All Forum Posts by: Mark Silva

Hi James, I live and work in the Modesto area as a realtor with a few holds myself. Let me know if you need any help

Hi, I'm also from a Modesto and have been working in this area for years as a realtor and investor. Let me know if you ever need any help. Welcome to BP!

Hi Andrew, 

Just sent you a colleague request and would love to help you out in the Central Valley.

Which utilities are you including in your operating expenses? I'm guessing you're talking water, sewer, and trash which is common for the area. If so, I think you can get that number down a bit too.  

The numbers don't look bad but keep in mind there will always be closing costs that will affect your cash on cash return and you'll want to have some inspections on the property too to avoid any surprises. Also, you can assume a 5% vacancy rate in your analysis ($165/month). Were you planning on making any repairs when acquiring the property? You may want to calculate for that just in case and also holding costs if those units aren't already occupied or you don't think the tenants will be staying. 

If you can get the purcahse price down I think this deal could work. I would look at how many days on the market this property has and possibly make an offer to see how motivated the seller is to get rid of this property. 

Finally, I would be cautious around certain parts of Prescott estates there are some places that I would stay away from but there are also some good rental areas. If you're ever in the area let me know and I can show you around. 

Hi Daniel, I'm a long time Modesto resident and am curious what area this property is in? You want to make sure that this property isn't in a war zone. Let me know if you need any help I also have a four-plex here in Modesto.

Welcome to BP @Mohamad Suleiman

Modesto can be a good place to find some rentals if you know where to look. Let me know if I can help you out I've lived in the area for 20+ years.

Hello BP,

My family and I own a four-plex free and clear and have been thinking of opening a line of credit. We will use this line to acquire other buy and hold investments (maybe even a flip or two).

After purchasing a property using the LOC our intention is to refinance the acquired property to a 30year fixed and pay off the LOC.

What are the pros/cons to this method?