All Forum Posts by: Chad Eatinger

Agree with Marcy, it is VERY difficult to find a duplex that cheap when rents can easily reach that high for even a 2-1 unit. You’d have more luck looking in the East Bay but the desirability of the neighborhood declines quite a bit.

Hey David, Just attended your BRRRR meetup tonight and loved it. Thanks a ton for putting it on, it was well worth the drive from SF. Coincidentally your latest podcast popped on during my drive home and I’m now doubly looking forward to picking up your book on out of state investing. Cheers and thanks for the great presentation. Please add me to your list for any future meet ups, particularly on out of state investing! Chad Eatinger

Bump! I figured everyone would jump at the opportunity to try and figure out an abstract approach to making a deal work!?

I am looking at an off market deal in downtown Napa, CA for a double-wide lot that has 2 buildings and 3 units on it. The seller is a friend of a coworker who is looking to sell the property (it is 50-50 owned with a partner of his) and would prefer to do it unlisted to avoid commissions and such.

The problem I have is that I am not sure how to estimate the ARV of a non-standard property? 

The main house has been converted so that the upstairs is an 800sf 2-1, and the downstairs is a 900sf 2-2. A second building in the back is a 650sf 1-1. None of these units are currently rentable but I get a sense that once rehabbed the gross income on all 3 units could be close to 10K/month. The options I'm thinking are:

1) Renovate all 3 units and renting them out, hoping that I can run a BRRRR on the property and hold it or fix it, rent it out, and flip it.

2) Convert the 2 units (2-2, and 2-1) back into a single family residence, and renovate the 2nd back unit to get it rented. Not sure how to value this, but was thinking to use adjusted comps on the main house, and perhaps estimate a gross rent * area avg cap rate to add on a value to the back unit? How would you typically handle something like this?

The area seems to be very nice and updated (neighboring houses are running for approximately 900K-$1M for 3-2, fairly well renovated. It's also only a 10 minute or so walk to a very cute downtown napa, and is nestled in the heart of a small bed and breakfast area. The potential for a great deal is there, I'm just not exactly sure how to get to a good ARV in this instance? Any thoughts from the BP family? Thanks in advance!

My name is Chad Eatinger and I'm a California licensed CPA (currently inactive). I work as a Finance Manager at a Travel Tech company, but I am very interested in doing some Real Estate-related accounting/bookkeeping work on the side/weekends to get more experience and to save some extra money to do some investing of my own. 

I can provide:

-Bookkeeping

-Financial Statement Prep

-Accounting System setup

-Budgeting, Cash Flow Forecasting, Financial Modelling, and creation of depreciation schedules

If you're interested in hearing more about what help and services I can provide, please feel free to respond here, call my mobile at (408) 802-6094, or email me at [email protected].

Looking forward to working with my fellow BPers!

Hi BP family!

I've spent the last couple weeks reading and listening and reading some more, trying to get my real estate chops up to snuff. The past week I've started looking at different properties in different places, and trying to start analyzing deals to get practice with it. 

During this process I came across what seems to be (potentially) a great deal on a house going up for auction this coming week. I was wondering, what are some ways of handling the financing issues surrounding a foreclosure auction (i.e. needing the cash up front to bid when I definitely don't have it ready, on hand). Additionally, if I were able to find a way to round up the funds, what are some specific steps I should take and specific things to look out for prior to making such a purchase?

The property has some pretty close and recent comps at at least $750K, if not closer to $800K, and I think with less than $100K in rehab costs it could be a great flip if I were able to get it for $500K-$550K. Does anyone here have experiences trying to pull together either hard money loans or full equity partnerships for a foreclosure?

Lots of information and lots of questions, but thanks in advance for your help everyone!

Are any of you guys planning on attending any of the local meetups in the next few weeks? I'm planning on attending the ones on the 28th and the 30th. If anyone is planning on attending we should plan on meeting up!

My name is Chad and I’m a finance manager for a tech company here in San Francisco. I’m an avid reader and like many others recently read Rich Dad Poor Dad and now I’m hooked on the idea of financial independence through real estate (and my other passion of value investing... see the pattern here?). I’m still trying to figure out what my niche and area should be but I’ve been intrigued by the idea of starting with wholesaling multi family properties and moving to BRRRR once I have enough funds built up to fund a couple acquisitions and rehabs. Anyone in the area willing to take on a smart, hard-working, willing apprentice to learn the ropes?

Hey Johnson, I currently live in San Francisco and am brand new here myself (getting ready to post my own intro and saw your post first). From what I’ve seen (and listened to) so far, you’ve come to the right place! Since were both in the same situation and the same locale, why not work on figuring this out together? I also loved in Fremont for a few years so I’m not entirely unfamiliar with the area... Welcome and looking forward to figuring this out!