All Forum Posts by: Aaron Lawson

Hi all,

I'm an investor and I have a certain part of town that I would like to catalog for every single unit that is listed as a duplex, up to 8-12 unit apartment complex, and then start working through that list and making regular contact with the owners.

Does anyone have a tested and efficient approach for combing a specific town/zip code for potential multifamily properties to seek out ? Is this best to self perform, or is this something better sourced out to Listsource, title companies or realtors?

Much Thanks,

Aaron L

@James Piercy , This looks like a big hit, but hopefully a one-time hit.

I'm assuming that you have a buy and hold approach. What do you long term numbers look like? (Are you using the Rental Calculator in the BP Pro Tools?) How much do you have set aside each month for vacancy, repairs and capex?

Even if you get hurt on this deal, you can turn this into a win, IF you use it as an opportunity to learn the fundamentals of the business. You will remember the lessons and hard burn them into your mind. But only if you use this as a chance to study the fundamentals of investigating, negotitating, renovating, managing, , evaluating ongoing ROI, tax strategy, etc. If you instead treat this as a speculative investment instead of a tangible business like your day job, then you will be much more open to risk of being blindsided.

Good Luck!

@Tyler Powell @Ben Biggs

Downtown meeting sounds good if we can find a time. I'll send you a PM.

Thanks for the reply Oscar; I'll send you a note when we get something organized.

@Dan H. , thanks for the lead on this Dan; perhaps we can organize a larger group of the new BPers to converge at the next meetup!

I actually work in the village of La Mesa, its a great part of town!

He buys real estate to build a portfolio of income generating assets! 

Happy Friday all!

I'm seeking an investor group or REA meeting in San Diego, that is focused on networking for investment property. Has anyone reading had luck finding or starting a group here? I'm in La Mesa, so I'd like to focus on East County or Central San Diego, but I'm willing to drive if I need to. Thoughts?

I had an idea to offer a year's rental pre-paid at a storage unit, with the moving/packing included as part of the deal. I'm trying to think of an edge I could offer to help solve the tenant's problem, and speed up the deal.

@Jay Hinrichs, what was it that finally got the tenant out after 2 years? 

Good Morning All,

I'm looking for advice from people with experience on the personal side of purchasing a hoarder house for renovation and resale. Has anyone had any luck moving forward with an owner who lives in and owns their distressed property? I want to help people solve a problem they have if I can, while still running an effective investment business. 

I have two properties that I am looking at, one is lived in by the owner; the house is full to the point that she moved out to a second house, and still makes mortgage payments on the first house, which does nothing for her except house her belongings. The second property is lived in by an adult offspring of the property owner, who has collected garbage and debris for 20 years and displayed it all over their yard.

The biggest problem for either property is the occupant's compulsive problem with their belongings, which is deeply personal and complicated. Has anyone had luck engaging with these types of individuals to help solve their problem and make a purchase, or is it more common to pickup a hoarder house only after the owner has passed away or had the property condemned?

Any thoughts, or horror stories?