All Forum Posts by: Jacob Garcia

Hello everyone!

Currently going through the purchasing of a home and wanted to ask if anyone had any investor friendly contractors in the Bay Area that are great at what they do. I'd love the referrals from other investors who have used them in the past. 

Thanks,

No need to apologize. This was helpful to me and my team, thanks! 

Hello Bigger Pockets!

I understand this topic will be very different for every property depending on the choice of material, amount of rehab, permits, etc. But for simplicity's sake when analyzing various deals and being as efficient with time and not spending countless hours on one deal, would anyone happen to have the cost of square footage for any recent rehabs in the Bay Area? Anywhere between a light to medium rehab would be preferred as that is what I am shooting for. The reason for this question is I am trying to analyze as many deals as possible in order to submit as many offers as well without having to spend 1-2 hours on a single property just so the numbers do not work. Any response is appreciated. Thank You! 

Hello Zierry, 

Currently looking for something more local to LA if you are familiar with any recommendations near here that would be great. 

As for Spokane WA I will definitely reach out once have a better understanding of investing and how we should approach places that are not local to us.

@Leeron Regev

Hello Leeron ,

• Thanks for reaching out any help is always welcome. Those are some great questions that we have been talking over with my friends nothing is really clearly defined 100% but we have talked over those points you mentioned. Once we get a more accurate number for the amount of financing qualify for and as long as when we do our analysis the deal works we will figure out a way for the 5 of us to make it work.
• Awesome you’re a contractor this is something we will definitely be needing since we currently don’t have any connections with. Would really appreciate any knowledge you can share with us especially since we are just starting of and still need more experience on how to approach contractors when fixing up the property.

@Marshall Leipprandt

• """As you continue refining, you may also want to consider whether you'll look for properties in family communities, college areas, or locations more filled with young professionals. If looking for properties where families would live, you want to be relatively close to schools, grocery stores, shopping, parks, etc. For areas with a higher density of young professionals, consider areas walkable to bars, coffee shops, and restaurants. LA has a lot of these types of pockets and walkability can play a big factor especially with traffic and parking being so annoying.""". This is just the insight I am trying to learn that I would get with time but thanks for speeding up that process. Appreciate all your feedback thank you.

@Ty Ash

• "I'd recommend finding a local lender and meet-ups are a great place to find out who is other investors recommend in your area.". That is a great way to approach the shopping around for the financing I had in mind just calling around and comparing rates but honestly, this sounds like a better approach thanks. Really appreciate your input and most definitely will be reaching out with more questions thanks.

@Ty Ash

Hello, Ty 

• We are currently looking into how to approach the financing part and how to set ourselves for success by looking for our preferred lenders. The next step would be like you mentioned to start doing an analysis of desired properties. Do you have a way of approaching lenders or key details that you like to see when reaching out to a lender?
• Yes, that is an option we have discussed and we will most likely discuss it further once we find a property that we want to go into. But house hacking does sound beneficial to reduce those monthly payments as you mentioned.
• We have been looking for meet up or events on the BP Calendar and up-and-coming events hopefully we can attend one soon. But will definitely be looking into more local BP meet-ups.
• Thank you appreciate your input and if anything comes to mind that might help us please dont hesitate to put it here looking forward to your reply.

@Marshall Leipprandt 

• Hi, Marshall really appreciate your input and words of encouragement.

• An agent and investor that is awesome someone who would know more needs and wants of some greenhorns trying to get the ball rolling inching our way closer and closer to our current goal of getting our first deal. Yes, those are some great points that you mentioned and how multifamily properties are so luring. We have been exploring some cities in Los Angeles county as well as riverside county some of the metrics we were paying attention to are population growth in the last year, median income and home prices, the unemployment rate as well as job growth, future job growth, and violent crime alongside with property crimes to start narrowing down on some potentials cities. We were mainly focusing on riverside county and saw some good potential from our metrics there but will also start to look into the cities you mentioned and hopefully see what you see. Are there any specific metrics you use when you are exploring a location that we could include in our list? Next for us is to start researching those cities more in-depth. As far as what you mentioned with regards to education thanks for pointing those out since we haven't touched on those topics just yet it's good that you let me know so we can look further into them.
• I'm glad that you pointed out those questions as those are some of the questions we have been discussing currently we are trying to figure our financials we have a basic idea on what we have together but we learn a lot on the financing part of the deals in order to save as much money as possible and hopefully not leave any money in the deal so we can move onto our next property but step by step. But really appreciate you input and looking forward to your next reply to continue learning and be apple to apply it in practice.