All Forum Posts by: Helen Chau

Greeting everyone!

I would like to leverage this group's expertise to help assess my readiness for multi-fam and apartment investing.

I have been a SFR landlord for 4 years. The properties have been providing decent cash flow and appreciation over the last 4 years. I have taken most of my money out (down payment) through refi and the properties still cash flow positively. I am thinking of selling the properties, taking the cash out and putting it into a bigger project.

I am doing my research now. So far I know I have to have 20% down, 10% in reserve, plus inspection / appraisal / closing cost etc. I should do a 1031 exchange when selling my SFRs and put that towards the multi-fam property. I have a CPA and attorney in my power team to help me when I am ready for a deal.

My questions are:

1. what else do I need to be sure that "I am ready"?

2. what do I need to be ready for when I am going to talk to a commercial lender, knowing that they will look at deals very differently than residential? e.g. will my 4 years of landlord experience and full time RE investor status be good enough? This will be an initial conversation because most likely I won't present a deal (I don't have yet). Rather, I will try to find out what type of property I can do given the amount of down and reserve I have, rate, cost and qualification of borrow(s).

3. any other resources I can tap into to help me get ready? I have been reading posts on this forum and found them helpful.

4. what size of multi-fam project should I look into as my first deal? And what type of lender should I talk to?

Appreciate any thoughts and tips on this!

Cheers,

Helen

@Account Closed Thanks for the note...

They are having Alain Plnel in the upcoming event on June 5th.

Hello @Kimberly Rushing ,@Erle Mcdonald ,@Kenny Boyd

I know this is a older post. I just joined BP and found this post. I live in Monterey and I am looking for a nearby REIA to network also. I have been to SJREI in San Jose but would like to know if there is one closer. Or have you guys form our own club yet? :-) My husband is a retired Navy officer and a long time Monterey residence. I moved here recently from Palo Alto and still learning about the RE market here. Our investment properties are mostly in Central Valley area (Tracy). I am looking for income properties closer to home.

@Kenneth Hugen Welcome!

I am an investor in Tracy and I totally understand what you said about the ups and downs in Tracy. I was lucky enough to catch the down in 2011 and now riding the wave up. But recently, the price has gone up too fast and properties are over bid, which starts to worry me. Rentals no longer makes sense, in my opinion, but the appreciation will make up for it. I am also wondering what I should do next in Tracy...

@Brian Barringer Welcome!

I am an investor (SFR) in Tracy, CA. Believe it or not, I am looking for a new realtor/broker to work with in Tracy and neighborhood cities. The broker I worked with when I purchased those properties is from the Bay Area, and I am looking for someone local in Tracy. Email me if you are interested to talk.

Greeting everyone,

I would love to come.

I have been investing since 2011, mainly SFR rentals in Central Valley. Cash flow is my goal. I would love to hear from other investors in the neighborhood (Sac, bay area, tri-valley & central valley) what they are doing and what works and not. This is an exciting market for us I think. I have been to SFREI couple times and another networking event hosted by a mortgage company in South Bay. I look forward to going out more and meeting like-minded investors.

Being down south in Monterey, the distance will be a challenge for me. I may be able to reschedule my new house inspection in Tracy to 5/27, go to Sac for the meetup and stay overnight there. If I can't make it this time, I would love to be informed of any upcoming meetups that I might be able to come. Or even better, come to Monterey! I will pour a glass of wine for everyone!

Cheers,

Helen

Hello Everyone!

My name is Helen and I live in Monterey, CA. I just joined BP and I am already amazed by the amount of good information out there and that the members of the group are so generous in sharing their experiences and motivating / mentoring each other. I look forward to connecting with as many of you as I can online, and meet some of you face-to-face soon.

Anyone actively investing in Northern California please give me a shout-out so I can see where you are and what type of investing activities you are doing.

Cheers!

Helen