All Forum Posts by: Keyur S.

@Chet That's is correct. 

@Tyler R. thanks. 

Here's a great value-add deal for you investors and flippers

San Carlos, the City of Good Living, is extremely desirable and in great demand due to its proximity to employers like Google, Facebook and Oracle. Subject property is a short 5 minute to downtown San Carlos, a big plus...

Looking for a seasoned investor/flipper who can convert the current 1230 sqft into 2600 sqft. Here are some numbers:

• Purchase price: $1.25M
• Estimated Rehab: $375K (1300 sf addition and 1230 sf remodel, plus architect plans and fees) (Tear down is also an option but will obviously take longer and yield higher returns)
• Estimated resale value: $2.15M
• Comps: 2668 Thornhill Dr, SAN CARLOS, CA 94070. Built in 1949 and remodeled with addition in 2010 with a total Sqft of 2553. Sold Feb 2016 for $2.17M. 

Do your research, this is a GREAT deal!.

Additional info (address, pro forma, lien releases, etc) available upon request- proof of funds required

Note:

Property must be sold CASH. Hard money is okay, but might not get title insurance as property is being bought via IRS judicial sale auction. Tax title services will most likely provide the title insurance after closing as needed. Rest assured, title is clear except for a 30K lien that can be paid off at closing or later (Sale price includes lien payoff). Property is subject to no contingencies and is SOLD AS IS. There are no showings for this property and must close by Wednesday, May 18th. Buyer pays all fees and transfer tax. Buyer must be able to close escrow within 10 days. No daisy chains and/or lengthy wholesalers please. 

^^^^no broker or agent commissions offered. This is a wholesale deal^^^^^

This is your chance to buy and live in prestigious Saratoga,CA. Great deal will not last. 

Here are some high level numbers for the single family home

• Home Sqft - 2132
• Lot size 10,399 ( has a pool!)
• 4 bed/2.5 baths
• Asking Price 1,499,000 (Cash only)
• Schools Prospect High 
• Close to freeways 280 and 85 
• Close to major shopping centers including Westgate mall
• Quiet residential street

Here are your options..

- Teardown and put in a new 3200 sq home worth $2.7M+ (plenty of comps in the neighborhood)
- Remodel and add 500sf for total of 2632sf for a home worth $2.2M

Only one showing available on Tuesday Feb 9. 
Non refundable Deposit of 50K due the same day

Escrow open with First American Title

Must close before 2/29

If you are interested please send a Private message. This is a cash only deal so be prepared to show your bank statement with enough funds to close. Possession will be available 60 days after closing per seller contingencies. Address will be release after prequalifying buyer. 

@Uyenchi Ho  Perhaps you might want to get a mentor involved or even one of your cash buyers. He/she will be able to hep you evaluate the numbers and you will not be worried whether you will be stuck with the property as you will already have a potential buyer involved in the transaction.

PS: Good luck!

@Derek Carroll Where are you funding 10% CAP rate properties? Is there a pattern you see?

@Jeremy Tillotson Lets connect. Would love to learn more about Fort Wayne

@Jen Kurtz  Lets connect and chat. I do like Ohio and its prospects

@Blake Burgess @Michael Limina: How do these areas get impacted with hurricanes etc? For a long distance investor like myself, should I be worried about it?

@Serge S. Eventually I will look at IRR, but I have to start somewhere to do an apples to apples comparison and CAP rate seems like a good number to compare properties against one another. I am looking closer to home too, like Sacramento, Folsom, etc...Thanks!

Since I can't get any more conventional loans, I am trying to venture in multi family investing to add to my monthly cash-flow. I am looking to get around a 10% CAP or better however it seems that most people are very happy with the 3-4% CAP rate they get here in SF Bay-area.

Any suggestions on markets/metro areas where I can get a 10%+ CAP rate with an investment of around $2M or less?

I am also on the lookout for brokers and lenders for that market so if you are willing to work with a newbie commercial investor, do reach out!

thanks in advance!

Keyur

Hello Joe

I wanted to provide a quick update in my findings. I have reached out to 5 insurance brokers and so far have received quotes from safeco and allied.

Allied quite is almost double of safeco for similar coverage

I haven't yet found a broker that is aware of any insurance carrier that offers a single deductible across different properties. I'll keep looking

Thanks again

Keyur

Hi Charles

SJREI is a great local REIA.

Www.sjrei.net

Good luck