All Forum Posts by: Robert Musallam

@Puneet Sharma

There's no definitive way to say that in 6-9 months you'll be able to acquire a property for less than the market is asking for now. What you should be doing is identifying EXACTLY what you're looking for.

Example:

Duplex 

Between $250-300k

Cash on Cash at least 10%

CAP at least 8%

Whatever you want to qualify a property as a deal to you, then go and start analyzing deals to see if any of these meet your criteria. If they do, think about pulling the trigger. But analyze, analyze, analyze, that way you know a deal when you see it.

Best of luck!

@Ben Rice I agree with @Account Closed

@Ben Rice

I bought a 2/1 SFR in downtown SJ using a 3.5% loan. It had a large garage that I converted to a one bedroom apartment and I rented out the front unit. Not your traditional duplex but it worked out that way.

The process for a multi is much the same, except if there's any income from the second (third or fourth) unit the lender will give you 75% of the income to help you qualify for the property. 

Hey @Kiarra D. Welcome to BP!

I love the goal! Best of luck & keep us posted on your progress!

Hey @Pratish Halady

Welcome to BP! And congrats on closing on your first rental! You're definitely in the right place to grow your knowledge and your business! 

Best of luck to you moving forward!

Hey @Brad Verma

Welcome to BP! I like the long term goal.

Keep us posted on your progress & best of luck moving forward.

Welcome to BP @Alex Sloan

Congrats on moving! I've done the house hacking thing here in the bay - when it was possible. I think that's an awesome strategy!

Best of luck to you moving forward!

@Puneet Sharma 

Welcome to BP! Any particular reason you've selected multi family units and Sacramento? Either way, I think you'll find this community very welcoming and willing to help. 

Best of luck on your future investments.

Hey @Ather Rizvi

Welcome to BP!

Flipping is tough in this area, but not impossible. Cupertino is actually a decent place to find some deals considering the amount of houses that are in such bad shape just sitting on a gold mine.

Get engaged on this site, connect with the local investors and you'll be equipped with the information to get out and find a deal.

Best of luck and feel free to reach out if you need anything.

@Vincent Ballew It sounds like you're doing your homework. To further your knowledge, start analyzing 5+ deals. If you use Loopnet to search for a deal, some of the listings have Marketing Packages attached to the property. These include a full analysis done by the listing agent.

Try analyzing some properties that have the package, then compare your analysis to what the listing agents' analysis is. See where you forgot expenses or over/underestimated others. I know this sounds tedious, but I've been doing this for months now and I can honestly say it's helped me understand my market so much more now that I've seen how 10 different agents analyze utilities and other expenses.