All Forum Posts by: Anton Ivanov

@Frank Casi

This isn't really a directly answer to your question, but I would highly encourage you to double-check all of the numbers/calculations yourself and not base any decisions based on what you see posted on others' websites. Not saying they will lie to you, but everyone does their calculations slightly differently and may not be using the safety margins that you are comfortable with.

@Jake Thompson Welcome to BP!

I served 6 years in the Navy and my fiancee is currently stationed at the 32nd St base. Glad to see more military members using the site!

I own 3 rentals in San Diego and would be happy to share my contacts with you. I don't own commercial property myself, but have friends who do, so I can help you get in touch with commercial lenders/realtors/PMs as well.

@Victor Stewart Welcome! I live in San Diego myself, so if you ever want to get together for lunch or have any questions about the local market, feel free to reach out.

@April Cossey

I don't live or invest in your area, but nevertheless wish you good luck! Getting the basic knowledge is definitely important, but just remember that at some point you will need to take action. I learned more from my first deal than from all of the books/articles/forums I have read leading up to it.

@Craig Cunningham

I agree with Robert - figuring out what you want/need is the first step in getting somewhere. There is a wealth of information on BP, so reading some of the starter guides would be a great place to start.

@Dan Liptak

Welcome to BP and good luck!

@Michael Conway

Great to meet you! I live in Lemon Grove and work downtown San Diego. If you ever want to meet up or have any questions about the local market, shoot me a note.

@Reginald Dave

Using the additional numbers you posted, I don't see how you can get the returns in your original post. Here is the math (I could be wrong on the expenses, as I didn't know what you counted in them and what you didn't):

Purchase:

Purchase Price: $82,680

Down: $16,536 (20%)

Cash Needed to Close: $24,016 (down payment + $5k rehab + 3% closing costs)

Operation (Monthly):

Gross Rent: $1,350

Vacancy: $135 (10%)

Oper. Income: $1,215

Oper. Expenses: $675 (you said $700, I used 50% of Gross Rent to simplify)

NOI: $540

Mortgage: $355

Cash Flow: $185 ($2,219/year)

Returns:

Cap: 7.8%

COC: 9.2%

1 Year ROI: -18.2%

Rent to Value: 1.6%

GRM: 5.1

Not a terrible deal, but doesn't match the returns you think you will be getting. Feel free to correct me, though!

@Matt Scott

Sounds like a great start, although I may reconsider living in your first investment property. Think of yourself as a tenant paying rent (even though you own the house). If you can live somewhere else for cheaper, it makes more sense to rent the property out to a real tenant and rent yourself.

Other than that, sounds like you are on the right track. Good luck!

@Cara Campos 

Welcome to BP! Sounds like you are on the right track as far as the knowledge goes, just don't get stuck in the "preparation" phase like some do...

What type of real estate investing are you interested in doing? Flips?