All Forum Posts by: Oron Subayi

Very informative @Wes Blackwell..Thanks!

I'm not going to buy it..I asked as part of my learning process, so i'll know on what I'm looking at : )

Hi @Wes Blackwell

So the main thing is that these listings I found are usually duplexes, but still have these commercial info

This is why I don't understand why : )

I mean I guess you buy something which is part of a bigger complex- For example one duplex I remember that it was part of 8 units I think

But the guy advertised only separate duplexes - Should this affect my financing?

And what about these income\expenses mentioned in the listing? Are they even relevant?

Thanks! : )

Thanks a lot @Wes Blackwell!

It was helpful..just 2 things to say here

1. Regarding the property tax going up, i just see it in the county website\zillow..it always increases LOL and I thought that when people say "tax" they mean property tax

2. Mortgage - I use online calculators, but I remove the home insurance & property tax from the calculation since I verify it separately - I just need to know how much the mortgage alone will cost me each month, so I think numbers are OK there

3. Commercial Info - I still didn't understand what it means and how it affects me. For example the apartment here is just a duplex, I didn't know it is a commercial property..I actually don't think it is a commercial property

I just wonder what do I do when I see this commercial info area in realtor.com. How does it affect me as an investor?

Thanks! : ) 

Thanks all! : )

I'll contact everyone!

Didn't find any up to date discussion on the search, so I'm opening this one

Hi all : )

I'm analyzing properties for my first deal and I would love to have recommendations for attorney & CPA mainly for tax savings - to choose & build the right company structure in order to protect assets and save tax

Even though I will probably invest in other states, I live in CA therefore I need people who are familiar with the tough laws in CA

Thanks a lot! : )

Thanks @Tim Herman

But as I said..I did the math and it doesn't seem to be a good deal, so my main question is when would you guys say like "ok..maybe if I change this and that, it can be a good deal" and when do you say "it doesn't worth it"?

And bunch of other questions LOL

P.S.

I don't think having a PRO worth it..it took me 1h to make an excel with the basic stuff and I'll probably extend it as I understand more

Thanks! : )

Hi All : )

Haven't posted something for a long time

Back then I was a guy wanted to invest outside of his country, but a lot of things changed and I'm living in the states now : ) San Diego, CA (unfortunately LOL), so now it is investing out of my state

I have tons of questions and I would like to have your guidance!

So I read somewhere here that Phoenix AZ might be a nice place to start investing and I'm using realtor.com to look around since I know nothing on any area here in the US..too big for me (Israel..you can understand why :) )

I found the following duplex:

https://www.realtor.com/realestateandhomes-detail/...

According to some basic analysis I've done, hopefully I did it right, I don't think it is a good deal

The data I pulled off this listing:

1. Price - $175K
2. $750 * 2 rent
3. $1028 tax (I think this is too much according to https://mcassessor.maricopa.gov/mcs.php?q=30076006... - Assessed LPV is $5,782)
4. $1200 trash, $500 water/sewer, $800 insurance - I assume all are annually, but I should ask
5. The owner should take care of landscaping - currently no idea how much should it cost
6. No gas info, no pics of the 2 units and it is written that tenants should not be disturbed since they are not aware of the sale - So for me, it is like I can't really send an inspector
7. 5% vacancy

My questions:

1. Do you have any recommendations on how can I tell the trend of the area? So according to the official county records, they estimate the FCV to be lower next year. Looking for some guidance on how can I tell if the rent will go down and stuff like that
2. What about situations where there are not a lot of "for rent" listing on an area..What is the best way to estimate the rent?
3. When should I ask myself "Should I make it a deal?" - So I think this is not a deal, but when should I put efforts and change the numbers so it will be a deal and when should I say "it doesn't worth my time"? For example what if this duplex has no mortgage and I can have seller financing with 0 down payment? That might make it a deal..but should I even try run these numbers?
4. I didn't understand online mortgage calculators - they all include property tax + homeowner insurance and I thought they are separate bills (like you see in this property's details) - How should I estimate my mortgage payment?
5. I read that property taxes are constantly increasing, I guess it is because most of the time the property's value is increasing - How do you guys handle this situation when it comes to cash flow?
6. Current listing has also something called "commercial info" containing "Net Operating Income" & "Operating Expenses" - What are these?

I think that's it LOL

Thanks! : )

Thanks a lot guys

A lot of info to digest : )

@Saul L. I totally agree that RE is a local market, but ours is limited and expensive

I will probably start with our country to gain experience, but in our case I don't think it is a good idea to stay in local market

@Tom Ott - I didn't encounter turnkey, and I'll start reading about it

Thanks @Zane McLaughlin and @Bill Gulley

Well I'm still in learning phase, and my questions were just after this part in Brandon's beginners course here in BP, and some googling

As a beginner it is hard for me to extract the answers from yours, so I'll try to sum the answers according to my questions:

1. So I'm correct - the loan is actually changing the note on the asset under the buyer's name

2. This kind of deal is mainly for houses that need no\minor rehab or any other one time payment. And if the assets do need some treatment, I'll better save cash in my bank account for this

3. Couldn't understand the answer to that question

Just to be clear, I'm not talking about a situation where the seller want "seller financing" deal, hence the price is higher than usual

I'm talking about a regular deal where the suggestion of "seller financing" is mine, and we already agreed about a price that both sides are happy with

So after setting a price that both sided are happy with, why can't I use this method without an interest? The seller will still get the money he wants

Thanks : )