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All Forum Posts by: Andrew Cook

Andrew Cook has started 8 posts and replied 17 times.

Post: VA Home Loan Officer in SoCal

Andrew CookPosted
  • Mission Viejo, CA
  • Posts 17
  • Votes 4

I am looking for a very knowledgable and credible VA Home Loan Officer in the Southern California area. If anyone has worked with or has a recommendation please let me know it would be greatly appreciated.

Post: Location Location Location

Andrew CookPosted
  • Mission Viejo, CA
  • Posts 17
  • Votes 4

@Ryan McKenzie unfortunately the seller on the 12 unit property rejected my offers so had to pass up on this property for the time being.  I have kept an eye on it and is still on the market and the prices keep dropping, so I will continue to pursue the deal until I can get it at a price that makes sense. 

I have been looking for other investors in my area and would love to network with you and your wife.  I will reach out in a DM to exchange some contact info!

Josh Caldwell thank you for your input I was looking mainly at the cash flow aspect of the deal you have given me some things to consider. Thomas S. As is right now gross rental income is 3178.00 with 2222.40 in expenses cash flowing at 955.60 if I were to put rents to market value after improvements 3640.00 gross 1417.60 net per month which would be a 12.4% COC ROI after improvements were completed
Josh Caldwell the numbers right now don’t excite me that much either as of right now (like to see $200 per door), but the main reason I’m looking into the deal is that the rents are below market for the area. I can add 150 to the 2 bed units and 75 to the one bed units, the property is only listed for 240K and will still cash flow while one or two units are vacant for improvements. Thoughts?

I am looking at a 6 unit apartment complex striking out with having a real estate agent helping me I began to dig into the property myself seeing if I could get a contact name or number.  With some research I found the seller of the property has had some run-ins with the law buying stolen goods to sell for a high profit. Doing my due diligence and speaking with property managers the property could have a cash flow of 955.00 a month.  Skeptical on what the seller might be hiding or if it is someone I want to be associated doing business with.  What are your thoughts BP?

Post: Finding a Real Estate Agent Long Distance

Andrew CookPosted
  • Mission Viejo, CA
  • Posts 17
  • Votes 4
@Kyle Godbout that sounds great definitely DM me and we can exchange contact information to see if we can get the ball rolling with this!

Post: Finding a Real Estate Agent Long Distance

Andrew CookPosted
  • Mission Viejo, CA
  • Posts 17
  • Votes 4

@John Warren I am currently looking in Nebraska since I am originally from there and know the market pretty well.  I am definitely open to seeing what Chicago has to offer I lived there for 4 years during college.

@Daniel Hyman all areas I am focused on are in the Midwest, mainly Nebraska and Iowa just because I am familiar with those markets.

Post: Finding a Real Estate Agent Long Distance

Andrew CookPosted
  • Mission Viejo, CA
  • Posts 17
  • Votes 4

Hello BP!! One piece of the pie I didn't think was going to an issue when starting to invest out of state was finding a real estate agent! I have emailed over 30 individuals in the Midwest market that I am looking in with out a single reply in over a week.  What I put into my email is introducing myself as a real estate investor my criteria, how many units I am wanting to buy over the next year, and asking if they have preferred lenders or property managers that I can also get in touch with.  That is it, pretty short and sweet, but still no success.  Being out of state I am trying to find that someone on the ground to help me.  Any advice or thoughts you have on the matter would be great! Thanks in advance!

@Eric G.

I am looking in the Midwest region this particular one is in Nebraska.

Thanks everyone for the advice and suggestions! It definitely helped clear up the decision process. @Peter Bowen if you don’t mind me asking on your 22 unit are you utilizing a property management company and if so do you have any advice on picking the right one?