All Forum Posts by: Account Closed

I'll be there like swimwear!

It's tough to say that the advice you are seeking is expensive when it seems like it would give you the piece of mind you are seeking in addition to legal guidance. McDonalds' dollar cent menu is cheap for a reason... 

Seems like a 1 hour consult is all you really need. I would recommend speaking to an attorney. Check out the Law Office of Kou Lor, I'm sure he could alleviate your concerns for a reasonable fee. 

I'm a tentative yes. Thanks Andrea for volunteering to get there early! 

I would be interested as well. I can attend at the 10AM proposed time. Please let me know if that works for everyone.

As a newbie, it is imperative that you learn how to run your own numbers. Then talk to other investors and share your assumptions with them and begin a dialogue. Asking someone else to run your numbers is scary. Brandon's begginers guide is a great resource to learn how to analyze deals on your own. Learning the fundamentals is vital for long term success. 

@Carrianne Mucho Great insight. I have a question for you, what employment data do you look at to gain insights on the Sacramento area? I'm interested to learn what sectors, besides the State, are high employers in the area. Feel free to PM me, if needed. 

64052. S. Maywood & East 22nd Street. What are your thoughts on this neighborhood?

@Al Williamson do you have any advice?

Is this the great John Stoller from King Hall? If so, PM me!

Personally, I would not buy this place because the square footage is too small to cash flow for a loooong time. If you plan on living there for the next 5-7 years, it's not so bad, however you could do much better. If I were you, I'd look for a 4-plex, in a lesser area, that would eventually cash flow while still using your FHA loan. It will likely be more expensive up front, but you will be better positioned to catch later rent increases.

Also, the cost of utilities listed is too low. We are billed, as the property owners, $265/month for water/trash/sewer (all city provided services) for our duplex in 95822. I would recommend charging your tenant for their share because that's a tough pill to swallow.

Tax benefit - I wouldn't price those into your mortgage because a lot of the factors that determine your tax situation are still undefined and will be until the end of the calendar year. Deductions are not a dollar for dollar decrease in your tax liability, tax credits are. So, I would not price that aspect in unless you get your tax person to do it for you. This is not meant to be tax advice, but only my perspective.

Capex - even if certain items are new, it's been my experience that things you wouldn't think of still pop up, so you want to be prepared. Will you always be the gardener? Will you trim the trees that are on the property and fix the sprinklers? Etc. etc. Things always pop up and $100 is likely unrealistic.

Rent - I think you could easily get $1200/month for rent right now. Is this a 1/1 on both sides or something else? If you have a 2/1 you could rent a room in your place to increase your income. I've done that, and it was very easy. Also, you have to think about property management. Will you always manage the property? Since you make a lot, you likely work a lot. 

Bottom line: if you're looking for a deal or a good investment, this likely isn't it. But if you're looking for a smart way to live in a great area, why not? Not everyone is trying to be a real estate mogul. 

Interested.