All Forum Posts by: Jeremy Blevins

I did a search and found you guys on other posts from the Sac / Folsom area. Let’s get this meetup going and keep it going! It looks like there have been attempts in the past so there is definitely something here!

@Ben Howard

@Jeremy brown

@Pete tam

@Derek Jones

@Jesse hinaman

@Nguyen quach

@Zach Thomas

@Brian serina

@Sunny singh

@Lance mills

@Tobias Falzone

@Amanda penna

1 Vote

@Roxanne Quane Hey Roxanne, that’s awesome! Looking forward to meeting you next month! See you then

1 Vote

Hey BP!

I stumbled upon BP about two years ago and my wife and I have slowly gotten into the real estate game. We sold our sfh and purchased a duplex in Folsom that we renovated and are now house hacking. My wife also just recently got her RE license and has been in property management 8+ years. I certainly don’t have all the answers but, I really enjoy talking business and real estate, and would love to have some beers and talk to like minded people!

I’m holding the meetup Thursday July 23rd from 6-8pm at the out of bounds brewery in Folsom CA.

0 Votes

@Timofei Kadkin when the nay sayers put down real estate ask yourself whether or not they have ever done it.. everyone thinks they know everything about something they have never done before!

As others have mentioned house hacking would be a great place to start. Good luck!

1 Vote

Originally posted by @Daniel Ryu:

@Jeremy Blevins

It's a good question - we almost had a deal blow up in our face because the owner got spooked that we were letting tenants / locals know that we were buying the park.

We'll ask the owner before we go onsite if they want the transaction kept private from the tenants. In that case, we'll conduct the onsite diligence as insurance inspectors - looking to insure the homes and the park and needing to inspect.

Great idea posing as an insurance inspector.. keeps both parties happy and verifies what you need! Thanks Daniel

1 Vote

Originally posted by @Jack Martin:

There are a handful of items that should confirm who is living at each space and how much they are paying. Start with the rent roll. Compare that with the trailing financials, tax returns, and bank statements. Review the current leases. Interview the manager. Interview the maintenance tech. You can also require estoppel certificates from the seller, which is a signed statement that a lease exists, that there are no defaults, and that rent is paid up to a certain date. If the park has POHs, you should make viewing the inside of all POHs a requirement. It's best to have the current owner/manager schedule those since by law there is a notice required in advance. (in AZ it's 48 hours in advance)

Thanks for the info Jack! I guess comparing the stated rent roll to the income statements would be your best way to verify occupancy along with door knocking.

0 Votes

@Jack Martin Jack I’m curious, when you are in your due diligence period and want to knock on doors to verify tenants actually live there and are paying what the seller says they are paying, does the seller mind you do this? It seems like the sellers wouldn’t want tenants or management to know they are selling. How do you go about doing this? Thanks!

1 Vote

@Yolanda W Cuevas we use cozy.co to collect rents. It has a feature that allows tenants to report problems/submit maintenance requests on there and also has the option to add photos. I think this feature makes managing requests much easier as your not bombarded by text messages at all hours of the night. Good luck!

1 Vote

@Patrick M. Mainly because you can write off your mortgage interest on taxable earnings?

0 Votes

All Forum Posts by: Jeremy Blevins

Jeremy Blevins has started 20 posts and replied 130 times.

Post: Folsom REI out of bounds brewery meetup

Post: Folsom REI out of bounds brewery meetup

Post: Folsom REI out of bounds brewery meetup

Post: Folsom REI out of bounds brewery meetup

Post: Is it possible to start investing in real estate with 10k(newbie)

Post: Mobile Home Park Inspections and Due Diligence

Post: Mobile Home Park Inspections and Due Diligence

Post: Mobile Home Park Inspections and Due Diligence

Post: Where to draw the line? Tenant Wants to Take Over

Post: Overcoming the Idea That Paying Off Mortgages Is A Good Idea