All Forum Posts by: Josiah Rich

Are there any wholesalers in the Sonoma County, California area?  If so, I would like to get the contact information. Thanks

Thank you for your posts.  Yes, I have owned real estate in the past.  I had my personal residence, and two investment properties. That all dried up in '08 and my equity disappeared over night.  Today, have credit scores above the 700 level.  As for salary I will net about 72k.   The information and insight that you have given is valuable.  I have learned to walk away if a potential deal does not work for me.   

Respectfully, 

Dear Joel,

I do not have personal money to invest at this time.  The property that  I am interested in purchasing is located in Vallejo, California.  It has 26 units and 100% occupancy.  It is 15,175 s.f., and it is a four story high rise.  The reported cap rate is 6.10 %.  The asking price is $1,888,888.    The scheduled gross income is $235,380, the effective gross income is $220,956, the operating expenses are $105,356, and the net operating income is $115,6000. I am not certain about how to complete appropriate due diligence, nor how to find a private investor for a loan, and the other particulars involved in putting an offer/ deal together.  Thank you for your pertinent questions Joel.  I would appreciate any guidance you could offer.

Respectfully,

I would like to either have a coach or mentor to guide me through my first apartment deal. I have read the Bigger Pockets beginning real estate guide several times,and I have done research on financing and leaned the investment terms,but would feel more confident if someone could show me how to structure a deal soundly that will cash flow in an appropriate manner.  

Thank you. What would suggest as a productive and prudent method for purchasing a first multi-unit property?

I would like to know how to use an FHA loan to buy a multi-unit property and how to get the 20% down payment for a property of about $599,999.00?

Thank You,