All Forum Posts by: Sam Magi

Hi Justin,

Thank you for your reply and advice. Is it the same for commercial (more than 5 units)? 

Hi,

I am an investor from CA. Cant find any value in CA so looking for a couple 4 plex's around Mesa. Anyone have any advice on 4plex's around Mesa area?

HI Jerry,

Thank you for your advise. I wanted to do a quick flip or hold on if it did not sell. Had to rush in to close as my friend had to leave the country. After some advice and thoughts i tried to buy time and not rush in. My friend decided to rent it out instead as he did not have time on his hand. Win some lose some,

Tom, Lindval thank you for your inputs. Mike, Fred thank you for your information. I have PM you about more info. 

Jonh T. Thank you for your input. I will email you with my information. It would be great to speak to somone who knows the area. 

@Casey Miles. You are right about financing vs cash. Unfortunately my friend has to leave in 10 days. Trying to close this deal with traditional financing will not work. The only was i get this done quick is make the cash payout to the bank and own it. 

I am banking on quick appreciation knowing current houses are seliing for $250k. However, i dont mind holding on to it for 8+ years. 

Mike, thanks for your reply. The Zip is 77384. I dont know the area very well since i live in CA. It looks like its close to the woodlands. 

Buying my second investment property and just like the first one looking for some advice from my fellow BP members!! Thank you in advance for this portal it has been a great help to me. 

Property is 3/2 SFH one story. 2000 sqft , built 2013 in Conroe, TX . Trying to buy it for all Cash for 201,496/ (current loan). A friend of mine has to leave the country for job issues.

Down payment: $201,496

Current Rents: $1800 -$2000/ month

GSI: $21600 (low) $24000 (high)

Expenses: Vacancy @5% = $1080 (low) $1200 high

Taxes: $5625/-

Insurance: $1100/-

No home warranty since Builders warranty is valid until 2023.

Utilities: $2340/-

HOA: 660/-

Maintenance: 1000/-

Property Management: $2160/-  (i am in CA so will have to find some mgmt company)

Net Income: $7295 (low) $9575 (high)

ROI is 4-5% without accounting for dep.

Its hard to find anything in this market with decent ROI. Is this a good buy and hold investment?

JMartin it will be great to catch up on things once again. Thanks for organizing this. I look forward to meeting up with everyone once again.

@J Martin this was a great success. To have so many people show up is always great. Learnt so much just talking to so many people who have been doing this for so long. Thank you for organizing!
@Minh L. Thank you for sharing your success stories. It was a pleasure meeting you
@Joey nice meeting you as well. Best wishes in the split business venture. Do keep in touch if you have any property in the Hayward/bay area
@Amit M. Thank you very much for your advice on the purchase. I look forward to our next meet up so i we can talk more about your success stories.
@Denise and @Chris all the best with the property. I will keep in touch if i know someone looking for residential property in Oak.

Thank you for organizing this. I will be there!! Looking forward to meeting fellow BP members.