All Forum Posts by: Sam M.

Thanks for the insights, @Nabil Suleiman! 

Has anyone been to the foreclosure auctions that take place at the Norwalk courthouse steps (although now they appear to be at the Doubletree Hotel in Norwalk)? If so, what was the experience like? Did you buy anything?

@Account Closed, I am only interested in value-add buy-and-hold. Why multifamily? I'm very keen on the notion of being able to recoup my capital through forced appreciation by increasing the NOI of a commercial MF property, the value of which is based on the income it generates rather than solely on market comparables.

To your point about the single family homes - namely subject-to properties - I do not have much familiarity with those to comment one way or another, but certainly not averse to learning more. My career and portfolio have revolved around MF. 

Seeking properties in the 5-20 unit range and would love your referrals to a multifamily real estate broker or two who operates in the A and B locations of Phoenix, Scottsdale, Tempe, Mesa. Thanks in advance! 

@Arianne L., it doesn't look like you mentioned the location/area in your original post. 

@Arianne L. Congrats on the recent success! May I ask where the 24 unit multifamily property you acquired is located? Was it acquired off-market? 

Congratulations on the acquisition. What submarket within Phoenix is this located in? 

Congratulation, @Justin Fraser! I'd like to know how you negotiated the deal. Without having past commercial multifamily experience, and seemingly entering a new market, how did you know what you were purchasing was a good deal? How did you know you would need about $300K in CapEx to bump up rents $200 p/unit? Were you seeking out multifamily opportunities in that market or did you only look into it once you were made aware of the deal? Were you entirely on your own during the negotiation period?

Thank you in advance for any input you can share. 

Seeking referrals for a property management company that can manage a mobile home park. Located in the Greater Los Angeles area and is comprised of about 200 homes. 

Thank you in advance! 

Regardless of what you do, I would consult with an attorney to make sure your traces are fully covered. Even sending the 60 day notice requires very diligent steps and procedures that need to be followed. Would be terrible if after the 60 days you find out that the tenant wasn't properly served and you'd have to start back from square one all over again. 

@JC Conchas, by default, all SFR in the city of LA are NON rent controlled: http://hcidla.lacity.org/RSO-Overview

@Account Closed, can I get your attorney referral as well? I have one who I've used in the past for eviction,  but would love to have a backup.