All Forum Posts by: Alex Rodriguez

@Gurmanpreet Singh Im also here in Sacramento and found the same issue. We are in an expensive market and I also questioned buying out of state. I even drove cross county out to Ohio, Missouri, Indiana, etc. Basically all the markets everyone on here mentions daily. What I found is you will have to vett every single thing someone tells you and the places to invest in. For example Everyone talks about Cleveland being a great place to invest which, It is. However, If you choose the wrong location or dont know about the location you will be in deep trouble. I decided to do exactly what you want to do and that is to house hack here in sacramento. Ive been living with roommates with monthly expenses down to 600-700 a month with every single bill i have. Everything else is saving towards real estate down payment. This last december I bought a "primary" (brother  and GF is roommate ;) residence out of sacramento with  5% down and paid 148k and Im now in contract on a 4plex and will be moving into that and cashflow 600 initially and 1600 after increasing to market rents. Keep learning and analyze deals and be patient, It will take some time, but most importantly dont get analysis paralysis and pull the trigger if you are able to. If you would like to ask questions or connect, Im happy to help. 

Sent you a PM

@Reinaldo Giudici, this property was on the market and it had expired to i reached out to the seller with a letter offering to buy if she was still interested. There are many ways to go about finding properties. Whether it be marketing on your own, pocket listings from an agent, or driving for dollars just do it and make offers.  

@Reinaldo Giudici Finding deals in the lower price range is difficult to find here in CA and are  even more difficult especially in the Sacramento region. However, it is not impossible to find. As @Jay Hinrichs mentioned to have to look out a bit. I grew up in colusa county and know the region very well. Im in contract for a property at 135k, rents are around 1250, so its close to the 1% (hard to find here as everyone knows). You don't have to leave CA to make an investment strategy work for you. 

Ive submitted an offer and it has been accepted 20k under asking price 555k.

There have been 2 buyers in escrow that then fell out at 575k. Finally the seller agreed to lower the price and has accepted my offer at 555k now in escrow . The sellers agent has included the previous potential buyers inspection reports (Roof, pest, and entire property) This is my first time making a purchase and am extremely hesitant to pull the trigger based on what im seeing in the report now. For those of you with experience what are the reg flags on high cost items? 

What is worrying me the most is the leak in unit 3 going down to the garage and also how the interior is painted and cant be determined if its had a leak in the past. What are your thoughts? My realtor is saying the leak doesn't seem to be a big deal but Im not buying it it along with all the other expenses i will have to put into it overtime. 

Below is the google drive link to the report

https://drive.google.com/file/...

As others have said, Cleveland, Indianapolis, and Detroit are gaining alot of popularity. However, be very very wary and do extensive research on the areas you plan to look at. I am on my way back actually from visiting these cities and took a look at many properties that were on the market place here on BP and also connections i've made. Lots of the properties were in areas I would never invest in and they were being presented on paper as C-(In general better) neighborhoods when in fact to me more of a D-, vacant homes everywhere, drug dealers, etc . I thought Stockton California was bad and i'm used to ghetto areas. With that being said I did see many areas that offered potential and still made financial sense. Have a good reliable team and take some time to either go to the areas and see what you are comfortable with.

sacwholesales

one of the bigger ones in sac.

@David Hutson The meeting is held inside. There should be enough room. @Pavan Sandhu that is correct it is every other Monday.

I looked at an off market 4plex this weekend that the owner just wanted to get rid of it had a partial fire in one unit. because of that, the city made him gut it and he dumped 40k just for the asbestos removal. As soon as he did that. He was out and didnt want anything to do with it. It is pricy business dealing with the removal. As you said they charge stupid money, but it's due to the hazmat fee's they are paying as well.

Hi, @Jeremey McClain there will be a REI meeting today and are welcome to attend. There are several wholesellers there and other like minded individuals. Let me know if you'd like the information.