All Forum Posts by: Michael Arreola

Thank you Max for the input. After reading several horror stories about property management I now know that I also need to do my due diligence about the property management company itself. Being that they're mostly out of state for me, I'd hate to have to put out a fire from so far away. 

hello bp

So I am a new investor who is working on my cash position right now. I should be in a "comfortable" cash position early next year. My question is should my first property be a turnkey? I understand that I won't be getting the best COC return as if I were to find my own deal but I just really want to get started. I live in northern California so to get a buy and hold property will be a lot harder than some other markets. I also understand that I should do my due diligence before purchasing a property from turnkey providers. What are some of the benefits that you guys have seen from turnkey and even some of the negative things? Any advice or recommendations would be appreciated. Happy investing.

Thank you!

Michael Arreola

Hello Steven D. When I say house hacking I'm referring to living in a home (in my case it's a 4 bed 2 bath) and renting out the rest of the rooms. In turn this minimizes my overall living expenses while the tenants pay down the mortgage.

Hello bp,

So I just listened to another awesome BP podcast encouraging me to finally write this post so here goes!

I have to admit it is very overwhelming to first get started in real estate inventing if you do not have a clear direction on where it is you want to go. I believe buy and holds is the right area of real estate for me because cash flow is king. 

I'm trying my best to educate myself in the market of the south bay area and even other markets in my area. But without over analyzing the situation my main goal is to better educate myself in real estate as a whole and everything else that comes with it. I'm scheduled to take several accounting classes and doing lots of webinars to help get me up to speed.

I am already a home owner and I'm house hacking in the south bay area (San Jose). So I have access to my HELOC but I need to know everything about what I'm getting myself into before jumping the gun.

So my questions if you choose to answer....

What areas of real estate should a newbie stick to and is there any areas that should be avoided?

What is the best way to set up business entities or should I even worry about that right now?

What other tools are available to analyze my local and other markets? 

I am currently reading Think an Grow Rich and it is blowing my mind. If anyone has any recommendations I'd love to hear them.

Thank you of reading my post and happy house hunting to all.

Michael Arreola

Thank you all for the feedback. I have asked the tenant for the information of the landlord but they are refusing to give it to me. Luckily one of my other neighbors has had to deal with this particular owner so I now have the address and I am going to send him a letter explaining everything. There do have two dogs so I will definitely put up some type of barrier to prevent them from coming over.

Hello bp!

I am happy to say that this is my first post and am very excited to finally be apart of bigger pockets. unfortunately the reason for this post is not the best reason to reach out.

So I own a home and am currently renting out 3 rooms. I'm in the process of slowly renovating the place. I wanted to start with the fence of the property. I live in the bay area and share a fence with 4 neighbors but only the rear and the left side need to be replaced. On the rear side i share about 50 feet with one neighbor whom is the owner, and I share about 15 feet with another neighbor who is a renter. 

I have approached the renter several times about contacting the land lord but have not received any notifications from the owner or the renter. I am willing to pay for the 15 foot section that we share but I am hesitant about getting a contractor without the owner of the property being properly informed by me. I would hate to get such a large area of fence done and still have 15 feet that is the original fence.

I have talked to my neighbors about the situation and no one had any information on the owner. If anyone has any suggestions please let me know for I have already hired someone. 

Thank you for your time.

when all else fails consult a lawyer. Batter safe than sorry.