All Forum Posts by: Kris Zabish

Hey Josh! Sending you a pm. Let get together for coffee!

@David Noh

Haha yes sir! But that’s where the money can be made. Find the things other people are unwilling to do. We will see if I can get it to work 

@David Noh

Hey David! Not exactly. The types of building in my market I’m looking for is mixed use buildings. So all I’m really doing is making them more residential the commercial. The zoning requires I still have 30% of the sq ft commercial but in my current deal I’m working on it means I can grow the residential an extra 20%. Does that make sense?

@Nick Clurman this would be my first deal. Took forever to hear back from the county on how I could use the space. I'm sure there will be much more learning as this deal proceeds. Currently I'm building the offer with my lender as a FHA 203k loan. There is a few tricky rules so its a little more time consuming but if I am able to make this deal work then I have found a niche that I will be able to dominate in my market.

Yes this would be a buy and hold. Biggest reason being it will be a cash flow monster once its stable. I'm actually writing a log for the process that I hope to send to BP for a book. I call it "From Zero to 1 - Breaking the code to unlock your first deal"  I know, way too much info but like BP says, tell everyone what your doing cause you never know who would want to be apart of it.   :)

I have definitely seen the same thing. I'm learning about what it take to convert some of these properties into housing as affordable housing is getting harder and harder to find. Obviously it's very location specific but I'm currently working on a mixed use building that I will convert into a 4 plex. These crazy times call for creative solutions.    

Hey BP! Just listened to podcast 215 and love the idea of mini condos.

I was wondering if there is anyone with experience with rezoning in California as I would like to take single family homes and convert them into multi family or convert small multi family into bigger complexes.

Thoughts and anyone with experience please comment!

Thanks!

Thanks guys! Very helpful

Thanks @Michael Plaks! Might I ask why buying rentals as a tax strategy is wrong? I hear the podcast state that Depreciation is a builder of wealth, am I misunderstanding what they mean?

Hey BP! I work for my brother who owns a rental company for heavy equipment in Sacramento. We are getting killed with taxes and fees for the equipment we own.

Is there a way to use real estate for some tax relief? If there is a way then I would be able to start a new division in the company and do what I love. Thoughts?

All I hear is never ever buy a bad deal, or non cash flowing properly.

I’m looking to house hack my first property in El Dorado County (just outside of Sacramento) but cannot find a deal that’s works in my area. I hear Brandon saying in my head “you have to make a great deal”

Here’s the biggest challenge. My family and I are just coming off food stamps. We are working hard to put away 10% of every paycheck and are barely making it. Had the water company standing at my door to turn off the water last month. My rent is $1400 and the utilities are another $300-400 month. This is the biggest hole in my bucket which is why I need to house hack as soon as possible. We’ve been trying to find a new place to rent but demand is high and supply is very low.

My question is would you buy a deal that would save you money now if you lived in the property but would not cash flow after you moved out?