All Forum Posts by: Dulce Beltran

Eleena de Lisser This is a fantastic guide, I really appreciate your input! Matt Clark thank you for your input and helping me build my knowledge!

@William Pope it is possible to find a "good deal" with an Agent depending on what is a "good deal" for you.  Just like you mentioned, you have to put in the work to find a good agent that understands and thinks like an investor to help identify potential deals vs. every home on the market. Leveraging local Agents is a great resource, it helps build your network, your credibility as an active investor, your lead funnel, and creating potential partnerships. 

From an active Realtor's perspective, i vet any potential investor to make sure they're an active investor. I actively farm/lead generate daily for seller's and depending on the seller's needs, it dictates whether the property is a potential deal for an investor or it's best for an owner occupied buyer. For me personally, I only work with a handful of investors as they/we require more time and energy than the owner occupied buyer. The relationship has to be a win-win on both sides. 

Hope this helps!

In my personal opinion as a landlord (I am not an attorney, this is not legal advice, consult an attorney in your state).

Your lease should include wording of any modifications must have owner's written approval prior to any work authorized and who pays for such work. If not and work was done with out your express written approval and it is in your lease tenant cannot modify unit (electrical, plumbing, etc). If so then it is a breach of your lease. 

Speak with your tenants first and give them the option, keep it and pay higher rent and water costs, or remove them at their cost by licensed professional (if modifications were done). Most likely they will choose to keep them and have them sign a new lease with the new provisions. Be prepared with both options written up (new lease w/new terms and quote from licensed professional to return unit in original condition) when you meet with them and have them sign it on the spot. 

My biggest concern is the proper ventilation, they're actions are making you liable for a potential fire due to bad ventilation. I would include W/D in my units, sub-meter and charge higher rents and have tenants pay all utilities. It improves your property value and attractiveness for new tenants.

Worst case scenario, you are able to serve a "Notice of Breach of Contract" to tenant (asap) and evict.

Do NOT just wait, address this now, you have to set the correct expectations aka train your tenants. 

Antoine Martel just to clarify, Large anchor stores/amenities within walking distance for an A class. This is a great starting point, thank you.

Hey BP! Am looking into commercial residential and want to know the differences between a class A, B, C buildings. Besides the ubiquitous letter grade, what actually makes the building class a C vs an F aka a war zone? I’m sure it’s location, amenities, proximity, tenants, transportation, population, crime, etc. Is there a specific list I can use as a guide?

Can one obtain a commercial loan for a 4plex if purchasing 4 at once?

@Tim Milazzo I agree, SBA and Fannie/Freddie will not work for our needs, we're still in the process of acquiring the knowledge on commercial loans, etc. Thank you Tim, I appreciate your input!

@Tom Keating thank you, the freddie and fannie commercial conventional program wouldn't be needed now, something I'll keep in mind in a few years. 

@Andrew Johnson agreed, the 30-40% is definitely for San Diego, and wanted input for outside San Diego. 

@Marty Johnston i'll look into the sba, thank you. 

@Jon Holdman i'll research that tonight, thank you! I wanted to clarify by "conventional" I was referring to traditional lenders vs. creative financing. 

Also, we’ll be purchasing out state and are currently researching high COC markets. What are potential challenges one might face being an out of state investor and from self managing one door in state to hiring a PM to manage multi?