All Forum Posts by: Lenny B.

Hello everyone,

I’m Looking for investor friendly realtor in Guerneville, CA, Russian River area. 

Thank you for your recommendations.

@Tim Key I curious what is your net cash per door in Indy? The reason I am asking is because I have been reading that a typical cash flow is around $100 per door.

When did you buy a condo there for $260k? Would your model be profitable if bought it at today’s prices?

Hello everyone,

I'm trying to figure out what can real estate agent that is representing sellers can do if the house is not selling? In our case, The house is a bit unusual for the neighborhood. It's a highly desirable area in mid Peninsula San Francisco, but the highest is 25% larger than A typical house in the neighborhood. The average price per square foot around us is about $1200, our price is under $900 for a house in great condition over 4000 ft.². Assuming the price is reasonable, What can real estate agent be doing besides open houses on the weekends? Assuming the house is on MLS and syndicated to all the major real estate sites like Zillow and redfin, what else can be done in addition to weekly open houses?

Hello, I am working on purchasing a duplex in Oakland, CA and looking for a local attorney that can help me set up a single entity LLC, review all the lender docs and help with the condo conversion legalities. Any referrals are appreciated.

thanks,

Lenny

I am in the process of negotiating on a purchase of a duplex in Oakland that I plan on converting to condos. Does anyone know of an entity that can help navigate all the steps in the process? Whether it's a law firm or surveyor company? Thanks.

Hello,

I am considering buying a duplex in Oakland California that seems to have good bones, but needs a substantial makeover - new exterior, roof, plumbing, electrical, foundation work, and interior. There is a lot of interested in the property and our agent tells us that we should do as much research as possible and give an offer without an inspection contingency if we want to have a chance at getting this property. There is already a termite report and bid to fix it ($100K+), title report, seller questionnaire and disclosure statement. We are planning to get a foundation inspection and estimate. In the end, the plan is to fix and flip or to do a condo conversion (which I know requires a bunch of other reports, etc.)

If we decide to put an offer without inspection contingency, are there other inspections/reports I need to get to make sure I don't buy a lemon? Like the environmental report, etc.

thanks,

Lenny.

Came across this article https://www.msn.com/en-us/money/markets/the-next-housing-crash-could-be-caused-by-weather-not-wall-street/ar-BBPiaJq. Surprised to see San Mateo and San Jose in a list of top 10 coastal communities with the highest property values at risk of flooding. How come? 

Hello, I am looking for a reliable landscaping/gardening service (company or individual) to service my fourplex in Rancho Cordova. I need someone to come out twice a month and do a basic cleaning/sweeping, occasionally cut the grass, etc.

Any referrals would be appreciated.

thanks, 

lenny

I bought a fourplex in Sacramento area, each unit is a 2bd/1ba  958 sq.feet. Only living room has a wall AC and a wall heater. I decided to remodel each unit and put mini-split systems in each room. I bought 12 heads/compressors, paid $600 per 12,000 BTU units. The contractor that was going to install it, said I don't need a permit, because he was going to plug them into the wall outlets in each room. Well... he turned out to be a dumb idiot, because it turned out that each room had all wall plugs wired together to a 15 amp breaker. That means if you turn on an AC in a room and then turn on something else in that room, you might burn down the house.

I had to get the electrical permit - $800 and do a proper electrical wiring on the outside of the house from the main panel, another $6200. Then get another permit for air conditioning installation for $700 and the installation cost of $550 per room + materials. Overall it became a $24K adventure...

It looks and works great, the tenants love it and I am sure I'll get the money back at sale if the appreciation keeps  at the current level. If you ask me if I would buy another property without AC, I would say no way!