All Forum Posts by: Enrique Huerta

In Texas. I also like Phoenix, AZ. There's plenty of opportunities in OOS markets.

PM me. Happy to share my thoughts with you.

If you're considering this deal as a value-add project then it may make more sense. Do you have the rental analysis with your turn around analysis?

Why did the bank pull financing? It is just 3 units....

Did they catch wind of the higher occupants?

Sounds good. Feel free to run deals by me. I'm always happy to share my thoughts and analysis as it keeps me sharp and abreast of various markets. If you also find a good deal, happy to discuss partnering.

If cash flow is your goal, I don't find a 4.78% Cash on Cash very attractive especially for a deal that seems risky (disclaimer: I don't know this market and I don't particularly target "student housing."

How does the Price/Unit at $67,000/Unit compare to comparable properties?

Could you find better returns on your invested capital elsewhere?

@Stella Guan, in general the inventory will be limited but a quick MLS search yielded 18 potential properties below $350,000 in 29 Palms, Cathedral City, and Palm Desert.

Part of the reason for the limited inventory is the lower price point. While the desert region is more affordable, it is still California and most inventory will be north of $400,000.

If you need help finding some properties, feel free to inbox me. I can introduce you to a few brokers in that area who have multifamily units and/or get you MLS access.

Best of luck.

@Natalie Wells

Both are strong markets. I like Texas more.

@Aariff Kadar

I’d rather buy Multifamily out of state, but I have a focus on current cash flow. CA is great for appreciation and there is definitely going to be continued long term growth, etc...but I’d prefer a lower cost and higher yielding investment personally.

What are your goals?

@Garland Young

Phoenix is great. Top 10 market for many economic factors like rent growth, population growth, job growth, etc.

Lot of Competition our there but it’s a strong market.

Let me know if you have further questions. Our firm is seeking opportunities all across the Phoenix metro and I have some intimate knowledge of the market.

@Stella Guan

Personally, I’d look Into buying a multi-unit in the Palm Springs area. LA will be tough for less than $800,000 or so, but as someone mentioned you can find more cost effective properties in that desert area.

I wouldn’t do short term rentals but only because I wouldn’t want to deal with the management and its regulations.

Buy 2-4 units, live in one, rent the rest.

And it’s not that difficult to finance, manage, etc. Don’t let the articles you read scare you. Main thing is find good tenants and that can be done with screening qualifications:

-income 3x the Rent

-minimum FICO score

-minimum reserves

-positive references

Be disciplined with screening and you should be solid. Best of luck.

Also, you should Rent first before you buy. Short term 3-6 month lease until you learn the areas and find a good deal.

Someone else mentioned that too and I agree.

@Adania Cornejo

What is your question?