All Forum Posts by: Matt Loeffler

This is a colleague of mine. Local property management company. 
https://www.expertpropertymanagement.com/

I've also been a partner for a year and have seen no results. Tom is constantly in and out of the hospital and barely ever responds. They have no account managers other than him. Seems like a very poorly run business. I saw several people have talked about legal action against LYL, has anyone done that and had luck. I'd really appreciate some guidance and I'm thinking that's my next step as well. Thanks!

Who here is active in the hotel business? I stumbled across a great opportunity while marketing for other asset classes. This property is 80+ rooms in a beautiful location right on the pacific ocean. Seller has very reasonable expectations. This is not an asset class I deal in and I'm not really looking to become a hospitality/hotel expert. I'd rather partner with someone who is an expert either on a wholesale deal (which I think would be handsome) or give me an equity position in your deal and you take it over. Seller is ready to roll!

Those kind of deals do exist but they are hard to find. You won't find them on the MLS or through a wholesaler most likely because the wholesaler will just jack up their fee and take all that profit. The only way is to find a deal directly with a seller which requires some direct marketing. Others might have more risk tolerance but for me to be interested right now, the deal would have to be really juicy. The good news is there are a lot fewer buyers to complete with right now so you might get lucky.

I've been flipping in Sacramento for 4 years. Also a realtor and contractor. I just got my last flip on the market yesterday and now I'm stopping. The good news is buyer demand has picked back up after the new year and we'll hopefully have a good buying season (Spring). Problem is by the time your flip is done (if you start now), the market could be stronger or weaker… there's all kind of data, factors, and opinions and nobody really knows what will happen. For me, that's too risky. If you can buy with low leverage (debt) and don't mind holding it as a rental if you can't sell for a profit then you can mitigate your risk and be ok. I think the better strategy right now is to BRRR because rental demand won't drop significantly and first-time buyers are being priced out of the market so they will need to rent, possibly forever.

Hi Abe, 

I'm currently renovating a duplex in Sacramento that would be a great house hack. One side is 4 bedrooms/2 baths and the other side is 2 bedrooms/2baths. It will be turn-key. The rents in the area are strong and demand is high so it will perform well. Let me know if you'd like to chat about it.

Matt

Hi @Andrew Pagan, 

I'm a realtor, investor, and contractor in the Sacramento area and am active with flips and BRRRs. When you go to refinance the property, the max a lender will give you on a cash-out refi is 80% of the ARV. Even with prices coming down recently, it's still almost impossible to get all of your money out of a BRRR in this area. Cash flow is even harder with the rising interest rates. If you're ok leaving some money in it after the refi then you can probably find something that will give a cash on cash return of 12-15% or better which is pretty good. I've been looking at multi-family properties lately for the higher income but it's still hard to make numbers pencil. You can probably find better numbers in more remote towns but the rental demand may not be as good. Honestly, if I were you, I'd wait a year and see where the market is at that point, you'll probably find better deals then. With prices falling and interest rates rising, BRRR will be very risky if you're just starting out. Feel free to message me, happy to chat more.

Matt

Hi Jeren, 

I'm a realtor, investor, and general contractor in Roseville. Let me if I can help. My go to for market rent research is rentometer.com. They give you some info for free and more info for like $100/yr. Your vacancy rates in Roseville/Rocklin would be pretty low and generally higher quality tenants however the tradeoff is a bit lower cash on cash return, etc.

Best, 

Matt