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All Forum Posts by: Sharon Tzib

Sharon Tzib has started 123 posts and replied 780 times.

Post: Greetings from Southern California!

Sharon TzibPosted
  • Real Estate Broker
  • Cypress, TX
  • Posts 807
  • Votes 457

Hey Matt! Welcome to BP. You've left Houston and I'll be arriving soon lol! Good luck to you.

Post: New Texas A&M grad working in Houston, TX

Sharon TzibPosted
  • Real Estate Broker
  • Cypress, TX
  • Posts 807
  • Votes 457

Welcome to BP Jacob! Good luck with your new venture!!

Post: Interested in Multi-family deals & SFR flipping in Houston market

Sharon TzibPosted
  • Real Estate Broker
  • Cypress, TX
  • Posts 807
  • Votes 457

Hi Gopal! Welcome to BP. We have a lot in common. I've been a SF buy & hold investor since 2000. Will be moving to Houston area in the next six months and wish to transition to MF. Keep me posted on your success.

Post: Finding off-market Multifamily Deals: In Detail!!

Sharon TzibPosted
  • Real Estate Broker
  • Cypress, TX
  • Posts 807
  • Votes 457

So @Dave Lamattina if these are off market properties, why would my realtor do this for me? What would be in it for them?

I certainly would plan on having them write the contract and run the escrow, so hopefully that would appease them that they'd be getting a commission. I'm moving to a new area and just establishing a relationship with a realtor. Once they see I'm a person of my word, I'm sure it will be fine. Just thinking the first time I ask them to do this, what I should say. Thanks!

Post: Finding off-market Multifamily Deals: In Detail!!

Sharon TzibPosted
  • Real Estate Broker
  • Cypress, TX
  • Posts 807
  • Votes 457

@Dave Lamattina how did you target those properties you mailed to? And how did you find the owner's information - tax records? Curious about the process you used. Thanks!

Post: Looking for Contacts in Houston

Sharon TzibPosted
  • Real Estate Broker
  • Cypress, TX
  • Posts 807
  • Votes 457

Welcome, Johnson! Are you looking for a SFH or MF agent?

Post: Hello from Houston!

Sharon TzibPosted
  • Real Estate Broker
  • Cypress, TX
  • Posts 807
  • Votes 457

Good luck, Dar, and welcome to BP!

Post: The best book to learn about buying apartment buildings?

Sharon TzibPosted
  • Real Estate Broker
  • Cypress, TX
  • Posts 807
  • Votes 457

@Michael Power thank you! She has a couple websites so I was going to the wrong one. Got it now :)

Post: Critique my first Deal in NM

Sharon TzibPosted
  • Real Estate Broker
  • Cypress, TX
  • Posts 807
  • Votes 457

Wow, the place looks like it's in very good shape from the pictures.

I agree with everything @Christopher Dumelle noted. 16% for maint/repairs on a home you're already putting $4500 into seems high. You should definitely have plenty of reserves - never a bad thing.

And get in the habit of always including PM fees even if you're doing it yourself because you just never know - if something happens to you and you can't attend to it any longer, you'll want to hire it out and still cash flow.

Hope the closing doesn't delay much longer.

Post: How to evaluate a rental property

Sharon TzibPosted
  • Real Estate Broker
  • Cypress, TX
  • Posts 807
  • Votes 457

Yeah, knowing what kind of building this is would be helpful. If this is in Sac, then at $45K annual income, I'd assume a 4 plex perhaps?

However, NOI does not include debt service, so if he gave you the expense number with that included, you need to back that out to get a true representation of cash flow.

Before you go any further, you really need to look at his operating statements and figure out what's going on. Maybe he pays all the utilities or something? That can be a killer sometimes. Let us know what you find out.