All Forum Posts by: Gil Vaisman

 Both. Some vacant units, two evictions and on some units I'm still waiting for the old tenants to move out in order to rehab and rent.

Hi @Sam Newell,

LA is tough in terms of cashflow.  6% cap rate is a good deal and most listings don't make the 1% rule. You have consistent appreciation on the other hand. I've thought of buying out of state, but I find it hard to rent to someone I haven't seen in person. 

Hi Tim,

It's possible, but not easy. 

I've had success with fixers that are underperforming. Nothing sexy. Improve it, add a couple of rental units and couple months later you have cashflow. I focused on properties that had been sitting for a while and had bad agenting. I tried to avoid rent control areas and got lucky.  

There are ways to make it work, but you have to figure out what you're comfortable with have patience and be ready to act.

Hi Charles, 

If you don't need the money, hold. You have a great rate and if the SF market keeps appreciating in a couple of years you should have enough equity to refinance, cash out and use the money as you please. At a certain point you want to start building your passive income.

I also think your rental income estimates are too conservative. 80% occupancy is way too low, in a hot market like SF you will barely have 5% vacancy.

If you live in SF why not manage the property yourself? for $20k monthly rent, that's $24k a year. Now your cashflow could be ~50k 

Managing 2 units is easier than you think. I personally manage 7 units (old building) while having a full time job and it takes me on average 1 hour a week to do it. In a brand new building managing the property should be simple.

Sell it when you need the money for a more profitable deal. 

Thanks guys! 

Hello everyone!

My name is Gil and I've been reading a lot of the content for the past year and I finally decided to join the forums. 

My goal is to be a full time Real Estate investor within the next 2 years. I'm interested in flipping and building from scratch as a career. My long term goal is accumulating income properties (of course!)

Hopefully I'll be able to connect with fellow investors and members of the community. 

Hi,

I'm interested in buying land or cheap properties and building SFR in it. I have experience rehabilitating rental properties but not developing. I'm looking to partner up (or consult) with someone that has experience in building from scratch. I would be available to work on the project almost full time and would like to learn the ins and outs of building homes.

I'm still doing some number crunching and could use some knowledge to dial in actual construction costs. 

Thanks BP!