All Forum Posts by: Zambricki Li

I use "furnished finder" for travel nurses and have a basement unit in asheville on the site that does very well. Nurses are never there just needs to be dark and quiet so they can sleep.

I love the mid term rental it's a nice balance between LTR and STR. Your furnishings so you can easily host fam if needed and you get it back in 3 months.

As for access to panel--non issue just put it in your lease that you retain access to it when needed.

It's very easy to let it slip and not inspect. I self manage and inspect usually when i'm at the property for other things. @Nathan Gesner I like attaching it to seasons that's a nice way to do it. Swap the batteries on the smoke detector and have a look.

Depends on the goal. If its a flip it's kitchen and bath and floors+ landscaping. Buy and hold I'll try and get the life out of the roof and HVAC until mycashflow stabilizes. If it's a long term rental I may just do a cosmetic facelift on the kitchen and bath. If it's a short term rental/buy and hold I'lll still do the new kitchen bath and floors brand new like a flip. 

Most renter's don't think about the roof so if it's not failing I'll leave it alone.

I have 2 tiers of contractors. 

Tier 1: Full service small deposit no more than 15-20%.  They buy and upcharge for all materials. They charge for any changes to the plan. They have a yelp. Shirts with logos on them that all match.

Tier 2: Contractor who uses his vendors and relationships and I pay direct. This saves a lot of money though is stressful because you have to front out the money for the project. 70% of most projects is materials so it really is risky. These guys are slower, sourcing material takes time and they are less organized in general.

EST Price per square foot diff Tier 1 $400 a square foot vs. Tier 2 $175 a square foot for new construction.

One thing i've found is either way they bring in subs and it can be an imperfect situation. With recent inflation I am currently buying and holding materials for projects in the next 6 months. For example i'm doing a roof on one property + a ground up new construction right now. I bought all sheet metal 1 month ago it was $74 a sheet and now its $98 a sheet. I have 150 sheets. So buying before and holding the material worked in my favour. I did the same thing for structural plywood drywall which have also recently gone up.

I'm not a contractor, just an investor adapting to inflation. Good luck with your project.

No way to get around credit check. I echo the DSCR suggestion.

 Def explore seller finance if they are trying to save on tax and not doing a 1031 exchange. Talk to an attorney before pitching it to them so you don't scare them off with terms changing later.  GOOD LUCK!

If you are buying down the rate this squares. That's why I go over these costs with clients before shopping because it can be quite a shock at the closing table. I've actually scared off a few newbies showing them all  these costs prior to shopping. I pull the numbers from Chicago Title so I can get really close to what it will be at the closing table. Some agents don't say a word until closing so they can keep it all rolling.  You can shop escrows, I do it for my sellers and have saved them some $ though much of this is fixed cost.

Airdna/Comps pulled from your own research. Short Term Shop has a great free calculator on their website and it's very good. Has everything you need right there in the calc.

I see this on props. Usually on all cash offers on props that will not be eligible for financing, or probate.

You have to walk it with your contractor before offer and make the call. It's cutthroat. Unless you get in contract on a friday and inspect it that weekend before earnest money on Monday you will need to walk it with a contractor and take the risk or choose another prop.

You often can do this classified as a junior attached ADU. I've done it.

Easier still...pop in a kitchenette add a door/wall and call it a mother-in-law-suite.   You are not officially changing the zoning you are using your current zoning in an expanded way. It's more of an improvement to a single family home.

I've done both iterations many times DM me I could share my layout strategy. Does not work with every layout. Yes, can work for STR you are only renting a portion.