All Forum Posts by: Shervin Golgiri

You should asses the moisture level, there are devises for that. Most house inspectors are equipped with that. 

Ventilation in attic plays a big role. Find a reputable house inspector and he should be able to find the cause. Best of luck.

Hi Ally, at what rate you're going to borrow money against your house equity.  

And it really depends on where you want to participate and invest. Cashflow varries significantly from state to state. Look into Midwest, it allows lower entry point and better cash flow.

 You want to collect at least 2%-3% more than the rate you're borrowing money. Considering there will be a  property management fee.

Once you own enough equity in your investment property it will allows you to keep more of your money. The whole idea behind this is to pay minimum interest and keep more of your cashflow.

Nothing wrong with exploring your options, but you need to make sure numbers do add up.

 Thats great, If you share inspection report and mls number, I be happy to help you with the suggestion and recommendation.   

Might not be a bad idea to get a home inspection done. first you need to know the exact condition of house, then you run it with someone who has the  knowledge and eye to give you the right advices.

Hi Ronald, depending on what part of shelbyville the house is located. overall I would stick around with renting it for SFR, Rental market is good.

Improving the house can Increase your cash flow a little.  You shouldn't have a problem renting a 3bed/2bath in $1700-$2000 range, depending on the property exact location and condition. 

I wouldn't go through the headache of airbnb.  Place a long term tenant there and keep your peace my friend. Put your time and energy in somehwere else for more income.

With Current interest rate, would be wise to pay cash, specially if you're in a position to do so.

Rent it and once your comfortable you can move one on the 2 property. Seems like you're in a good position.

Meanwhile educate yourself about peoperty managment and tenant relation and if you could have friendly investor friendly realtor in your contact, don't hesitate. S/HE will educate you along the way and minimise things going south.

At the end of the day it's all about the Value you bring to the table.

There are many great agents out there, that worth their weight in gold and I promise you they're not the ones who willing to list a house for 2%.

a great agent can bring more traffic and more offers on table and smoth transaction. But yes I agree, it's a very tough career,  and that's why 83% of people who do become agent quit withing the first two years.

Hi Christopher, I recently moved to bay area just about a year ago. Prior to moving, Kentucky was my hometown for 20 years. I keep all my real estate Investments in Kentucky. 7% or more is the norm for single family residential while in California you most likely land around 3%-3.5% cashflow, you're not even close to cover the interest rate.

Definitely check out Midwest states, they offer low entry point and stable rental market. I would look for Real Estate markets that allow entry point in 160k-250k range, it allows you to liquid your asset if it happen to be the case in future. 

Having some clue about property management and tenant relation will definingly help your success in this field. Your best asset would a friendly real estate agent. find the right person who's willing to help you and educate you along the way. 

One last advice I can give you is that MORE is not better, choose low maintenance high demand locations and the rest will fall into place.

Hi Erik, I like where you are heading. I would avoid borrowing too much money at the beginning. Specially at this current interest rate. Look for markets that allow low entry point and stable rental market demand. I moved from Kentucky to California about a year ago so I can tell you Cash flow varies significantly from state to state, city to city and even street by street. 

In Kentucky 7%+ cashflow is the norm, while in California 3%-4% where most people land. In Kentucky you could buy a townhouse for 150k-160k and expect $1400-$1550 cashflow. You should focus on paying it off and keep in mind the more equity you gain the more of cash you get to keep. Best of luck and remember Real Estate is a way of life, Cheers.

from personal experience You're better off to set boundaries with your tenants. Keep conversation formal and in writing as much as you can. Train them the proper time to reach you 9-5pm and in case of emergency Dial 911 before calling you. Hope all goes well