All Forum Posts by: Calvin Liang

I started to invest in multi-family out of state about 2 years ago. Currently owns three properties(two deals) with partners and other investors. 

I am also a full-time software engineer and love building software. So I started to put something together on a website last year, just to make communicating with investors easier(showing investment performance, documents, etc). I know there is similar software out there (Appfolio, IMS ...), so I always trying to figure out if building something similar is worth my time, and our biggest pain point currently is capital, not technology.

So I am wondering for those of you, the more advanced sponsor/investors out there. What do you think is missing on the technology side? Is there something you wish technology handles better(integration with payment, work automation, etc)?

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Here's the investor portal that went public to our investors recently. (SF001 is not real)

@Frank Wong Thank you! 

I went to see the property yesterday and talked to a local PM, market rent is close to what I estimated. I am asking if the owner can lower the price and do interest only for one or two years. 

Do you know how long would people do interest-only payment in general(I am assuming it is up to how we negotiation)? PM said it will take 60 days to move current tenants out with notice, I think one year of interest-only payment will allow us to catch up on the rent. 

It feels like a flip but I am also trying to figure out if buy&hold is possible with seller financing.

@Account Closed I am going to see the building next week, don't have all the numbers yet. The numbers I use are not 100% correct but I am trying to get a sense of how it would look like before going. 

The owner is 90 years old and got the building very cheap. zip code is 94080 so it is south san francisco.

Putting those terrible number aside, I do want to understand how ppl play this game in the bay area. 

I got my first building at Buffalo NY(cap rate is 10%) last year because I don't get how those numbers make sense in the bay area. 

I updated the expenses to include taxes, assuming it's 3000/month.

Current Rent:

MarketRent

@Account Closed Yes, I was just talking to my friend about the property tax. $1525 is current expenses, I need to update that.

Hi, I am working on my second deal, first one in the bay area. Would like to get some feedback/advises.

Here's the number:

Number of Units: 8

Purchase Price: 3M

Total Income: $10,788/month

Total Monthly Expenses: $1525/month

NOI: 9263/month

Seller Financing: Seller would carry 60%@4.5%, maybe 70% for 5 years with a prepayment penalty.

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3M is definitely too expensive for that income. Current average rent per door is $1349. Base on my research, market price should be $2200 - $2500. 

It looks like a value property, but given that everything is over price in the bay area, I don't know if it makes sense to invest here and if it is, how should I make this work.

Would you interested in a deal like this? What would be your exit strategy?

My cousin owns a property in San Leandro, CA. The lot is about 5000 sq ft and there is a SFH on it (occupies about 1000 sq ft).

He wants to extend the SFH to 5000 sq ft total (about 10 rooms) and turn it into assisted housing. He had dealt with assisted housing before. The rough number he estimates is:
* Construction cost: $350k - $400k

* Total sq ft: 5000

* Monthly Rent: $8k/month

What do you think about these numbers or this idea? We haven't done any construction work, so any input would be appreciated.

My cousin owns a property in San Leandro, CA. The lot is about 5000 sq ft and there is a SFH on it (occupies about 1000 sq ft).

He wants to extend the SFH to 5000 sq ft total (about 10 rooms) and turn it into assisted housing. He had dealt with assisted housing before. The rough number he estimates is:
* Construction cost: $350k - $400k

* Total sq ft: 5000

* Monthly Rent: $8k/month

What do you think about these numbers or this idea? We haven't done any construction work, so any input would be appreciated. 

@Michael Wang Would like to hear your update on your experience with those different syndicators in the future.