All Forum Posts by: Kevin P.

@Cornelius Charles @David Frost

Thank you both for your responses.  PM's sent.

Good Afternoon BP!

I've located a rehab deal in Oxnard and I am looking for a solid, investor-friendly GC to do estimates and manage the project.  Can any fellow BP'ers recommend anyone?  Thank you very much in advance!

Kevin P.

Hey There Fellow BP'ers! I hope everyone is doing well! I am dropping a line here to hopefully meet some like-minded individuals and spark up a conversation that will be conducive to potential deals. I would be interested in meeting with any wholesalers or agents who may have off-market and/or distressed properties they are looking to sell. I am particularly interested in multifamily, but I am also open to SFR. I currently own my primary residence but I am looking to make my first investment deal. So far my attempts with the MLS and the like have been futile so I am open to suggestions as well. Any help would be greatly appreciated.

Secondly, If there are any local rehabbers that would be open to me shadowing that would be amazing.  I would be willing to do whatever it takes to provide value, including working for free.  Please get back to me!

Regards,

Kevin P.

That is awesome @Kimberly T. Congratulations to you, your husband and your future son!  Much continued success to you all!

Thank you both very much for your input!  I am exploring your ideas in more depth so I can be sure to make an informed decision.  I welcome any additional feedback!

BR,

KP

Good Morning BP,

Thank you all for looking at this post! I am a buy and hold investor, looking at a quad in Sacramento (area code 95841) and the numbers look pretty good ($165 per door and 10.27% CoC at asking price.) Property is also HOA so capex, repairs and maintenance should be insignificant. I just had some questions for the more experienced investors, particularly in that area.

1. Property has been listed for about 5 months, asking 329,000.  If I decide to offer on this property, would it be out of line to come in 15-20% below asking price? (Needless to say the numbers are even more attractive with a considerable discount.)

2. The school districts don't seem so great according to GreatSchools and while the crime doesn't appear horrible, it also doesn't look great either.

3. What kind of vacancy should I be expecting in this area? I'm currently assuming 5% but I could be way off base with that as I don't live there.

Could any experienced investors provide insight into this situation?  This will be my first investment property and it absolutely MUST be a winner in order to set the tone for my future business.

Again, Thank you all for looking and I look forward to your responses!!

Best Regards,

Kevin P

Good Evening BP!

I am currently looking for multifamily deals in the Central Valley area of California.  Areas include Redding, Sacramento, Fresno, San Joaquin Valley and Bakersfield.

Primarily interested in quads or larger but am willing to flex if the deal is right.

Please DM me if you or anyone you know may be looking to sell property in the desired locations.  Thank you very much for reading, and I look forward to hearing your responses!

@James Lee I know I am a bit late to the party.  I am a newbie as well but I would just like to vouch for what a majority of others have been saying.  Cash is king so save save SAVE! As much as possible!  In the meantime, read as many books on the subject as you possibly can, hang out on BP, read the forums, watch the webinars and check out the podcasts.  As previously mentioned, Brandon Turner's books are an outstanding start.  I have both of them and so far they have been instrumental in creating a viable, long-term strategy.

@Jesse Peña - Thank you very much!

@David O. - Thank you!  My primary short-term goal is to conserve as much cash as possible and read as much as possible to prepare.  I would like to acquire my first property within the next year or two with minimum cash flow of $100 per door for par.  Longer-term goal is to continue acquiring deals until I surpass my primary income with passive income.

Thanks @Ali Boone!