All Forum Posts by: Alex Hill
Alex Hill has started 4 posts and replied 8 times.
Post: Commercial Property Manager-Orange County, CA

- Posts 8
- Votes 3
Hello. My grandfather owns a unique piece of property in the heart of Orange County. Right off of the 5 Freeway in Tustin, CA. It has a large commercial building (estimated 5-10k square feet) on it as well as a 10 unit apartment building.He used to use the building for a business he ran but has been leasing it out for the past 30 years as well as the 10 units on the same parcel. Has self managed for many years but is 91 now and is looking to hire a property manager with experience in this area. I can PM some concerns and issues we have run up against recently in order to bring a prospective manager up to speed. Any recommendations would be helpful.
Post: [Calc Review] My First Multi Family Deal

- Posts 8
- Votes 3
Hi Peter. The loan I am using is a conventional loan with rehab costs added to loan balance. Actual price of purchase is 165k with 15k of rehab included in loan. I just input it this way to make the calculator work for me. It is out of state but in an area we know very well. Its 4 hours away so we could possibly self manage but as I have heard from many wiser than me if you want to scale you need to delegate so I for sure will keep the property management in my numbers.
Post: [Calc Review] My First Multi Family Deal

- Posts 8
- Votes 3
*This link comes directly from our calculators, based on information input by the member who posted.
Post: Looking for a leasing/showing agent in Bullhead City / Ft Mohave

- Posts 8
- Votes 3
Hi Jean. Bumping an old thread here but I am looking at a 4 Plex in the area and wanted to get a feel for how you have fared over the years in Bullhead City? Also wanted to pick your brain about the property management company you were using. Were you not happy or you just wanted to self manage?
Post: New Investor Looking at Springfield and Kansas City Markets

- Posts 8
- Votes 3
Hi All. So after trying several ideas in my home state of California none of which will pencil out we are going to start purchasing smaller multi family property in areas of Missouri. I have a family member who invests in several areas in MO and he has done fairly well. We also have quite a bit of family living in the Springfield area (Nixa, Seymour, and Springfield proper) and while we will be looking for a property management company we could lean on family for cursory drive by's, etc. Our primary focus is on creating cash flow for the long term and I am looking at many smaller multifamily properties that the numbers look great on. Lots of turn key deals in the 125k to 200k range. Sometimes things aren't always as they seem though. I wanted to reach out to see if anyone has a recommendation for an awesome property management company in the Springfield area as well as the Kansas city area. Also, looking to connect with a local investor (specifically Springfield) who I could ask a bit about any local challenges and any areas to steer clear from. Our plan is to pick up 1-2 small multi family properties a year for the next few years until we get to 10-12 doors and then save up and invest in a larger multi family project.
Post: Owner Occupied 4 Plex-New Construction

- Posts 8
- Votes 3
We are late to the party as far as real estate investing goes. We have three kids and we won't move out of the school district until they are done with school. We own a home here with equity and can keep it rented and basically break even or cashflow $100-$200 per month. We have the option to keep it and ride the appreciation wave a bit more or sell it outright and take the equity we have and invest it elsewhere. Was just looking at an outside the box way to house hack while staying in my current area. A more promising approach might be to purchase another house and build a rentable ADU. Menifee has a streamlined process for ADU's.
Post: Owner Occupied 4 Plex-New Construction

- Posts 8
- Votes 3
Thanks for the input Sam. I have been using the $150 per square foot as a rough number as well. I have a meeting with planning later this week to better determine soft costs but the numbers are already looking too tight.
Post: Owner Occupied 4 Plex-New Construction

- Posts 8
- Votes 3
Hi All. Looking for some direction and recommendations in my area. Looking to build a 3 or 4 unit multi-family project in Menifee, CA in Riverside County. I am planning on occupying one of the units. FHA Loan Limits in my area are $829,350.00 for 4 units and $629,350 for 3 units. I have contacted planning at the city and most of the upcoming zoning changes would allow this type of structure in residential zones. There are areas under the current plan where multi family is allowed as well. I would be required to submit a plot/site plan as well as have a public hearing. The public hearing might not be required for only 4 units so I will need to check on the details. I am looking for recommendations on an architect and engineer to assist with design, permitting, site plan, etc. Also looking for a lender who has done FHA One Time Close Loans as well as a contractor who has worked with these disbursement schedules and is okay with the paperwork. Also, looking for everybody to poke holes in this idea. Seems like the numbers pencil out that even in the worst case scenario I would be living there for free or close to free and would cash flow once I move on and rent out the unit I will be living in. Not sure how to research the soft costs associated with multi family. Land costs will be around $125k. So not sure if it's possible to make it happen in land, design costs, hard and soft construction for 4 units at the $830k mark. Any input would be appreciated.