All Forum Posts by: Rick Snow

Hey Matt for rentals. As long as you can turn a profit after your debt service has been paid then you should be golden. Make sure you have a home warranty/insurance and a good tenant and you'll be fine. If you've got anything under contract in the pocket area DM me. I'll definitely take a look at it. Good luck out there. Rick

Hey @Matt Inouye if you're financing, 70% is a golden rule. 70 includes rehab. If your ARV is $570 a safe bet would be $399 all in. $513 all in is tight (not impossible) on a 570. Those margins are really set aside for seasoned investors who buy cash and can run multiple contingencies if something goes wrong.

Does anybody know any good GCs in the Reno/Sparks area? If so, DM me their info. 

Thanks team, 

Rick 

380 on a 440 is too tight. If it were 380 on a 440 and only 10k in rehab then maybe! 60k rehab anything can go wrong then your debt service eats up the profit. Also once you get to 400 you're looking at a different buyer profile. It might take longer to find a buyer, again eating up your profits. Don't be anxios about a deal. You can find yourself in a world of hurt. Good deals are out there. If you're not finding them then you're not networking well enough. Join a REIA or start one.

Rick 

Joanna. Welcome to BP. You're definitely going in the right direction. As a newbie you should find a seasoned investor and ask them what they need. Provide that need and they will mentor you. That's how you build value without becoming a burden. 

A 90% ARV is too high. Especially if you're financing. What's your goal? Flip? Rental?

Hey, does anybody know a good GC in the Reno/Sparks area? I may need to get some work done on a 100+ unit MF.  DM me with their info and I'll reach out.  

Cheers, 

Rick 

I'm already involved in several REI Meetups in Sacramento, but I'm interested in a meetup consisting primarily of BiggerPockets members. My goal is to talk real estate, learn more about how to use the BiggerPockets site and build connections through solid deals. If there isn't an official BP meetup in my area I will start one. Anyone have any feedback on this? Thanks all, Rick

Nice reply David 

Hello. I have property available for assignment in the Sacramento market. It's an East-Sac property in the Elmhurst district (known for it's festivities during the Holidays). I got it under contract at 330. It needs about 50K in rehab and I can provide addresses that we used to produce the ARV. DM me if you are interested and I can give you more details.

Happy Investing, 

Rick