All Forum Posts by: Tim Farmer

@David Faulkner Which side of Gaffney would you recommend?  Based on the coast line there, would you say West (Palos Verdes side) or East (closer to the port) side?

Thanks for the response @Gil Vaisman.  Are you buying properties with a vacant unit or two that you can fix up and rent for more or having to evict tenants before you can rehab, etc?

BP Community,

Has anyone has success in acquiring Multi-Family properties in the LA area that cash flow upon purchase?  How did you find these deals?  Am I going to have to suck it up and buy a property that operates at break even or a loss until I can raise rents or can I find cash flow gems?  Are there particular sub markets to focus on to give me a better chance without worrying about a buying in an unsafe area?

The market is so hot right now, most properties are being sold based on proforma or have unrealistic asking prices.  I have cash and the desire to purchase, but having trouble finding good deals.  Any advice or thoughts on this market would be appreciated!

Thanks @Michael S. excited to get my education on!

What type of creative seller financing structures have BP members used to get a deal done?  I'm in Los Angeles and I think the only way I'm going to be able to put together a deal that cash flows will be to do some sort of seller financing/installment setup.  Can someone share the details of the structure/terms of their creative deals?  

I've also heard about outlining several financing options when submitting an offer (i.e. 1 traditional financing, 2 creative/seller financing options) where you show the value of seller financing to the seller (quicker close, tax savings of spreading income over several years, interest earned, etc.).  Has anyone done this?  Would love to see an example if so (with sensitive info redacted of course).  Thanks!

Hey there BP community!  New member to the site here, hope to meet some like-minded people and learn more about the business!