All Forum Posts by: Alfonso Aramburo Zepeda

@Josh Bakhshi All that is needed, mostly indoor remodeling.

I was thinking on starting with painting, then jump into flooring, then counters/cabinets. Now, I'm not sure what would add more value to the property. The idea is just to remodel the minimum necessary to increase the ARV.

Getting the property for 350K and comps are 370-450K.

I’m putting offers on house that need cosmetic repair and have to prioritize what to do 1st without running out of funds.

Budgeted 10-15K.

How would you start?

@David Medina

I can absolutely relate to you as I was in a similar situation before as my full time job required me to be not only in call 24/7 but on the phone and working long hours Monday-Saturday.

It got to the point where my wife couldn’t even work as I couldn’t help her with my kid...long story short. I ended up looking/finding another job that helps me learn & start into the real estate realm.

Either you talk to your boss to work something out or you start looking for another job. I would suggest you to do the 1st one first and then if it doesn’t work take the 2nd option.

Wish you all the best luck!

Just placed an offer on a SFR that has an attached garage and in order to cashflow It has to be converted into a rental.

What steps would you take? Someone has done it already?

I know people who bought condo’s at very good prices to where they are not cash flowing but at least break-even. One of them in San Diego and the other one in Spring Valley.

They bought them for primary residence, no investors. I’m interested on hearing someone who has accomplished this systematically.

@Amanda Webb

You might want to take a look at Lake Arrowhead. I saw not too long ago better deals than in Big Bear. Closer to the 1% rule of thumb.

Unfortunately deals here are not as good as in the Midwest for traditional financing, unless you go to auctions, etc.

Being already pre-approved, actively looking at properties, analyzing deals and with big plans in mind as far as my buy & hold strategy. I'm thinking on buying 1 property a year locally. I would love to get to know people that understand Real Estate Investing & we can learn from each other.  

My knowledge on kitchen & bath remodeling is what I can offer as that's what I do for a living. Free advise given. 

Anyone who is doing this now successfully or with similar plans?

Anyone who would like to team up?

Best!

@Julio Solano I Rehabbed & bought already 2 properties in   Tijuana and am familiar with the process. Please feel free to reach me out. 

They are building/selling condos now which I would jump in into their early stage (even before they are built) to get a better deal.

If you already did please tell us how it went!

I've been analyzing deals for a couple months and the best I've found is .6% purchase-rent ratio. No one meeting the 1% rule. Someone has had any luck lately?

My strategy is buying a property, touch it up while living in it. Then slowly improve it so I can rent it after 2 years. I'm already approved by the lender, have proof of funds, have made about 7 offers and 3 have countered with a higher price that throws a .5-.6% ratio.

Any ideas as to how to improve my search and find that killer deal?

That will be much appreciated!

I've been analyzing deals for a couple months and the best I've found is .6% purchase-rent ratio. No one meeting the 1% rule. Someone has had any luck lately?

My strategy is buying a property, touch it up while living in it. Then slowly improve it so I can rent it after 2 years. I'm already approved by the lender, have proof of funds, have made about 7 offers and 3 have countered with a higher price that throws a .5-.6% ratio.

Any ideas as to how to improve my search and find that killer deal?

That would be much appreciated!