All Forum Posts by: Nigel Ford

Dylan,  I actualy looked at the house on lanning as well and the agent sais it has a 1 bed each duplex in the back that is in very bad shape but still inhabited. Either way I want to drive up there and take a closer look with the agent if I can next weekend. I am a bit more drawn to a 2 bed unit because I heard they are more in demand through a recession, compared to the higher end and lower end units. Is that something I should take in account or should I just take what I can get that works now?  Thank you for all the helpful input, Nigel

     So I've recently found a duplex in Redding that I think could make sense for me to buy as my first deal if I arrange the numbers right. And like the book on rental property investing suggested I want to know if you guys think its solid or not. 

      It is a duplex with both units being 2 bed 1 bath and the agent said it needs some tlc. The seller is asking 195000 and the monthly rent total is 1625

Here is a link to the listing if you want to see more:

https://www.coldwellbanker.com/property/1078-Bond-...

I may have some investors to talk to about funding it if its good enough. 

Thanks, Nigel

Exactly what I thought about it and any other opportunities with a guru. their gonna take the bread and run, than they could say something like; you knew it was risky or you didn't have to trust me. Thanks Calvin

Ive just read his REI book that cost 8 bucks from a facebook add. It left me a bit uncertain about my current plan of finding a 2-4 unit building for my first deal. He sais that deals dont make sense under 16 units. Partly i think becouse a deal smaller than that would be managed by someone that doesent get paid enough of the income to do a good job? But than he sais never leverage more than 70% on a deal, which leaves someone in my position one option which is to invest in his $10000 minimum moneypool kind of thing. Becouse apparently he has access to the deals only the big guys can get.

  Makes me wonder, is it really worth it to start small?            

@Daniel Cardona

Hi Daniel, Highpoint looks like a great place for cashflow as far as i can tell. Such a huge contrast compared to the market here in California. Im currently looking for my first small multi family property that is close to Highpoint University. Let me know if you’d like to help me out. Thanks, Nigel

@Joe Solkiewicz

Any more info on the property like net operating income, cap rate, or anything else you have?

@Carson Wilcox

Im interested in seeing some more posts here because i am wondering the same thing. Sac seems like there’s lots of multis as far as ive seen.

Awsome! Thank you so much mike!

Hello Nigel here, I am looking for my first multifamily property to buy and rent out and I want to possibly go after forclosures, because they are below market value. I would like to know about the experiences you guys have had with them, and how you've found and bought them. I was told theirs a list that only someone with a license has access to. Others say they are all listed on the MLS, and others from those others said you need to go to the bank to find them. Than there's talk of the "courthouse steps". Any input from you guys on this stuff is highly appreciated.

Thank You, Nigel

Thank you very much for the visual, that makes it a little easier to get an idea of whats going on.