All Forum Posts by: Robert Seltzer

We own properties in Sacramento and Elk Grove and have successfully bought of the MLS and working with a realtor. Its not necessarily a question of having a list of properties, though that is a reasonable approach. It is more about having a very clear view of what you want to purchase and executing very quickly when you see the opportunity. Take the time to get comfortable with what you want to purchase so when it appears on the MLS you can quickly make a competitive offer to get into the deal ideally in the first position, but also second if your offer is not selected.

With respect to competitive, my view is that I am not competing with other investors. More often it is a family interested in moving to a SFH. The last deal I closed my offer was third in line and I was able to close the deal as the first two fell out for various reasons.

I have purchased properties in Spring and I am a fan of that area, Katy and Tomball.  The area has good schools, but interestingly enough the data I have pulled shows that for a rental easy freeway access, rather than school quality is the driver for the rent.  

With respect to League City, what zip codes correspond to that area?   

I can't comment on the analytic model used by BofA, but I do have a viewpoint on the health of the Houston market. We own two SFH in Spring we closed on these properties at the end of December. It took a bit longer to find tenants of good quality for these properties. I would attribute part of this delay to the time of of year, but I am also observing that price reductions have occurred on a significant number of properties as we head into the spring selling cycle.

I have looked at many properties of this type in the Sacramento area. The properties I looked at, the fourplexs in particular, sold for over $300K. And even recent properties that were priced lower to generate demand went for prices in this range as well. So why have I chosen to stay with SFH at this point? Every time I looked at these properties and ran the numbers, taking a generous reserve based upon the age of the units, I couldn't convince myself that I was getting a CAPX that was acceptable. And it was easy to define a scenario that was likely to occur that would lead to negative cash flow.

That being said, I do think balancing out my portfolio with multi-family is still the right move.   If the numbers work across a range of expected outcomes then I would be a buyer too.

Robert

I am interested in SFR and potentially a small apartment building. At the moment, my portfolio of California properties consists of only SFRs. Thank you!

Robert

I am a new investor to the Houston market.   have investments in California and I am working to build out a team of professionals that I can work with in Houston.  I will be making my first trip to the area the 8th to the 11th of November.  I I would appreciate direct contacts and recommendations for the following:  1) Insurance agent, 2) Property management, 3) Contractors and 4) Handyman services.  

Robert

I am seeking a mortgage broker in TX. for SFR and small apartment building investments. I am based in CA so I am out of state. Thank you!

Robert

I have been investment in SFH in California for 2.5years. I am interested in both expanding this part of my portfolio and adding multi-family properties. Of even greater interest is identifying resources and individuals that can help me complete investments outside of California in less capital intensive real estate markets. Thank you!