Post: Is this a good deal?

Post: Is this a good deal?

Post: Use Seller Agent to buy property?

Post: Use Seller Agent to buy property?

Post: Use Seller Agent to buy property?