All Forum Posts by: J. Martin

Hi Mitch , and welcome to BP! I’m a ‘fix and hold’ investor from the Bay Area in CA, and loving it! But you’ll find a variety of every type of investor on the site, and everyone is amazingly helpful. Some pointers for you: The "Learn" link across the top navigation bar has lots of great info, and so do BP members! You can click on the ‘vote’ button if you like someone's post or is helpful, and there are ‘awards’ to earn on your profile. And you can tag people by typing @ before you type their name, then clicking their name at the bottom of the message box. Welcome to the site, and good luck in everything!

Welcome Janice . There are a lot of super helpful people and great advice on this site! I’m a ‘fix and hold’ investor from the Bay Area in CA, and loving it! A lot of others doing flips, wholesaling, notes, everything.. A few tips..

You can tag people by typing @ before you type their name, then clicking their name when it pops up at the bottom of the message box. You can click on the ‘vote’ button if you like someone's post or is helpful, and there are ‘awards’ to earn on your profile. The "Learn" link across the top navigation bar has lots of great info, and most importantly, the BP members! Welcome to BP, and good luck on your investments!

Hi Josh , and welcome to BP! I’m a ‘fix and hold’ investor from the Bay Area in CA, and loving it! But you’ll find a variety of every type of investor on the site, and everyone is amazingly helpful. Some pointers for you: The "Learn" link across the top navigation bar has lots of great info, and so do BP members! You can click on the ‘vote’ button if you like someone's post or is helpful, and there are ‘awards’ to earn on your profile. And you can tag people by typing @ before you type their name, then clicking their name at the bottom of the message box. Welcome to the site, and good luck in everything!

It sounds like it might stay in the back of your mind until you get it done, so why don't you just do it for your own peace of mind? You can say "we just want to come take a look around, make sure there are no pipes leaking, no moisture from condensation in bathrooms or around windows, and that everything is in good working order for your use, and our eventual sale of the house" (if they already know your plans).

Especially if you have any suspicions.. It can't hurt and won't take much time. Just schedule it with them so it's not too much of an inconvenience for either of you..

I forgot to add that I have gross rents at almost $60k/yr on my 4plex, so the utility expense doesn't eat into the cash flow as much as some of the lower-rent areas..

I have thought about the cost/benefit of this, but have 1 big water heater for 4 units right now. The cost really isn't that much ($1500-2K/yr) if you then subtract the lower rent or higher vacancy you'll get without including utilities, some tenants who don't pay their bill, and you having to pick it up in the future (or in some areas, you then have to keep the bill in your name - not the tenant's - in the future), and the costs of getting it installed, separating pipes, paying city fees, (and getting 4 water heaters & space in my case), just didn't make sense..

@Drew Vukov I don't know all the details regarding the 5/10 and how it is split among two investors. But it will show up on both your credit reports. One suggestion is that you could alternate who takes the loan, then make your partnership agreement state that both are responsible, and have heavy equity dilution for someone who doesn't pay their share (or even equity dilution of all deals to tie everything together). That way, both have a strong incentive, even though they are not on the note. And you avoid the potential for an earlier end to those sweet 30yr rates!

Hi @David Lee ,

The way I was able to be successful setting up a local meetup in my area was to post a bunch of local "keywords" that got other local BP member's attention.

For example, post a bunch of local cities on this forum (especially bigger cities), and some local counties. Also, tag anyone you know from the area, or search for cities on the forum search or member search and invite some people. You can also check meetup.com or search for a local REIA group online.

I'm sure you'll find something between all that.. Good luck!

ps. I have mostly 2/1's, with a 3/1.5, and wish I had a studio and a 1br too..

But people tend to stay on the smaller side out here because it's much more expensive. Not many offices as extra rooms, or not fully utilized space.. (and kids sharing rooms).

Hi @James Syed ,

So we meet again!

Many investors like different size units in larger buildings because they are easier to fill/market with who is coming in. Even with my small 4plex and SFR's, I always get asked, "Do you have a 3br also?" or "I'm just looking for a 1br for now." or "my sister is looking for a bigger place also." or "I've been living in your building in the 2br for 2 years and like it, but my son is getting older. Do you have a 3br available also?"

You should definitely look at what the construction was like, and whether or not it is a sub-par conversion from a different building. I just posted about all the great info about unit sizes and other info on city-data.com

See how the unit mix compares to the average unit mix in a city.. Or how it compares to the demand today for bigger or smaller units based on household size and % renters on the website.. Good luck!