All Forum Posts by: Lena Wang

Hi Guys, I'm in the process of purchasing a property in Fresno, CA. Escrow opened already. Would like to know recommendations for a contractor? 

House is old (1912) and needs work inside and out. 

Hi, I am wondering if anyone can recommend or share what they use for book keeping for an investor? Functions needed: 

1. invoicing

2. Book keeping: keeping track of expenses/revenue

I hear Quickbooks is widely used. But want to hear if there are any others I should look into? 

Hi, @Brian Reynolds, Love your map. looking at your map, the path of progress area is a good area to invest, but some of the other areas are not yet mapped to a/b/c/d yet...

hi @Patrick McCandless I would love to get on the list as well. Please PM me for email address. Looking for MFs (4plex)

Hi, 

Came across this lender: http://www.atlasfinancialllc.com/

Wanted to know if anyone has ever heard of them or used them? 

HI! Im also interested in Fresno, MFs only though. What was the meet up everyone is talking about? Is it in the Bay area (I reside in the bay area) Let me know if anyone can share the link? 

Thanks!!

@Paul Choi Yea i plugged numbers in the calc and got similar numbers. Cap rate was like 11%. I have to do research on the area, neighborhood, etc. 

I THINK it's a C neighborhood. If it's a D i'm not going to buy there. THANKS!

Hi, I have a deal and was wondering if someone can give me some advice. 

This is a 6 unit commercial building in Cleveland, OH. IGNORE the fact that this probably won't appreciate much. Assume buyer looking for CASH FLOW. Assume that buyer has little risk of not able to pay the balloon sum. 

Deal or no deal? @J. Martin, @Paul Choi, @Andrey Y. Others please also feel free to comment. 

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The seller purchased this almost entirely vacant and highly distressed asset in cash in 2016 and has had X company handling the management and renovations since. Now that the project is almost entirely complete the seller to recoup his cash and collect the interest on the mortgage he is holding. 

Sell price: 

$234,900

HIGHLIGHTS:

• Mortgage Terms
• 35% down payment
• Amortized over 30 years with a 7 year balloon
• 6.5% interest
• Rent Roll
• Unit 1 3 beds /1 bath. (Over 1k sq ft) Renovation under way. Market rent $750/mo
• Unit 2 1 bed / 1 bath. Currently leased $535/mo
• Unit 3 1 bed / 1 bath. Currently leased $495/mo
• Unit 4 3 beds / 1 bath. Currently leased $725/mo
• Unit 5 2 beds / 1 bath. Currently leased $625/mo
• Unit 6 Retail. Currently leased by a Barbershop for 5 years. The business owner is making
• renovations to the unit and the rent is tiered. The rent will top out at $700/mo
• Total Gross Rent $3,830/mo
• Highlights
• Each unit is separately metered for gas and electric (Tenants pay)
• Over $100,000 worth of work performed by Property Company representing the seller since 2016. Including a brand new $50,000 roof in 2017
• Current property taxes $4,377/year
• Owner pays water & sewer
• As this was a complete renovation there are no historical financials

HI, I am an investor looking into MFs. I am looking at Bay area, Sac, and Fresno. I just spoke with an agent in Sac he says that you can't cash flow in A/B areas? You can break even in C and make money in D? Assuming 20% down? Any thoughts on this? 

Yea i agree with what you said on the residential part, but i think commercial many ppl look to rehab it, increase value through increasing rent, decreasing cost, thus increasing NOI, thus value. LIke for 5+ units many ppl will buy prop that's under value and needs work, fix it up, rent it out, sell or hold. Same goes with office buildings. I think this is just in addition to what you said.

Thanks for explanation.