All Forum Posts by: Damaso Bautista

@Agustin Dionicio

The 70% rule might work in lower priced markets but I think you are dreaming if you think you will find a 70% rule home in the greater Los Angeles area.

Everyone including very experienced investors are having issues with acquisitions right now in the Los Angeles area.

I hope someone else can chime in and help you out on this. 

Good luck!

@Landon Clipp

100% no for me.  They are college students, they can barely roll out of bed to do their school work.  I would never trust the lawn to my college students because it won't get done. 

@Joseph Careri

It depends on the level of rental you have. The finishes should fit the neighborhood comparables for financial reasons.

That being said, I pride myself in having nice rentals and all my friends tell me I go overboard with the level of finishes that I put in.  

When I show my property I like for it to be nice a place that someone would be proud to live in.  This is a personal choice and I feel like my property is a reflection of me.  So a quality product is what I choose to go with.

Bottom line is you need to use your criteria. The one that makes the most sense for you.  There are a million different answer and there is no one size fits all.

Keep going!

@Lyle Klein

Nice thats the way to do it! Take what you learned from that experience and do it again.  I like it when young people take the bulls by the horn and take care of business.

@Agustin Dionicio

This is a very vague question but I will answer based on my belief and my investment outlook.

I believe that everyone is different and that it all comes down to personality and individual responsibilities.

Some hypotheticals to illustrate:

If I was single and had no responsibilities my risk level is off the charts- I would be willing to go 100% in because if I failed, I only have me to worry about and I know as a single individual I can endure some pretty harsh condition and will be able to work my way out.

As a married man, I still have the same personal risk level but now I have to consider my other half in the financial decisions. I can not at that point be homeless trying to work my way back like I could as a single individual because of the personal responsibility I have in that partnership.

As a married man with kids, the personal responsibilities become bigger so that further dampens your personal risk level.

Having said all that, I started investing as a young married man with children so I personally was only willing to risk that which would not leave my wife and kids homeless all my investments went down.  So needless to say I did not invest as rigorously as I would have as a single person but I found a level that was conducive to my personal situation.

I hope this helps.

Good luck!

@Gernot Bucheli

I don't care what you do in life:

Lazy = Failure

I am surprised you are still married.  Laziness is one of the only things in life that you actually have control over.

What has always worked for me is hard work dedication to completion of a plan.  I work as hard as I can for as long as I can to achieve the results that I want to achieve.

I know this is now what you want to hear but you should choose something else to do because real estate is not a lazy man's game.  

Good luck!

@Stephen Sloane

Hey Stephen if you have the inside tip then you need to act on it. If you wait the way many people do in situations like this then I will see you posting in 5 years saying you missed the bus.

Nothing is a sure thing until it is.  People are made and lost in markets like that.  

Good luck! I'll pass though

@Alon Helman

I think your planning is great.  My personal opinion is that you need to rethink your location. 

I would first find a market where your budget ($650) would go the farthest. 

Make sure the nurse can find adequate work in that area and since the other works from home that shouldn't be a problem.  

I think a nice town like Bloomington Indiana would work well for you.  They have a large University Hospital for the Nurse. 4 Seasons the town is beautiful and your budget will work well there.  

There are many places in the United States that will fit your criteria.  You just have to explore a little more.  Just my opinion. 

@Aaron Romine

Good post for someone thinking about house hacking.  Treat it like a business and be professional.

Congrats!!

@Kenneth Ryan

I was thinking the same thing as Jason.  If you are west of the 405 you are sitting on a gold mine.  If is east of Culver City then some of that area is rough but still a good start in LA.  The only thing that scares me about LA City proper is rent control. 

Good luck!