All Forum Posts by: Ken Cooper

@Richard Dunlop

I agree, if I were relying on REI, this would not work. My wife and I both work in the Film Industry. This is where we have to be to do what we do. Yes the margins are small, but I am also going to be living in the property. I could not invest the 218k in Detroit, because then I would not have a place to live. I am aware, and a bit scared the, yes, I will be on the hook for 1 million dollars. I still think it is a good move.

Ken

I will try to make it.  Just getting back from a month long job out of the country, so I may have some things to take care of.  Especially since I went into escrow no a triplex while i was in Fiji.  I hope I can be there to  get some advice on this purchase from everyone. 

@Aaron Mazzrillo Thanks, Aaron, I hope that one day I can stand in front of this property and have as great of a story.  

Ill look up Dr. Schumacher"s book.  

BTW, I got a lot of inspiration from your podcast.  

Thank you,

Ken

@Richard Dunlop I believe that the market forces that are driving the Southern California market are strong , and will continue to be for...... well, as it turns out I don't have a crystal ball.  

I have lived in this area for 10 years, and have not seen any properties have to deal with long term vacancies.

Thanks for your input,

Ken

@Account Closed We have asked for credits for the roof, and some other issues that have come up in the home inspection.  I believe that the units are metered separately.  Good point I will have to double check on that.

Ken

@Steve KarpThanks Steve,

We will be in small positive number, without taking in to account capex, vacancy...etc.  However we will be living there, and have to factor  in those advantages.  

The education I am sure will be useful down the road, and the relationships that we build will be invaluable.  

Ken

@Shannon Wright Thanks for your input Shannon.

@David Varvaro You are right, you can not really compare the South Bay market to other parts of the country. 

We are buying it for a couple of reasons.  Our current place doesn't have much outdoor space, we would gain that with this property.  Schools are a big factor. We live in Playa Del Rey now, and the schools are horrible.  As you know the South Bay has great schools.  

I don't know that I would say that I am banking on appreciation, but more feel that in doing the updates and work need to the house that we can force some appreciation. Looking at the forces that are affecting this market, I do expect the property to continue to gain value.  

The property in West of Aviation, and South of MB Blvd.  

Thanks for your input,

Ken

@Nick C. We are looking at it as more of a residence, with 3k that someone else is putting into our mortgage.  I should also have mentioned that the unit that we will occupy would also rent for 2k if we were to move out.  

Jake,

California real estate is crazy.  In this area 1.1 is ( i think) a good deal.  Yes, the payment is being calculated because of rents collected.  Yes we have considered that we will now be sharing roofs, walls, etc. with tenants.  Yes, 60 sq ft is minimal.  However, to my wife that means a closet.  If you are married, you know what that means.  

We would live in one unit, unit two rents for 1800, unit three for 1200.

Ken