All Forum Posts by: Seth A. Weber

Hi @Anna Strausbaugh, I sent you a PM. looking to hear more about the property you mentioned.

Enjoy the Day!  Seth

@Jami Vincent Yes, I manage my properties myself with apatments.com.  How did you list your property for rent?

 @Jami Vincent   Hi Jami, I live and invest in the area.  Please feel to message me and I can see what I can do to help you on your endeavor!

@Aaron Akins Yes you ate correct! I live in the area and have been able to complete 4 BRRRRs outside of McCall in the last 4 years. They are all long term rentals at this time. Three cashflow from 100$ to about 600$ each, the latest one(refi this week) is a break even deal. Which is a base hit for me and stoked. You are right about appreciation being real good and the cash flow is questionable at best. Granted I have not ventured in STR but could see how that would be profitable in the right property/location. The market is so tough here, I am right now deep diving into BiggerPockets on long distance STR/LTR investing. I.e Tucson, Gulf Shores, Oregon Coast.

Message me and if you would like to talk more. -Seth

Yes Bruce, I agree.  That has been model for the last 3 rehabs and would rather go the way of a full rehab.  As for the rent vs. rehab numbers.  The "light" rehab would be around 20K and would be a 3/1 smoking unit guessing rent could be around $1500 a month,(this is going rate for non-smoking units). that would be 200$ a month in cash flow. 

The Extensive rehab inclusive of an ADU addition would be about 90K for a 2bed/2bath unit (1500 month rent) with a 1bed/1bath unit (800$ month rent). 450$ a month in cash flow

more background: I live and operate in a small rural market doing most of work on my own rehabs, kinda the one project at a time approach. Well I happily have two projects about to be going at the same time and have a new ADU construction project starting next year. And was thinking if I just keep a minimal investment of time/money in the smoker house now and do the big rehab down the road for bigger cash flow of Also the lot is zoned commercial so there is the chance of a complete tear down and a new 3-plex construction.

thanks for your interest.  

Good Morning BP folks, I have a SFR (3bd/1bath) under contract that has heavy smoke damage. The unit would require extensive work to remove the stains/stench as well as make needed rehab updates. I am thinking about doing going big or quick and easy...

Option 1: "light rehab" of paint/cheap floors/etc.   and marketing the unit for smokers and pets.  Current rental market for the area is extremely limited and I have never seen a unit advertised for smokers/pets in the area and I believe there would be a lot of interest.  

Options2: "Full Rehab" - Complete update and replacement of everything. while adding a second bathroom and possibly adding a small Attached ADU studio. Marketed to non-smokers and no pets.

Anyone have thoughts on renting to the smoking community?

Thanks for your time and Enjoy the Day!!!  

@Dave Carpenter thanks for your input.  the property is in a county community, I see the renter(Car washer operator) being more local, as the closest car wash was is a hour drive in either direction.

@Ryan Clark, @Steve Cheslock, Hey guys how did things end up with your car wash opportunities? 

I am evaluating something similar.  the property is a 10 slip, long term RV park (no Amenities), with a 2-bay coin operated car wash/ 1 vacuum. Location is along a major road with heavy traffic.  Owner states separate metered Elec. for each slip and the car wash, shared municipal water for the entire prop. While we are still in number discussions, it appears the lots (room to increase rents) are the bread winners, and the car wash is added cash flow.  Not really interested in the Active mgt. role the car wash needs do to my travel distance.  

BP: Any thoughts on Renting out the car wash and it operations?  I believe this is called a triple lease?

Ummm, Not sure why the last post was all caps? sorry.  Copy, building inspector.  thanks. 

Thanks Carol! 

I do know that current owner has not carried flood and wind insurance, since he owned the home outright. He had the capital do handle any maint. emergencies. Hurricane Irma cost the owner $50K, but still is $20K ahead over having to pay the insurance for that time period of ownership.  

Is the six point inspection completed by a Building Inspector?