All Forum Posts by: Account Closed

Hi @Account Closed i control and have shares in  8 properties in Los Angeles right now i bought all of them with in the last 8 months so the West is good to live but if you want a positive cash flow you might have to look into up and coming neighborhoods like silver lake i purchase a triplex there in December was a fixer bought cash and gives 6.7% cap which is pretty good use the same strategy, in a loan putting 10% down my purchase price was 920k and i put into it 120k, 1.1M investment total after taxes in the area and doing management my self positive at assuming i took a loan at 3.85% for the 990,0000 ill still get about $567 positive cash flow and a ton of equity that i build i but the property cash, but your focusing on the cash flow think about appreciation don't think today, think 5 years from now. cash flow is not the most import, sure is cool to get some cash but not as cool as to get a 1,000,000 check in 10 years when all you did is waited and put 110,000 in. right ? 

I would start looking into 

La Mirada, Downey, Silver Lake, or anything the the unit price is about 400,000 or less tend to have bigger positive cash flow if thats what you looking for. 

Hi @Brian Compton Yes it sounds like something is fishi to me it might be to good of a deal. 

1) Get a contractor and check the major repair problems, roof, pluming and structure you don't want to get into a problem like that. 

2) are you gonna flip check how the market is in your area why is it been in market for months

3) if you have any questions feel free to ask 

how many investors here from North County San Diego,

Del Mar, Solana Beach, Encinitas, Rancho Santa Fe, San Marcos, Carlsbad, Oceanside.

I am new to Bp , not new to real estate moved back to san diego after 4 years in mexico working in the private equity sector in 16 months in san diego have done 3 deals and 11 flips so i am happy open a consulting firm and been doing great, i would love to meet you all and network and share experience and knowledge

Hi i  bought a Tape of properties from the bank and i am happy to say today i close escrow on last one what a good feeling the tape had total of 13 properties in Southern California, 5 in San Diego were i live even one in my little town of Solana Beach, so step

1) Getting them out, Cash for keys or litigation i preferred cash for keys everyday

2) the estimate and finding the right contractor i was lucky enough to have 2 contractors working on my 8 properties at the same time some in Orange and in SD, estimate i come from a developer family and been in this for a while so i got good and knowing the cost.

3) the right real estate agent well i didn't put all my eggs in the same basket i went and got 2 killer guys in San Diego, and myself i have a license also so between us with 0 dollars into marketing just with right pricing and todays market the properties sold in average of 11 days. it was awesome

4) i also do consulting for first time investors and private equity companies, and banks so i was busy if your going to buy bulk focus 100% cause 2 jobs is crazy.

@Dion Rivera i just see this, hope is not too late i am actually born and raised in Mexico city i work for one of the worlds largest Real estate Private equity firms, and sold real estate in Mexico all over for about 2 years. so let me know if i am of any help

Hi @Phi Bui I am from Carlsbad, I am kind of new to Bp, not new to REI, I have background in private equity real estate investing and Land Banking, and i own a consulting firm in Rancho Santa Fe now, I have don flips on residential, commercial and multifamily, so if I am of any help to you want to meet for coffee or anything i always love to help

Hello @Jake Thompson I am very busy traveling a lot but I will be open to a meeting I always love to help, I own I think is now shares in about 11 Multifamily complexes in the county and own out right about 4, residential condos is my main main game but, as I said I own some multifamily I have flip some and I have sold and consulted on many deals if I am of any help to you send me a inbox and we can meet. love to help.

Hi @Allende Hernandez, I flip about 3 houses per month and I give consulting to several investors, so just my guess I am in California with out any idea of the cost of labor in Jacksonville ill have to say, for 864 mid level finish I supposed you want, I cant see the kitchen but lets say everything is crap in it. lets say the mayor things will be.

1) kitchen 2,000 to 3,100 with appliances.

2) flooring 800

3) paint 750

4) exterior 1,000

5) bathroom 1,300

and lets hope it doesn't have roof and pluming damage

so lets just guess 6,500-8,000 worst case scenario 12,000 I am usually 95% accurate in guessing I always wish there was a way to make money just buy guessing stuff lol.

hope is helpfull

If I was you I would, try to see what you qualify for first, study see if there is any homes that might give you positive cash flow try, north county areas like Escondido and Oceanside tend to be more affordable but with good income rent. that's how I started first year bought 2 with 5% down loans, I got a tiny positive cash flow and grew my income and credit history I went with HML and did some flips and all in expensive San Diego no money to start, now I give HML and have consulting firm for first time investors and we have acquire over 230 properties all in the county with all and all is about the numbers. please fill free to ask me I could maybe guide you in the right way, I am not very active on bigger pockets but ill be on it this weekend.

Hi @Joe Manfredi I am just getting started in a 30 bedroom joint venture senior living and assisted living,

it is a very good business the down side I see is the high insurance cost and the management but the catch flows are great in California we have to get a special permit which is also costly, and the rehabbing the property to fit the seniors living standards, if they are fully running with permits ask for income statements what are the returns because of the high cost of maintaining such a property ask for

1) how many senior 1 per bedroom or share beds to increase cash but decrease desirability

2)  what they charge and what they get in return

3) do they have a CNA or nurse come and checks ?