All Forum Posts by: Deeps Brar

The purchase price was incredible. At purchase time we were 20% below appraisal. Rents were low at $620, we raised rents and will continue to raise rents until we get to market at about $850. Buildings need work but are in good shape overall.

How did you find this deal and how did you negotiate it?

We were in the process of buying another deal when our lender brought this to us. He said to finish our current purchase and then he would show us this deal :)

How did you finance this deal?

We borrowed our down payment from a Heloc, friends, and family and took out a mortgage from a local bank for 70%.

How did you add value to the deal?

Currently, we are raising rents, ultimately we plan to redo all bathrooms and kitchens as well as the outside of the units.

What was the outcome?

Property is moving along pretty smoothly.

Lessons learned? Challenges?

Management is key, I talked with one property manager extensively and then hired them to manage the property. I should have interviewed several. So far the manager I hired is working out and we are getting used to working together.

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@Raul Cesar cortes: hi Raul any recommendations on what are decent areas to invest in Fresno or within central valley for multi-family units.

Originally posted by @Raul Cesar cortes:

Hey Michael

I own mutliple units in fresno and manage all my properties. I am more than willing to answer any questions or get you in contact with great handymen.

good luck Cesar

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Originally posted by @Justin Kane:

if you want to stick in your area thats great, but if you would rather be passive i could think of a dozen markets better than fresno.. if you are liquid 50k+ it might be better to partner with a more experienced investor.. but first you need to identify which path you want to take.. SFR or MF not both.. I was big on SFR but recently moved to MF in a big way so i can say from both sides of the field MF is better if you are ready for it

Hey Justin

I have never invested outside of California and have never partnered up with anyone who I don't know to invest. how does the process works if I want to invest and are there any state regulation (taxes) if going to take money outside the state.

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I was thinking about going towards multi-family units anywere in the central California area.. In Fresno looking for NW and SE areas or even in Madera, Selma, Reedley, Kerman, Turlock, Modesto any of these markets, but I am not aware of how the rental market is in these areas.

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Hey i'm looking to invest in Fresno County area for muli-units or single family for investment, any recommendations to invest in multi-units or single family and which neighborhoods are good to buy.

investment amount im thinking is around 300-350k.

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All Forum Posts by: Deeps Brar

Deeps Brar has started 1 posts and replied 5 times.

Post: 18 units in Fresno, CA. This is a deal I plan to replicate soon.

Post: Fresno, California

Post: Central California investment property

Post: Central California investment property

Post: Central California investment property