All Forum Posts by: David Mamsa

I see the same up here in northern cal. I am currently rehabbing 2 homes for a flip but there is nothing in the pipeline for me since the "all cash foreign" buyer is overbidding for homes. Asking rent has gone up but even with the higher rents I am not sure how they are calculating their cash flow. I stopped buying rental properties in June of last year and cant justify the current numbers for rentals. Most of my rentals are in central valley area.

Tracy like many central Cali markets is on fire :). My ideal place to live is San Diego, hopefully one of these days I can make the transition.

Thank you Jake.

Hello Members,

Does anyone have any positive or negative experiences to share on lone oak funding out of southern California

Agree with Minh L. I bought 5 properties last year with a CAP rate of around 4-9 percent. The lower cap rates are an appreciation play for me and so far on paper they are looking good.

I am a small time rehabber in the central valley area and I do agree that deals are drying up for a quick and easy flip/rehabbers. Up until late last year I was flipping homes with min work (new coat of paint, deep cleaning and not much). Most of the rehabbers I know were doing the same and the game kinda changed and now the properties require extensive rehab which drove a lot of flippers away. I currently have two rehabs-one buy and hold condo and one flip. The condo required complete kitchen and flooring along with some fixtures and the single family homes requires complete interior. The margins are great on these "not so turn key" homes so is the risk. I still cant rationalize the numbers when it comes to new const. In my area and with my limited knowledge I cant say new const will have better returns.

no it was a regular sale, never hit mls.

This is in sunset area of Livermore...

Ok this may take a bit of work but ARV looks good.

Contract Price: $354. Should close in late March
Estimated repair: $30-40K (Kitchen, two baths, paint, flooring and minor roof repair)- I have a cushion of around $10K
Rehab time: 2-3 months
ARV $490-510.

4/2 1600 sq ft in Livermore, CA . Hopefully the market stays hot into spring and summer.

This will be my first pre-2000 built flip so it will be a good learning for me as I am trying to expand. With a full time job this will be interesting.

I would say leave it. IMO a model tenant like this should be worth something.

Michael, Nice find. Hard work always pays off.