All Forum Posts by: Aaron C.

No worries, that is why I'm asking. The information I received was from a book. Thanks!

Hi everyone, I had a question about property management companies. I read somewhere that with property management companies you want to make sure that your a signer on the bank account. A few companies I have talked to said they don't do that (they are a large property management company).  It makes sense to me to be on the account in case anything goes wrong.

What are your thoughts?

Yeah I would just make sure your expense's  are in line and bump up the vacancy to be safe. But that would be good cashflow off a 4 plex! 

Michael have you thought about apartment complexes? It's a whole different ball game then houses. When it comes to buying an apt complex 5 doors and up they look how the building performs and not so much on your income debit/income ratio etc...If you can find a good apt complex that you can re-position, it would be a nice little pay day.

Good for you Samuel! I would say do it again and create a rental out of that one. I believe you can do a 1031 exchange so you don't get hit on the taxes. But double check with an accountant.

There are a lot of different strategy's you can do, but it comes down to what you really want to do. Good luck and keep it going!

Albert, there is a lot a growth in the IE right now. Commercial Development is booming in this area. Retail centers are popping all over here. People are commuting from the IE to LA, OC, SD. Houses are over priced because no inventory...

I have been looking at a lot of Multi-Family Units and from what I'm seeing there are bunch that are way over priced! The rents are not supporting what the owners are asking for. Anyone else seeing the same thing?

Hello everyone, well I have been wanting to get into real estate investing for a while. I'm looking at this  multi-family property and I just want to get people's opinion  on this deal. So option 1 is the current rent and option 2 is what I could raise the rent to, but it will be a little higher then my competition (so maybe I need to reduce it a little bit to be conservative). They are asking $595,000 for it, It does need some repairs. But when I run the numbers and if I'm reading the spread sheet correctly, based on the Rent Income and Expenses I should be offering around $450,000 to $480,000? But, what I would like to do is offer below the $400,000 so down the road I could refinance and recoup my down payment. I pulled information on this property and it recently sold in 2014-2015 for $194,000!! There are 4 tenants that have been there for more than 2 years, 1 moved in early this year and 2 new recent tenants less then a month.

On the expenses Property Management Fees, I just lumped their total expenses in that category that consist of Water, Trash, Gardner, insurance, etc...

Repairs and Maintenance is what they spent from 2016 to 2017 currently

Then the real estate taxes

So what does everyone think about this deal? What I'm missing? I think it's way over valued...What would someone offer? Place was built in 1970

Thanks and excuse the typo's in the spread sheet and this thread.