All Forum Posts by: Dylan Vargas

@Tamera McKenzie Welcome! Glad to see another member from Chico on here. We have a Real Estate Investor Meet Up on the 2nd Tuesday of each month just fyi. This area where your home is has been vacant fields forever. I personally like seeing things built out there. Nice views and bike paths going in etc. Good luck and keep us posted.

@David Lamb Welcome! I do not believe the 4 phases of a real estate cycle are applicable at this moment. We are in uncharted waters. This is a bizarre time and could possibly be this way for a long time. Rates are the driving factor on supply and demand and no one seems to know what type of event will have people sell with %3 mortgages. Therefore supply will be in a real odd space for a while excluding a few outlier areas or states. Very interesting times!!!!!

@Becca F. Great info and thank you so much for sharing. Good stuff to research. I also like Midwest properties for cash flow and a part of my investing. Keep us posted!!

@Lara Gonzalez Welcome! Where are your properties located? I use a local credit union for out of state properties so tenants have the option of walking in and making a deposit. I also make sure they accept Zelle, Venmo etc. You shouldn't be paying any fees with the exception of special needs I would think. I use Chase also simply because no local banks would let me have an LLC account. I always try local credit unions first. Good luck and keep us posted.

@Steve Hodgdon Welcome! 12k for a 10x12? Typical California BS!. That is inexplicable. The hot tub can be a pain so understand a certain charge but $1800? Good Lord! I dont think this is acceptable whatsoever. Now with all this being said were you on some inaccessible hillside or any crazy things we need to know about making tear down and removal beyond challenging? I had a person quote me $1800 for a drywall patch. Another did great work for $365. I No, not looking for the cheapest but a 4 hour drywall patch job at most for $1800? Cmon man! Crazy the disparity. Good luck and keep us posted own the out of state stuff.

@Christopher Bierman-Gwinn Welcome! Shasta is a tough one. Massive appreciation recently but wildfires and insurance may be issues. Also...$200-$300k are getting more rare to find.  That area Shasta/Weed/Dunsmuir etc were really bottomed out recently so i wonder if its a bubble situation up there. Been declining in population and business for years. Sometimes not much snow so tourism suffers. Now...I still think there are opportunities but I would check out insurance as I just went through this in a much safer yet rural town. This is becoming a problem in California. If you can renovate you can pounce on something but I just get worried about the future economy up there. Keep in mind I always look up there for deals. Ha! I think you may find deals closer to where you live. Good luck and keep us posted.

@Roy Mitle Welcome! California has a statewide rent control law. I would brush up on this as you can only raise the rent so much. There are other things to consider so I would speak to an eviction attorney. Other wise give them the required notice to move out. I would definitely  consult with someone in your area that is knowledgable of the landlord tenants laws locally and in the state of California. Good luck and keep us posted.

@Sasha Josephs Welcome! If you have a lot of assets, W-2 and are flipping in a different state you definitely need to speak to a qualified estate planning attorney, cpa and an attorney that deals with entities and which entity to form. You may find an attorney that deals with all these. I just attended an event with this exact topic.Get all the information then make your decision. Good luck and keep us posted. 

@Edward Alicante Welcome! Go to an independent insurance agent and ask for some quotes. They should have a company or companies that offer the insurance you need. Good luck and keep us posted.

@J.D. Barton Welcome! I have a place in Harvey, so not too far from your area. At any rate my biggest challenge is maintenance or getting a simple window replaced without waiting 3 months. I self manage. You may not have many options around that area. Definitely switch if you are not getting results. I would self manage as once they are full it doesn't take a ton of time. Good luck and keep us posted.