All Forum Posts by: Jeffrey Almonte

@April Childers , welcome to BP and thank you for your service! I wish you the best in  your investing career, BP is a great place with tons of resources and knowledge.

Welcome to BP @Chuck Marley ! It's great you're wanting to start in multifamily, it is definitely more scalable than SFRs. Best wishes in your investing career!

Hi @Jerry Poon . Any reason why your specifically targeting a tax services company in SoCal? I'm sure you could hire reputable CPAs from other states as well, possibly at better rates too.

Hi @Michael Coakley . Welcome to BP!

I live in California and invest out of state. Live where you want and invest where it makes sense :)

Great advice here. Getting a job in the real estate industry would be a great way to get your feet wet in real estate and get paid. You could be a property manager, handyman, leasing agent, real estate agent. Or find a way to add value to a local real estate investor, shadow them, and get paid a small base salary to cover your expenses.

I would sell it and turn that cash negative property into a cash flowing property.

You may be okay with -$800/month now, but what if any emergencies come up. Or what if you lose your job.

Hi @Alex Shin , I have the same questions as @Ali Boone and others above.

To answer your question regarding narrowing down your CapEx number, make a list of items that have a limited lifespan such as roofs, water heaters, HVAC, appliances, etc. Decide how much that would cost to replace each of those items and divide it by its lifespan in months and add a 5-10% contingency.

As others have stated, it is always best to run your own numbers. The only person who cares most about your money is yourself!

I know many realtors who come up with fictitious values and always assume an appreciating market. Many of these realtors don't own investment properties and think their personal home is an investment.

Hi @Edmund Li !

If you're investing out of state, beware of cheaper properties. These are more active investments and you deal with a different class. You'll be heavily relying on your PM company and a local handyman for smaller repairs. There have been many threads of out of state investors losing money on low income properties.

As others have stated, percentages aren't a valid way to estimate CapEx. A roof will cost the same regardless of the rent being $600 or $1000 a month. But the percentages are vastly different.

If you decide to invest in out of state cheaper properties, the best money you can spend is to fly there and spend some time in the area. Spend more time building your team and connecting with local BP members. And get a free local Google Voice number so handymen don't try to upsell you immediately.

Welcome to BP @Dakota Chance Matheny ! Thanks for your service! I have several friends in college that majored in Architecture. It's tough but well worth it.

Best wishes in your college courses and investing career!