All Forum Posts by: Tanner Marsey

Higher end has softened down in Southern California for sure. Maybe the same up your way? Did you guys cut corners at all on the flip? People aren’t going to spend 1.2 million on typical flip if they can buy the same down the street that hasn’t been flipped but is nicely updated. Obviously if everything was done right then that does not apply. Can get away with quick flips on the lower end but not a million plus. Drop that price even more in order to sell. We’re in the summer swing when people are looking to buy and it hasn’t sold. softening high end market and people are unsure about when/if a down turn is coming. Do what ya gotta do to sell it. Good luck!

You bought this property in ca as an investment I assume. If you sell it now.... sounds like it was a good investment for ya. It all depends on your goal. Make the move that aligns most with your future goals. Sell it.

I replied earlier in a hurry and before reading others’ comments. One piece of advice, don’t listen to the people that don’t live/invest here or some other high priced, appreciation market. The guys chasing 150 bucks a door in the south love to tell you how bad of an investment it is. It’s a different ball game here.

Find me some long term, buy and hold CA investors and see how many of them regret it....ZERO

Long term buy and hold- expect negative cash flow in the short term. Lucky to break even. Obviously there are exceptions. Rents will go up eventually, appreciation will most likely happen, your mortgage will be paid down by the renters. You gotta look at these buy and holds 15-20 years down the road. Not next month like the mid west and the south.

Flips- great money can be made. Just make sure you can do them quickly and buy them at the right price. A slight market shift could kill your margins.

Competition is high. People are willing to pay market price pretty much all day long as long as it’s even close to worth it.

Good luck. Sacramento area is actually probably one of the better parts of the states to be purchasing at the moment. If you can pick up a few properties and hold on for the long haul you’ll be sitting pretty in 20+ years.

You can find data on pretty much anything out there to support whatever viewpoint you want. Obviously you don’t want to pick a market that has a ton of red flags but every market has positives and negatives. Look into them, analyze them and figure out what is going to have an impact on your bottom line. You can do all the analytics you want and it might pay off. It could be totally wrong. Spots that everyone would have glanced right over 15 years ago are thriving today! Austin, Dallas, Atlanta, Boise, Vegas, Portland..... they have all boomed. I’m trying to find the next city that’s gonna take off.... just like everyone else. Good luck! Don’t over think it too much!

Eh. Depends where you guys invest but SFR split four ways seems a bit..... excessive. My suggestion, if you need a partner, find one. Buy a few single family homes or a multi family unit and go from there.

Buy yourself a plane ticket.

Drive the neighborhood morning, noon and night. Go to a local PD station. Ask about the area/neighborhood. Go out in and around the area you’re thinking about purchasing. Talk to the people you come across. They’ll give you the best advice. It blows my mind that people are willing to spend a good chunk of change on a piece of property that they will be tied to for, probably, years to come but they don’t want to spend a weekend and a few hundred bucks checking it out. (Not saying this is your situation). Also, look at the establishments in and around the property. Starbucks, Trader Joe’s, targets, Whole Foods, corporate gyms, chain restaurants. (Bjs, lazy dog, CPK, islands, Cheesecake Factory, P.F. Chang’s.) these types of restaurants generally don’t operate in the crime ridden, hood areas. And beyond all those indicators.... listen to your gut and use common sense.

Not all “rough neighborhoods” are bad. There are lots of good people in those neighborhoods. Hard working. Honest. Great tenants. Screen appropriately. Coulda let a lot of money walk. Maybe not.... never know. Don’t worry about it though. On to the next one.

This deal has A LOT of red flags! That’s okay. Trial by fire. Now you know for the next one. Good luck!

Such a killer area. I’d say go for it. If the market shifts of the timing is wrong you can always rent it.