All Forum Posts by: Joe Nasr

Thank you so much for the detailed info!They seem pretty reasonable. 

Property tax in LA usually stands at around 1.2% 

As for the home insurance i've seen a lot of units insured at 0.5$/sqft/year.

Let me know when you're done with your MLS database! That sounds like a interesting project!!

Hey Jonathan,

Thanks for the great info! So if youre ditching the 50% rule and go with 40% and 32%, are you trying to supplement the loss of cash flow by appreciation?

I am looking for a triplex or 4-plex in the city of LA 

Wow. Good luck for me finding properties in the LA area that meets this criteria! Its always a hot market here. Patience i guess.

@brandon fish you seem you've done a lot of research for your age! Thanks for the reply!

@willie norris what is the 50% rule? I am assuming brandon meant the same thing with the 1.5 repair multiplier. Does it mean you take 50% of of your gross rental and the property should still cash flow?

Hi,

I am looking to buy my first income property and wanted to know how much the maintenance, utilities and PITI should i deduct from the gross rental income? I have been told 45% of gross income but there doesn't seem to be any properties that fit these parameters.

Any help is much appreciated!

Hey @Kuba F.

I have not tried the spreadsheets to be honest with you, though i purchased them like almost a year ago. Myhousedeal is ok, most of the listings are overpriced or do not represent any sense from an investor point of you. What is interesting is that i do get some wholesale deals from my contacts with finders fee which i sometimes find at my housedeals without any fees. I havent bought any deal from the site however, but i think for like $200 a year its fine by me. It wont break my pockets.

I hope this helps!

Happy Investing 

Since you can hold onto it ( you bought it for a low price ) i would guess lowering the price if its been for more than 1 month on the market.

Staging and open houses wont do you any good after one month.

If you do not want to lower the price, try short term rents (airbnb, craigslist) and wait for a good offer to come.

I always like to put some bedlfowers and some plantation at the front. They will definitely be more eye catching and will give a good first impression

I am going to attend my first meeting with sams real estate club in 2 hours and was trying to find any helpful reviews from people who already attended his seminars or purchased any deals through them but with no luck.

I dont think i can rely on yelp reviews for such an investing thing.

@Steven Roffer Did you end up siging with them? and how was it?

Any feedback is hugely appreciated.

Thanks in advance!

@Adrien C. Thank you guys. I will consider upgrading to the VIP membership soon and see if it worth it or not.

$200 a year isnt that crazy money so will give it a shot and see what happens. Hopefully i will be able to secure a good deal in LA competitve market!

@Adrien C. are these listings usually FSBO's Adrien?