All Forum Posts by: Josh Malgieri

Hello,

I’d like to know more about the property. I am a property owner that lives in Sebastopol. Thanks -Josh

Hey Everyone thanks for the feedback. 

@Mark Fletcher Wow what a great first deal! Those numbers are solid. I am trying to get this exchange done and then I'm interested in SFR deals. I have a friend that purchased a 3/2 for 35k and invested 60k. He is expecting a rental rate of 1600 which I thought was pretty good. I'd love to talk more about the wholesale inventory you'll have access to.

Hello BP Community 

I will be doing a road trip through Tennessee from June 27th though July 8th looking for multifamily properties. Starting in Clarksville, Chattanooga, Knoxville and Johnson City. I'm looking for property with a  strong cash on cash return (10% plus) using a 25% to 30% down payment. I welcome suggestions for other areas I have not listed. Here are some details on what I'm looking for:

- Multifamily or portfolio of residential

- Sales price: Up to $750,000 (I'm doing a 1031 exchange (or reverse exchange) on a California rental property    so I need a replacement property of $575,000 or more

- Timeline for purchase: Need to enter escrow by Oct 7th at the latest

- Class: A, B or C neighborhoods with a sales price under 800,000. 

- Condition: Turnkey or Value add. (I'm a contractor so projects do not scare me as long as the lender is on      board)

I briefly drove through these areas about 2 months ago and have have been doing online research since. Seems like Chattanooga and Knoxville are more likely to appreciate with value and rents but Clarksville and Johnson City may cashflow better. In regards to a B- property I'd like to know ease of filling vacancies, vacancy rates, Turnover time, etc.  I would appreciate any insight from the BP community. Also, Any referrals for real estate agents are welcomed. Thanks in advance!

@Justin Windham Thanks for the warm welcome as well as the explanation of resources. I'll make sure to check them out.

Hello BP community, I'm curious if anyone has experience with SFR new construction costs in Sonoma County. I'm considering purchasing a lot in Coffee Park, Larkfield or Fountaingrove areas and building a SFR between 1400sf and 2500sf. Perhaps including an attached ADU. The home would be 2 story to save on cost. I have managed about 20 remodels however I don't have experience with new construction. I also have most sub contractors available so labor is not a problem for me. Many of these lots had an existing home that burned in the 2017 fire and have reduced permit fees. Any info from anyone who has built from the ground up would be greatly appreciated. Thanks!