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All Forum Posts by: Simon C.

Simon C. has started 5 posts and replied 68 times.

Hi BP community. I'm seeking for a PM Company to manage 2 SFR out in Ontario CA. Any recommendations? Thanks ahead - Simon

Post: TURNKEY RENTAL FINALLY UNLOADED

Simon C.Posted
  • CA
  • Posts 71
  • Votes 18

@Lane Kawaoka like your thought of going passive. I'm curious though, you think an investor can be financially free in 4-7 years of passive investing? 

Post: Do you charge a late fee?

Simon C.Posted
  • CA
  • Posts 71
  • Votes 18

@Jon Schwartz I would! $50-$100 is fair. Late fee is important to show tenant that you are not messing around when it comes to late payments. The bank has no hesitation charging you a late fee for your mortgage and you shouldn't either. 

Post: Pre-qualification on loans

Simon C.Posted
  • CA
  • Posts 71
  • Votes 18

@Cristine M. It's important. First, it indicates how much you can qualify for and as such know the affordability. Second, it demonstrates to others that you are able to close. Good luck! Are you looking into acquiring this SFR for investment?

@Enrique Elizondo what City, what are the projected returns look? Can it cash flow given its a FHA loan? I'm looking from the perspective that its less down payment, and as such, your monthly loan payment is going to be high.

Post: Viable Returns in So Cal

Simon C.Posted
  • CA
  • Posts 71
  • Votes 18
Originally posted by @Pamela Sandberg:

@Simon C.: MF is tough in Phoenix right now. There is very little inventory in the 2-4 door market, so prices have been driven up, and rent hasn't quite kept up. It's hard to make them cash flow. That said, it can be done. A similar option that works well here is to get a property with a casita/in law suite/etc. If you rent them separately, this essentially functions as a duplex. You can also diversify your investment by getting a long term renter in the main house and STR in the guest house.

Happy to discuss the Phoenix market - let me know if you have questions!


Hi Pam. Thanks for sharing your insight! Noted about the little inventory with the 2-4 units. How about 30+ units?

Post: Viable Returns in So Cal

Simon C.Posted
  • CA
  • Posts 71
  • Votes 18

@Pamela Sandberg

Are you currently investing in multifamily? In Phoenix?

Post: Viable Returns in So Cal

Simon C.Posted
  • CA
  • Posts 71
  • Votes 18

@Todd Rasmussen

CONcUr!

Post: Viable Returns in So Cal

Simon C.Posted
  • CA
  • Posts 71
  • Votes 18

@Todd Rasmussen

Hi todd. yes please include me