All Forum Posts by: Jay Y.

@Ryan Shuchman Thanks for sharing! This is great motivation for someone just starting out, and for those in the accumulation phase. $3800/month in cash flow sounds sweet! My intermediate plan is to get to $3000/month, which may happen around the 8 property mark. I have a few Bay Area properties, and although great for appreciation, leave a lot to be desired from a cash flow perspective.

Hey @Pete Tam I'm right next to the Great Mall. Let me know if you'd be interested in any South Bay meetups!

Cash on cash numbers look pretty solid for a turnkey in the Houston market.

I'm with @ Aaron Montague, you might want to double check the closing costs... that is unless the seller is paying them for you.

Good luck!

@John A. @Jennifer A. Thanks for sharing!

John,

For the properties I've rehabbed locally, I usually set aside between $5k and $15k.

Jennifer,

Congrats on locking down #4! I'm working on that as we speak... haha, neat, I started in July 2012, and am also trying to get to 4 by the end of the year. I like your style ;)

Welcome @Kelly L. from a fellow engineer... I'll admit, real estate is more fun :)

Are you planning on buying your own home and investment property in California?

If the investment property is out of state, I'd say within a year's timeframe is realistic, since there are many markets outside that are much more affordable. So, it should be possible to save up the downpayment, even with modest savings. This would definitely be much tougher to do in most parts of California...

There's no signup sheet or anything like that yet, but if others in the South Bay are interested, we should set something up.

Anyone else interested?

I'm a buy and hold investor, and nothing is as fun as closing the next property! Just curious, how long does it take you to save up for the next purchase? Also, what's the target price and speed of accumulation?

For myself, I'm currently focusing on SFH. My target acquisitions are between $80k to $120k or so. That's about $30k + closing ($5000?) for 25% downpayment on the high end.

I'd like to be able to acquire 3 per year. So, that requires $35k in savings every 4 months, or $8750/month. Not quite there yet, but I'm working on it. :)

Welcome @Ralph E.

The Bay Area contingent continues to grow! ;)

Hey @Mike Lam ,

Welcome from another Bay Area investor! Let me know if you would be interested in a South Bay meetup sometime.

Best of luck!