All Forum Posts by: Joe Yobaccio

@Ned Carey, in CA, the 1% rule isn't possible, much less 1-3%.   The closer I get to 1%, the worse the areas are.   But, I do not want to invest out of state where I can't travel to see the property nor do I have a team or boots anywhere that justifies buying out of State. I've looked up and down my entire state and even if I focus on lease optios or subject to's, the cash flow has to be there for me. What is your thought on this?

@Jeff Zimmerman, I had some additional coversations last night and today, with investors who do lease options, but they  live in different parts of the U.S.  They still target places using the 1% rule and so I was doing research and came across a few Cities that it is close, but not quite that.  Bakersfield may be the best of that list.  Fresno was about comparable to Highland/San Bernardino and Hemet, both closer to me.  Do you have any thoughts on markets that are closer to the 1% rule?  Visalia area may be a thought. Do you do lease options or rentals?

Thank you!@Jeff Zimmerman   will look around those areas (online for now) and see if anything makes sense to look at.

@Jeff Zimmerman.  Thank you!   I have a friend on the outskirts of Fresno. He indicated there may be good and bad parts of Fresno.  Are there any geo borders that you go by, such as East of the City, etc?   I know some places where people will use a freeway and say north of a certain freeway is good and south of it, no.  

Thanks, @Vince Mayer. I have a lot of strategies, but wanted to make sure I got feedback from those who claim Lease Options can be done now, before considering those now or not.  Most of the strategies I can do will need to be things that involve seller cooperation like seller fiancing or lease option or selling subject to.  Not because I can't bring in money, but because I can't get a loan nor would I want to at today's prices.   Sub to or lease options seem to have a lot of things I like about them.  

@David Jarvi, great answer! Thank you!.  If you cashflow $250/,o, isn't that new sewer tax goint to wipe out much of that? Is that a concern?  Also, are you cashflowing $250 with only a little down or are you having to put a lot down?

Wholesaling lease options sounds so good until you ask key market questions.  In my market, house sell fast at or over list and rents are impossible to find.  To get a lease and then sublease, you need to motivation from a seller or landlord.  Why would a seller or landlord let me lease to sublease when the market it so hot?   @Joseph Bodek won't post his coaching posts without blocking questions or comments and @Joe Mccall, also won't reply to questions like this. They both seem to be selling the same thing.  So, if they claim this is a great method, please explain why any landlord or seller would do this with the current market being so good?

@Tom Murray, Who is renting in Morongo Basin?  Are you getting 1 year leases there from casino workers or other industry?  Are rents high enough and prices low enough for the cash flow?  Are employees buying there and commuting?  I'm not too far to get there and buy property, so I'm intrigued. 

Are any CA investors looking to buy multi family units in CA before November and the elections?  Prop 10 and prop 5 seem to be potentially harmful to investors, yet a mentor said go find property while other investors are sitting. I do not agree with her.  Why do I want to do all that and get an apartment under contract and find no one will fund it until after the elections? 

@Account Closed on the example you gave in Paradise Valley with the $500 per door and getting $20,000 down with a $50,000 investment, are you acquiring the properties all cash for that or using the $50,000 as part of a down payment or option money and then taking title subject to so that you only have $50k invested?