All Forum Posts by: Jason Malabute

 thank. you. very helpful.

when investing out of state is it better to go the turnkey way instead of finding a deal, renovating property and getting property management yourself? why?

 thank you so would you recommend going with turnkey instead of building my out of state portfolio myself from scratch?

 im considering turnkeys

Hi All,

I live in Los Angeles.

I was wondering what is the process of identifying, analyzing, and investing out of state?

How long does the process of investing out of state normally take (newbie)?

I will not have capital to invest until January 2019... What should I be doing/studying until then?

Thank you,

JM

 Thank you Andrew this is the best advice that I have gotten so far.

You are correct I need to meet outside the box in getting leads.

My question is how do you know if an upgrade adds value to a property and by how much?

Do you recommend any good REI groups in LA?

Thank you,

Jason

Thank you Andrew this is the best advice that I have gotten so far. 

You are correct I need to meet outside the box in getting leads. 

My question is how  do you know if an upgrade adds value to a property and by how much?

Thank you,

Jason

Thank you all. Actually the rent should cover the mortgage because I am putting such a big money down. I was hung up because of the lack of CF after considering CF. If we are not considering the CF mortgage and property tax should be covered. 

I need some advise please:

So I have $200k to put down. I am pre approved for a $580k duplex, $640k triplex, or a $700k fourplex. My mom is a co-borrower (I would not get approved without her). The condition of the loan is that the property has to be owner occupied. In 2018, I will be receiving a large chunk of capital ($400-500k) that I will be investing in real estate also.

Here is the dilemma, since LA and it is a "seller market" I am having a hard time getting my offers taken seriously because it is so low. I offer way lower than asking price because that. is the only way I will cash flow with 3% vacancy, 25% repairs, 5% Capex, and 10% property management fee on top of the fixed expenses.

I am a CPA who HAS CEREBRAL PALSY AND I DO NOT DRIVE. THEREFORE, I CANNOT LOOK FOR PROPERTIES AN HOUR OUTSIDE OF LA BECAUSE I WOULDNT BE ABLE TO GET TO MY JOB THAT IS IN LA. It is also not that easy to quit your job and move when you have Cerebral Palsy.

I have to move out soon(by July or August) I dont want to waste my capital on renting. I also don't want my preapproval to expire.

I was thinking would it be a good idea if I just buy a duplex in LA that I can live in for a long time (for more than a year) even if it does not cash flow? As long I am house hacking and having the second unit pay my mortgage.

I will then use the capital that I will receive in 2018 to buy a property or properties outside of LA where it actually cash flows and has a decent ROI while still living (house hacking) in duplex that I buy in property that I buy in 2017. I could also use some equity from my first property by then.

I just want to get my foot in the door

Is this a good idea to change my strategy or should I keep offering low in LA market?

Thank you,

jm

I need some advise please:

So I have $200k to put down. I am pre approved for a $580k duplex, $640k triplex, or a $700k fourplex. My mom is a co-borrower (I would not get approved without her). The condition of the loan is that the property has to be owner occupied. In 2018, I will be receiving a large chunk of capital ($400-500k) that I will be investing in real estate also.

Here is the dilemma, since LA and it is a "seller market" I am having a hard time getting my offers taken seriously because it is so low. I offer way lower than asking price because that. is the only way I will cash flow with 3% vacancy, 25% repairs, 5% Capex, and 10% property management fee on top of the fixed expenses.

I am a CPA who HAS CEREBRAL PALSY AND I DO NOT DRIVE. THEREFORE, I CANNOT LOOK FOR PROPERTIES AN HOUR OUTSIDE OF LA BECAUSE I WOULDNT BE ABLE TO GET TO MY JOB THAT IS IN LA. It is also not that easy to quit your job and move when you have Cerebral Palsy.

I have to move out soon(by July or August) I dont want to waste my capital on renting. I also don't want my preapproval to expire.

I  was thinking would it be a good idea if I just buy a duplex in LA that I can live in for a long time (for more than a year) even if it does not cash flow? As long I am house hacking and having the second  unit pay my mortgage.

I will then use the capital that I will receive in 2018 to buy a property or properties outside of LA where it actually cash flows and has a decent ROI while still living (house hacking) in duplex that I buy in property that I buy in 2017. I could also use some equity from my first property by then.

I just want to get my foot in the door

Is this a good idea to change my strategy or should I keep offering low in LA market?

Thank you,

jm