All Forum Posts by: Frankie Woods

Welcome to BP @David Rice !

@Karen Margrave , I don't have any personal experience in rental homes either.  However, I think that places with high appreciation plays are generally locations that people like to visit (e.g., FL, CO, CA).  As @Mehran K. mentioned, sites like Airbnb are making the vacation home business much more viable and accessible.  Several of my friends and I are actually trying to use this method in D.C, and I would like to try and do a play in the Rockies.  I think it's an excellent way to get into these markets if you can't find the perfect property which would meet all the typical BP numbers.

I agree with @Mehran K. , OC is a very tough market for investors.  You really have to bring your A game.  Perhaps a direct marketing campaign would help you find a motivated seller(s) that would put you in a deal that produced the desired returns?

Welcome to BP @Chace Mott !  @Jeff Libby hit it right on the head.  You can also get recommendations from your local REAI.  But at the end of the day, it's all about whether or not they meet YOUR criteria. 

Welcome to BP @Michael Williams !

Great topic!  I love both of these markets, but haven't done enough research to be smart in either :(.  I look forward to the continued discussion!

Great responses but my favorite is by far @James Park !  What an exactly strategy to diversify risk while potentially maximizing your gain.  I see this in my future!

I would think that the address, regardless of which one you submit, will be classified as a multifamily in the public record.  That is how it works here in St. Louis at least.  If this isn't the case for you, it would be a real pain. 

Welcome to the family @Kurt Woolley !  It looks like you have a solid plan in place, and real estate experience to boot!  I'm glad you introduced yourelf and wish you the best of luck!

I would look for FHA, USDA, NACA, or VA (for vets) financing. These require < ~3.5% down; smashing rates for ower-occupants. I believe the limit is multi-families up to 4 units.