Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Lee Bell

Lee Bell has started 1 posts and replied 608 times.

Post: To catch a pot smoker

Lee BellPosted
  • Real Estate Appraiser
  • Isabella lake, CA
  • Posts 628
  • Votes 490

Seems like much ado about nothing.
Or if you prefer, a Nothing Burger. Take it outside.
Are they hosting a Shel Silverstein Smoke Off?

If so I warn you.

Beware of being the roller, when there's nothing left to roll.  ;>)

Post: Unit smells like WEED

Lee BellPosted
  • Real Estate Appraiser
  • Isabella lake, CA
  • Posts 628
  • Votes 490
If it smells like skunk, it is probably good stuff.
Legal in CA and other states.

If I was the tenant I'd tell you,
Dave's not here, man. ;>)

Post: Investing "Rules" and Times You Violated them and Made Money!

Lee BellPosted
  • Real Estate Appraiser
  • Isabella lake, CA
  • Posts 628
  • Votes 490

@Amit M.

I always heard the guys with the gold make the rules.

Guess who the rules favor. :rolleyes:

Post: Investing "Rules" and Times You Violated them and Made Money!

Lee BellPosted
  • Real Estate Appraiser
  • Isabella lake, CA
  • Posts 628
  • Votes 490

The rules and regs of Man are one thing.

The laws of physics are another. :>)

Post: What to do about bad tenant neighbors!?

Lee BellPosted
  • Real Estate Appraiser
  • Isabella lake, CA
  • Posts 628
  • Votes 490

@Dennis M.

That might work for you, but some of us hate exposing that butt crack to spackle, don't like rap, or malt liquor. I say blast them with Metallica! Get some real beer. LOL.

And complain to the HOA and whoever else, be a big pita.

Post: The shadiest buyer and attorney in Miami

Lee BellPosted
  • Real Estate Appraiser
  • Isabella lake, CA
  • Posts 628
  • Votes 490

I don't think it was random. They were looking for a target.

Cancel and never speak to them again.

Post: Cost to replace kitchen faucet?

Lee BellPosted
  • Real Estate Appraiser
  • Isabella lake, CA
  • Posts 628
  • Votes 490

Wow. Good bonus in order for sure.

Post: Two words that don't go together: California and Cashflow

Lee BellPosted
  • Real Estate Appraiser
  • Isabella lake, CA
  • Posts 628
  • Votes 490

UNLESS you can scale the cash flow doors to a significant number.

There are a lot of medium to large apartment buildings here. I don't see their numbers, but they gotta cash flow or why own them? This is close to me.

For sale Camelot Apartments, a value-add 20-unit garden-style building located in the San Fernando Valley neighborhood of Reseda. The property is priced well below replacement cost at $272 per square foot and offers immediate upside as the rents are below market and the building is not rent controlled. At the asking price of $5,200,000, the current cap rate is 4.65% with a GRM of 12.6. We estimate that if a buyer were to spend roughly $20,000 per unit in upgrades, the buyer would achieve a 5.21% cap rate "all in", including the renovation costs. Built in 1987, the property features a desirable unit mix of 18 two-bedroom units and two one-bedroom units averaging almost 900 square feet per unit. The building has gated garage parking with at least one space per bedroom. Units are separately metered for gas and electricity and feature central heat and air conditioning.


















UNITS BEDSBATHSGARAGE FURNISHED?ACTUAL RENTTOTAL RENT PRO FORMA
1:211Unfurnished$1,580$2,650$3,160













2:1822Unfurnished$1,950$31,260$35,200



Post: 4 Unit Gut Rehab Chicago

Lee BellPosted
  • Real Estate Appraiser
  • Isabella lake, CA
  • Posts 628
  • Votes 490

Looks like the gut is already better than 1/2 done.

Post: Is this worth my time???

Lee BellPosted
  • Real Estate Appraiser
  • Isabella lake, CA
  • Posts 628
  • Votes 490

If you don't try, you'll never know how it might have gone.

Can you afford the paper, ink, and stamps? Try it.