All Forum Posts by: Eric Gerakos
Eric Gerakos has started 0 posts and replied 792 times.
Post: It's my time to shine
- Investor
- Costa Mesa, CA
- Posts 810
- Votes 1,098
Welcome, Jason. I wouldn't focus on the number of properties but on the profitability of each one. Better to own fewer but better properties with less vacancy and more appreciation that 50 midwest crapboxes that with maintenance and vacancy barely break even. Good luck to you.
Post: One of the Biggest Headaches for Real Estate Investors: Prolonged Vacancy
- Investor
- Costa Mesa, CA
- Posts 810
- Votes 1,098
Vacancy is directly related to location and tenant pool. I never have Vacancy because I buy where people want to live, not where its cheapest......
Post: Thinking of changing strategies
- Investor
- Costa Mesa, CA
- Posts 810
- Votes 1,098
Quote from @Edward Dandrea:
@Eric Gerakos
I mean that’s the point of the mgmt company isn’t it?
You're joking? PM can't put an A tenant in a D property. A beginners mistake is thinking that different classes of properties attract the same kind of tenants. They don't.
Post: Thinking of changing strategies
- Investor
- Costa Mesa, CA
- Posts 810
- Votes 1,098
The downside is that cheap properties are cheap because they are less desirable and will attract less desirable tenants. Higher maintenance, vacancy, evictions. Better to own fewer but better and more profitable properties.
Post: What’s the First Number You Look at in a Deal?
- Investor
- Costa Mesa, CA
- Posts 810
- Votes 1,098
None of the above. The first think i look at is area and tenant pool. If the locals are broke, the other numbers won't matter. This is why D properties look great on paper, until the tenant stops paying rent.
Post: Would you purchase a book on hard money horror stories
- Investor
- Costa Mesa, CA
- Posts 810
- Votes 1,098
No.
Post: Do Investors Buy Condo Properties to Sell
- Investor
- Costa Mesa, CA
- Posts 810
- Votes 1,098
I have condos that have had great appreciation and constant rent increases. I buy in upscale areas where people want to live, as opposed to buying in the cheapest, “affordable” areas.
Post: Notes vs Rentals
- Investor
- Costa Mesa, CA
- Posts 810
- Votes 1,098
I do both. I need the rentals for tax write offs.
Post: BRRRR to slow for me!
- Investor
- Costa Mesa, CA
- Posts 810
- Votes 1,098
Quote from @John Matthew Johnston:
@Erik Estrada We decided that we would concentrate on higher end houses in great neighborhoods\ School Districts because we wanted a higher caliber renter and better appreciation on our properties. The downside is the cost of those properties and actually finding these sought after properties in a competitive market aren’t exactly easy. Because of the cost of these nicer properties we end up doing some of the work ourselves so we usually average a 6 month reno so yes the time to find/reno/ seasoning period is what slows us down a bit
I think you're smart buying higher end properties. Less hassles and more profits.
Post: Completing a BRRRR in C or D neighborhoods
- Investor
- Costa Mesa, CA
- Posts 810
- Votes 1,098
As others have said, keep in mind that C or D properties attract C or D tenants. Higher maintenance, evictions etc.......