All Forum Posts by: Kyle Mccaw

The firms below are referred to me by a trusted investor:

Delta G Construction Services

Steve Alvarado / Charlie Guzman
www.DeltaGConstruction.com

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CD Innovations

Christian Weddborn

I would review your contract. We do not like tenants and owners to communicate. Nothing good ever comes of it. But if the property is vacant then it is reasonable for an owner to visit their own property.

1) most likely no, the price is too high. If it can rent for $1,200/month, I like to get it below $120,000. But every market is different. If the sales comps are higher than $144k it may still be a deal.

2) Yes, at least in Texas you can.

3) The tenant has a current lease that you have to honor. When it is up for renewal you can go to $1,200. 

Can anyone give me their personal experience with the REI Guard claim process.

Was the claim processed in a profession manner?

How long did it take for them to process?

Did  they pay out fairly?

SFR tenant tend to stay multiple years, bother the owner less, and are general more financially stable people.

4-plex tenants are similar to apartment tenants. They stay 1-2 years on average. But we do have some tenants that have lived in the same unit for MANY years. If you decide to purchase a 4-plex make sure you get a greater rent to purchase price ratio than a single family. You will have more maintenance, calls, and turn over.

Looks like a good plan. I see you are in California. You may want to look into additional markets. I am not an expert on Dearborn, MI, but strong economy is not the first thin that comes to mind. 

All agents claim to sell investment properties. I've heard from an industry expect that less than 1% of agents have ever sold an investment property in their whole career. You need to focus on agents that own investment properties. Depending on your investment plan, Lifestyles Unlimited may be a good fit for you. They understand the buy, hold and trade up model.

Talk to a local lender. You may have to season your property prior to the cash out. In my market, Dallas Fort Worth, Hard money is faster to rate/term refi than a traditional cash out refi.

Sounds like a deal by the numbers. The part you may need to think about is the neighborhood. The numbers you are using are typically in war zones in my market, Dallas Fort Worth. Also, you need to know how you plan to manage this deal. Low end properties usually have tenants that can drive a person crazy. Lastly, the condition is important. Maintenance expense are often higher and take a much larger percent of your income than with a middle income home. That said....I would likely buy it.

Sounds like a fun project.