All Forum Posts by: Max Reynolds

Amy - To confirm, the tenant has given you notice that he will be moving out but you also want to send him a move-out notice? 

Hey BP Community - I am an active real estate investor in San Diego and looking to connect with new wholesalers. If you are a wholesaler in San Diego, reach out to me and I can fill you in on my buy-box!

Look forward to connecting.

Hey BP Community - I am an active real estate investor in San Diego and looking to connect with new wholesalers. If you are a wholesaler in San Diego, reach out to me and I can fill you in on my buy-box!

Look forward to connecting.

Hey BP Community - I am an active real estate investor in San Diego and looking to connect with new wholesalers. If you are a wholesaler in San Diego, reach out to me and I can fill you in on my buy-box!

Look forward to connecting,

Max Reynolds

Any recommendations for practice test books/courses to prep for the licensing test following completion of the course? Thanks!

For an out-of-state owner, hiring a PM is essential. Especially in CA where there are so many new laws and regulations to keep up with. If I were interviewing PM's, my main questions would be:

1 - Do they owner rental property themselves? Without owning rental property personally, it is difficult to truly understand how to minimize costs and maximize your investment.

2 - Who do you deal with? Is the individual you meet the BD salesman who passes you off to some inexperienced PM that just started working there or are they involved in the day to day?

3 - What do all of their fees consist of? More often PM's will charge a lower monthly fee which looks attractive but have a bunch of "junk fees" for renewals, property inspections, maintenance mark ups, etc.

If your property is in San Diego, happy to connect.

Hi Audrey - you purchased at a ripe time and are starting to see the fruits of your investment! I would want to better understand the current condition of your condo and what work you plan to do before selling. Completing some renovations does not always make sense economically (price you put in not worth the price you get out). There are two steps you should take here:

1 - Speak with an investor friendly agent/property manager who can help you complete a property analysis to determine current value, recommend renovations (if any), and if renovated the after repair value (ARV).

2 - Speak with a lender to discuss loan options. You could potentially take out a 2nd loan to pay for renovations and would want to make sure you will qualify for the loan on the new property/what that loan would look like.

Happy to connect you with the above!

Hey Lauren - love to hear that you guys have the gears spinning and are ready to embark on your real estate journey! Your return on equity is very low based on those numbers provided so yes, some action needs to take place whether it be adding square footage, new construction, or 1031ing. My recommendation would be speaking with a local agent/property manager who has personal experience with investing in San Diego real estate and can complete a property analysis for you to determine current value, highest and best-use, and what your options are. If necessary, then connect you with an architect, builder, lender, or your CPA to discuss tax implications. Something else to consider is your current financial position as construction/renovations requires capital. 

@Lesley Cabrera I would highly recommend that you speak with a commercial real estate broker(s) who specializes in industrial properties for the market your property is in. While you might be able to sell the building to the tenant at X price, a specialist might tell you that the building is worth Y and it should be taken to market or shopped around to the top Buyers to achieve the highest sales price. In my professional opinion, appraisers don't know values as well as good brokers who are on the frontlines doing deals every day and a Broker Price Opinion (BPO) is more valuable in this scenario. Industrial is a small market, top brokers know who is looking for what and how much they are willing pay. BPO's can be done free when brokers are pitching a for sale listing or you can pay for one, which is typically around $1K. While you might pay a commission using a broker, the potential additional profit could be well worth it. If you would like any referrals, I am happy to provide contact info for top industrial brokers in SD or LA. I was in the commercial brokerage business for 8 years and know who the top dogs are.

Investors / Flippers - do you install wireless security systems at your projects during/after construction? Do you leave for Buyers or take with you to your next project? Any set recommendations? Thanks!