All Forum Posts by: Inessa Stysis

@Jasmine Russell be a very wealthy gypsy with my husband traveling the world in style. :)

@Zachary Jensen another point I haven’t seen mentioned is if/when you go to sell the property you’re almost certainly guaranteeing these good tenants will get evicted/hit with a huge rent increase. Assuming because you haven’t been raising rents, you have had less reserves to continue maintenance on the property, it’ll become more of a value-add product and the buyer will need to raise the rents significantly to make their numbers work.

Also inflation is at like 6% right now!

Hello! Im new to the east LA area and I’m looking to connect with anyone who’s out in Palmdale, Lancaster, and/or Santa Clarita. I would love to start or join a networking group.

Hi David, this is one of the best threads I've ever seen on this site! So much good info. Can I ask, what parking requirements are for these builds, if there are any?

@James G. I would say it depends on the timeline of everything. Did you tour this property with your agent and then he wrapped it up for himself? Then yes, fire him and that could potentially be a violation of his license.

If you didn’t have any relationship with him before and just reached out to him with an interest in this property, he wouldn’t have technically owed you the duty of loyalty but still should have said something.

@Jim Russum thank you for the insight!

@Bennet Sebastian I would look at it as more people having eyes on your presentation. You never know who the brother or dad may know.

Also most everyone you meet will likely have people in their ear.. a spouse, friends, or family at home that they may go to for advice and insight. At least this way you’re able to see and speak to them face to face.

I’ve been looking in Houston for apartment complexes - but have been sticking to the upper loop. I’ll look into these areas as well (if they have good multis). If anyone knows of any properties around 1 million with value add opportunities, I would love to hear about them!

@Barima Opong-Owusu just looking at zoning is an incomplete picture. You’ll also have to find out if the basement is considered habitable based on your city/county requirements. Things like ceiling height, and egress windows usually come up as obstacles in a basement renovation. If the basement will be a whole seperate unit, will you be separating utilities down there? Also sewer capacity and parking allowance will be another thing you want to check, again depending on your city’s requirements.

From reading these posts, I’m finding the overall mindset of who a wholesaler should be and what they should do is a bit unfair.

If you think about what a wholesaler is doing within their business day to day, you can’t justify them doing any sort of hand holding because that’s not how they’ll get paid. They’re texting and emailing potentially hundreds of people so no, they’re not going to answer every question. I don’t expect them to sit at a computer all day and do perfect analysis. I’m more than happy to have someone else walking up to the run down properties and talking to whoever is inside, because that is not something I want to do. I’ll also never understand the mentality of trusting a wholesaler, (or agent for that matter) to do the due diligence on an investor’s behalf for rehab costs.

IMO the wholesalers who are always posting “deals” in Facebook groups and fb marketplace will have properties that are harder to make work - because most of the time they’re advertising other wholesale deals and tacking on their own fees. I didn’t see this mentioned above, but wholesale deals will sometimes be layered with 2-4 wholesalers all getting a cut and that’s why the numbers are so tight. I have to disagree with Jay a bit here because the good wholesalers are more word of mouth and who you know, and you have to build a relationship with them.