All Forum Posts by: Sterling H.

All of my properties are in San Jose. I own more than 3 handful. Last year, I bought a townhouse on credit card. I did it again this year on a SFH. 3% balance transfer with 0% interest for 12-18 months. Hey, at least I can say I did it. :)

On credit card? Seriously? How much did you put on the credit card? BTW, when you said '3 handful' how many were you talking about? Is a "handful" 5 properties?

That sounds very interesting. Unfortunately it's a little too far a drive for a lunch meeting.

0 Votes

Originally posted by Minh L.:

Hi Sterling,

Welcome to BP. Not sure if you know this guy. He lives in Saratoga and sells turnkey properties in DFW in TX. Most of his turnkey properties are built in the early to mid 2000's. The ratio on these properties is typically 1.1%. For older houses built in the 80's, the ratio is about 1.2%. I've known this guy for 5 years, but haven't bought anything from him.

Hi Minh, no, I don't know this turnkey guy from Saratoga. Curious to know how he manages to sell turnkey properties from out of state two timezones away. Maybe we could PM and discuss?

Where else do you invest, Minh? Vaguely remember from a recent thread that you plan to liquidate your properties in Santa Clara county and go commercial. Any luck on that?

0 Votes

Originally posted by Brandon Turner:

Did you buy turnkey or how did the Houston acquisitions come about?

I bought two brand new homes. I didn't plan on buying new homes, but that's what I was able to find. The numbers worked (1% rule) and the homes were in decent neighborhoods with good schools.

I'd love to look into turnkey, though, if I could find a team that I could trust. This is a people business after all.

Yes, I should write about my section 8 tenants, the drugs, the pit bulls, the poop stench in the units. Oh yeah, and the spent hypodermic needles in the vacant lots I flipped in Oakland...

1 Vote

Marco Santarelli, second that! I live in San Francisco. It cannot be more pro-tenant. Rent control. 60+% renter population with its super-voting majority. A very informed tenant pool and powerful tenant advocacy groups...

0 Votes

Marco Santarelli, thanks for the warm welcome.

Houston rental market seems to be on fire. My two rentals took less than a week to lease out. One is about an exit away from the new Exxon headquarters. I'd expect that area to be doing quite well.

Agreed it's getting tougher to find good deals there.

0 Votes

I'm new here. Dropping in to say hi to everyone.

I'm not new to real estate. Started in the business flipping vacant lots in Oakland and Southern California and landlording to section 8 tenants in bad part of San Francisco from 2004 to 2008. Got out before the crash. Those were crazy times. I should write about them one of these days.

I haven't touched RE since. But recently I tiptoed back. Purchased two rentals in Houston. Got both rented out about 1% of the purchase price in rent. Sure beat the return I got when I was landlording in SF.

I'm considering buying another one in Houston. And also looking into buying in Florida.

Anyways...

1 Vote

All Forum Posts by: Sterling H.

Sterling H. has started 1 posts and replied 6 times.

Post: Hey everyone...

Post: Hey everyone...

Post: Hey everyone...

Post: It's Time to Move to the Next Level of Investing?

Post: Hey everyone...

Post: Hey everyone...