All Forum Posts by: MJ Barnett

 Thanks Joe!

Jonathan,

Welcome!!

MJ

 Steve,

I sent you a colleague request. I hope that's what you meant about P/M??

I seem to be drowning in land development deals and I don't have any true developers besides one in my rolodex. Any advice on how to find more developers would be much appreciated!!! 

#California #LosAngeles #Valley #Orange #Beach

 The best comp was a 2 unit that had 2beds 1 bath and an additional 1/1 that rented roughly the same price and sold $638,000 and was updated.

Changing it back into a house and removing the commercial space as a flip you are still looking at the $600,000 market based on comps of a 3/2 and not having to worry about some of the legal issues with the City for the commercial space which included a handicap ramp being built and a handicap space.

 Yea. It's a good one. My client's wife flew in to see it and she was scared cause it looked like it needed a lot of work. Termite was under $2,000 and the fixes aren't bad at all if you have your own contractor. Rents are low and in high traffic area.

I would split the utilities into two meters and do required updates and open up the bedrooms upstairs to make 2 large bedrooms and baths to be legal and charge higher rent.

MJ

Welcome!!

There's a great property on the market in Pasadena for $450,000 mixed use with $3,000 current rent. Needs work though. There are deals out there just gotta think outside the box.

MJ

Artem,

Welcome!!

Britney,

Do you have a year lease? She must give you more time if it is and possibly relocation assistance if your in an area that has rent control. However if you signed a month to month then she can give you 30 day notice.

Sorry to hear about your situation!

-MJ

Steve,

Welcome! Check out the podcasts. Tons of great info.

MJ