All Forum Posts by: Samuel Dunlap

 Thank you, Linda. This answers my question.

In a situation where the owner occupies one unit of a 4plex and property taxes exceed $10k, is there an option to deduct more than the limit? i.e. if the owner-occupied portion is 40% of the square footage of the property and the remaining rentals account for 60%, can 60% of the total property tax paid for the year be deducted, even if it surpasses $10k? Thank you

Hello,

      I have recently been looking at multi family in the Prospect Hill/Woodlawn Lake area of San Antonio. While I do not live in San Antonio and have only visited a few times, I understand this to be a bit of a rougher neighborhood. I invest in “other side of the tracks” neighborhoods in San Diego and have had success, but wanted to dig in a little further on this one. Does anybody know if this is a no go "warzone" type neighborhood?

Basic tenant requirements currently are 600+ credit score, 3x rent in gross income, no evictions. Is this achievable in this neighborhood or will it have a real impact on occupancy?

Any general thoughts you have on the tenant pool here would be much appreciated (i.e. would you attract a young professional if the property was appealing). Thank you so much.

Sam Dunlap

This is great info, Mike. Much appreciated. I’ve been working probate leads here in San Diego for some time and your words are right on point…lot of time for sometimes little to no return. But that’s the game we play. 
I’m hoping to find more success in Phoenix, but as you stated, the old fashioned way may be my best bet. Thanks again for your input.

Hello BP Community,

Unless I am mistaken, Maricopa County (Phoenix, AZ) does not post their probate court records online, unless you can provide specific names or case numbers. I am hoping to view all cases among ranges of dates (i.e 2 week increments). At minimum, I am looking for the name of the deceased, a name of the personal rep/heir, and a name/contact for the attorney involved. 

If anyone can verify that Maricopa does not publish this data online, that would be very much appreciated. Furthermore, if anyone knows of a third party that provides the data or is interested in periodically gathering the data for me from the county courthouse (for a monetary reward), please reach out. Thank you. 

Sam

Thanks for the quality responses. The answer seems to be pretty definitive on this one…which brings me to my next question: for those with success in doing so, how are you finding a contractor who is able to give at least a fairly definitive answer that they’ll be available should you lock down a deal in the near future? Most are booked for months and I can’t say I blame them, but those that aren’t are hesitant to indicate if they’ll be available in the short term.

My only worry is that I’ll have the deal and get stuck with holding costs while I sort through contractors who appeared free a week or two prior.

I know completing deals remedies this situation, but for a first timer with no prior business with the GC, seems to be a crapshoot. 

 

Hello BP Community,

I've invested in multifam for a while and completed moderate renovations, but never under a time crunch that a traditional BRRRR strategy would call for. I'm curious to know at what stage do those with experience recommend locating the GC that will undertake the reno? I've seen conflicting information that it's wise to lock one on prior to having a deal (through general questions to find a good fit) and I've also seen it's fairly easy and efficient to vet them once a deal is found and they can actually submit bids. Is there a right answer here? Appreciate your feedback.

Sam

Hi Nathaniel,

The COE can be obtained at ebenefits.va.gov. If you are already working with a lender, they usually can obtain one on your behalf, if you desire. I began investing with the VA Loan and it is without a doubt the greatest gift given to servicemembers, if used correctly. If your goal is to use it for investment purposes, it can expedite your efforts by years, especially in a high barrier to entry market. Eventually, you'll exhaust the entitlement, but if used right, you'll be sitting on multiple cash-flowing doors and some equity (not to mention a bit of REI clout) prior to coming to that point. Your foot is then in the door for bigger, non-VA deals.