All Forum Posts by: Mark Wood

@Serena Halterman

Thanks Serena! What day is this?

I work in the health care field as well and was looking into a similar strategy.  I was living in Torrance and wanted to house hack. I agree with Tammy that the numbers are much more favorable in Long Beach than the other beach cities.  I ended up buying a rental property and renting.  The numbers worked out better for me with this strategy. Mostly because the only properties that I could afford, I didn't feel comfortable with my fiance living there.

Hello bigger pockets community.  I'm interested in exploring the rental market in Northern Michigan.  I was wondering if anyone knew any investors in the Gaylord area.  My parents have a rental property and they haven't been actively investing.  I want to take it over, but want to do some research prior. 

Thank you!

Hello!  Thanks for posting!  Congrats!  Is this a buy and hold for you?  If so is it short term rentals or long term rentals?

Hey Chris, welcome to the South Bay! Buckingham investment group does a lot of education about multifamily in the south bay.

From a numbers standpoint there are more multifamily properties in the long Beach area. 

I used to live in Torrance and ended up moving to long Beach and bought a building in long Beach 

Cheers! 

It is possible for sure! What you'll run into is that the desirable areas or desirable houses will less likely have numbers that pan out so that you're paying nothing. What I found when I was trying to house hack is that I didn't really want to live in the areas where the numbers pan out. I've heard of other people who instead of buying a fourplex or triplex got an SFR, but rented out the rooms.

As previous posters mentioned, getting a diamond in the rough property in a nicer area and doing a value add may be your best bet. If you can find a place with under market rents, but rehab and get rents up you may be in a better situation.

My last piece of advice is, to also consider buying a cash flow property in another area.  Rent in LA.  Use the cash flow from the other property to pay as much of your rent as possible.   Cheers!

Me and my fiance bought our first condo in Downtown long beach.  We weren't looking to buy, but with the interest rates being so low we calculated that the mortgage payment was going to be pretty close to market rent. I know it's a bit speculative, but we got it about 20k under the appraisal value. I think values in Long Beach especially in DTLB, bixby knolls, belmont shores will either stay flat or rise.

I worked with buckingham investments to buy a 4plex in long beach in 2018.  They are really good about education, they participate in the local REIAs.  I learned a lot about Long Beach from them

https://www.buckinghaminvestme...

Hello,

My family has a house in Las Vegas in the 89120 zip code.  I guess a family friend has been living there, but it's in really bad shape with a potential roof problem.  It's definitely not in traditional sell it to a young family as their starter home mint condition.

I'm going out there in a couple of weekends to look at it.  

My question for my BP community is what's the best way to get a solid analysis on the strategy to sell it.  If I go to a realtor are they going to tell me to fix the roof and get it spiffy before they can let me know what the After repair value?   Should I just hire an appraisor to walk it with me, but will they best know what the repair costs will be and know good contractors?

I'm thinking the best person to go to would  be a good local fix and flipper.  They would best be able to tell me the rehab budget after repair value etc.  

I'm just wondering:

a) if anyone knows anyone good

b) How do I go about having them walk the property with me

Thanks for your help!

Pooja C.

https://ballotpedia.org/California_Proposition_10,...)

This website has a good summary of the issues

Hey Jonathan Taylor, were you able to get a property under contract yet?  I have my first property under contract right now and honestly I didn't do enough due diligence and hadn't thought about this proposition.  

I have the same questions as you and am wondering if I should pull out.