All Forum Posts by: Amber Flores

@lee thanks so much!!

@ Lee, thanks for your response! Neither party has kept their lease agreement and therefore do not have copies of the original agreement. The owner is looking to unload these properties due to these tenant. I'm concerned about him implementing a new lease because the rents are already so below market the units wouldn't cash flow. If a lease isn't in place couldn't they be considered month to month and therefore subject to a different rate? 

I did the impossible and found a deal in Los Angeles. Of course it doesn't come without a reason. I know Los Angeles has some of the strictest rent increase and eviction laws, so I'm hoping someone can point me in the right direction. This is a triplex. Only 1 unit has an existing lease agreement the other 2 are expired, and the owner never created a new one. The units are poorly managed and the rents are way under market. We're talking rental prices from the early 90's. Since I can't legally raise the rent more than 3% of what it exist. I would ideally like to get these tenants out, since from what the owner says he has to beg for rent every month and they refused several thousand dollars in cash for keys. Once I have the deal done can I offer a new lease with fair market value rent or start an eviction process in order to bring rents up to fair market value?? Thanks

I am currently in the market for a small multi-family complex in Fresno or Inland Empire. I would like to spend approx. 350k with 10-15% down over 15-20 years. Please pm me with any leads.

@sarah @jose 

@Jose Jimenez thanks!

@John Chapman I totally agree. There are lots of shady people out there. We chose Texas because it was a place we once considered moving to and I've spent a lot of time researching different areas. We have chosen Fort Worth because it does not seem to be a super saturated market however, every offer I make they want full price or over. Getting a deal seems to be unlikely. I'm aware of the foundation issues, roof issues, taxes ect. But cash flow seems to be decent even with taxes and insurance. I live in SoCal and if I want to invest locally I'm looking at Victorville, San Bernardino, or Bakersfield. All of which would cost me the same for a fixer upper as it would there for a newer home and rent here is much lower. I do however, plan on taking a trip there to drive the streets and get a feel for different areas. What is your opinion on paying full price or a small amount over to get a newer home? I seem to lose all the homes I make offers on to full price or higher offers.  I appreciate all responses! 

Thanks!

Hello,

I am very new to investing and am looking to invest out of state. I'm looking at the Dallas and Houston area for single family homes. Are there any locals or investors that can recommended any zip codes or neighborhoods in B areas to invest in or any zip codes to stay away from? Thanks. 

Hello All,

I am a newbie investor who is following this topic very closely. I am working on financing for my first deal and getting very close to being able to make an offer. My concern is if we see a dip in the market this year, it won't be about the prices of rent so much as it will be about the possible deals we may see. I don't want to get in right before prices or values decrease. Many say this will be around the presidential election. Any thoughts?? 

I am a beginner in real estate and want to own rental properties. I currently have another small business which is formed as a LLC. I thought about forming a separate one for the properties I would like to purchase however, how difficult is it to obtain financing if I do that?