All Forum Posts by: Adam Ng

I'm actively seeking a small multi-unit property investment (up to a 4-plex, will consider duplexes and triplexes as well) in Southern California. Open to properties located in LA, Inland Empire, San Bernardino County, etc.

Looking to buy and hold, so it needs to cash flow as rentals.

OK. I'm new here, and I'm ready to drop some money. I can't for the life of me figure out why this property with a 13.46% CAP RATE (which is impressive for California) has been on the market for 174+ days but from my POV it brings in some $$$$.

I noticed it says "Please do not disturb tenants, they do not know it is for sale" - so I imagine the property hasn't been inspected.

Why's this on the market still? Any ideas?

https://www.redfin.com/CA/Palm-Springs/3775-El-Dor...

My analysis has come to:

CAP RATE: 13.46%

Purchase Price: $270,000

Down Payment: $67,500 (25%)

Monthly Mortgage: $1247.63

Monthly Gross Rent Income: $3000.00

Monthly Net Income (excludes mortgage): $2916.67

Cash Flow after mortgage: $1669.04/month

Cash on Cash Return: 29.67%

Numbers look great, so what's the catch?

Anyone?

Looking for some feedback from current owners of multi-tenant properties in the Palm Springs / Palm Desert area.

I know I am being brief here, but just looking for a general idea. Does anyone have any problems with vacancies with their properties in this area?

 Did Victorville end up working nicely for you?

2015 Ford Mustang GT Premium. :)

Education is important, but where it comes from is irrelevant.

A college degree does not guarantee a job either. And if you are lucky enough to find a decently paying job, you will have a mountain of debt to pay off from student loans, so why not use that time/money/resources to teach yourself and push yourself in the industry you want to be in.

College or school in general has never been for me. The moment I graduated high school, I had multiple high-paying offers from companies in the industry who wanted to hire me, because I have been in that industry since 11 and have owned multiple businesses in that particular industry (and no, that industry is not anything related with Real Estate, RE investing is a new venture I'm currently just getting started with).

 I'm in Los Angeles, which isn't too far from Riverside. I'm potentially looking to invest in a property near your area as well ;)

Also, I would not suggest moving out of this wonderful state, you can always invest in properties out-of-state with the help of property management companies. Also, I'm working on my first investment property (multi-unit) and just got pre-approved for the loan I was after. I'm 99% set on doing it in California and then in the future expand to invest in properties out-of-state , as I have found some great deals in the Inland Empire.

I am 18 as well, would love to stay in touch and connect.