All Forum Posts by: Travis Grossman

We owned it for about 3 years and decided to sell. The neighborhood became pretty rough, and after a few rounds of new tenants decided it was time to part ways. It was A LOT to take on for our first investment! We learned a ton and are excited to continue investing. We ended up making a little money and had enough cash flow throughout to be relatively flush.

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Welcome to BP:)

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Thank you guys for your insight!

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Originally posted by @Fred Heller:

Hi Travis,

The $3025 rental income figure is too high because you will have to move into one of the units for an FHA loan. Unless you're planning to pay yourself rent.

I love Sacramento by the way.

Good luck!

Yeah that wouldn't make sense, I was using the previous rent info to calc it. Didn't factor myself out ha whoops!

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Hey guys, my girlfriend and I are putting our first offer in on our first buy and I would love your thoughts/insights. Located in Sacramento CA, in foot hill farms. 4 plex Built 1965 Remodeled in 2014 Lot sq ft. 8202 Each building = about 935 sq ft each All 4 are rented out. 1@750 1@825 1@800 and 1@650. Very strange leasing by owner/PM. 3 leases will be up by June, the 4th was just signed for 1 year. Annual utilities 3247 Annual ins. 1751 Taxes 2785 HOA= 250 (which handle, tree maintenance,street maintenance, garbage, private security.) List price 327500 3025 rental income as it sits. We are pre approved for an fha loan at 4.125% at 5% down. Need anything more? We are hoping to begin our investment journey with buy and holds with at least 100$ cash flow a month. We both have full time jobs, so if problems occur with tenants, we will most likely look at hiring a Property management. Thank you!

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Thank you for the post

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I am thankful for BP to opening my eyes to a community that cares about growing and helping each other.

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What market are you looking into?

Will you being involved in a hardware store help with the Rehab? Are you and your partner planning on doing all the work yourself?

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Hi @Taylor Comer great to have another Sacramento Newbie so close by

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Originally posted by @Jake Weir:

Welcome @Travis Grossman! You may have heard some discuss owner-occupied multi-family housing. This is a way a number of people jump in to rentals. Some things to start thinking about:

Areas, Pricing, and Rents

-Start to familiarize yourself with the quality of different areas. Its not difficult to get the "feel" of different neighborhoods. Websites like Redfin.com and www.metrolistpro.com will give you more accurate info than Zillow, but you'll get the complete picture from an MLS search with a RE agent as rents will usually be listed in the hidden details of the listing.

-I've been using rentometer.com for a back-of-the-napkin rental survey to see the variety of rental rates for an area.

-Biggerpockets has a file sharing area. Look for this under the "Resources" then "File Place". Sort by downloads to see what is popular. I think the one I like was posted by Brandon Turner.

-Start playing in the calculator so you get a feel for what a cash flowing property looks like and you are ready to jump on a deal when you see one.

Happy Investing!

Wow thank you for these tips! I will absolutely check them out. I appreciate you taking the time to spread some knowledge and say hello

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All Forum Posts by: Travis Grossman

Travis Grossman has started 2 posts and replied 19 times.

Post: Making moves on our first buy

Post: New member from California

Post: Making moves on our first buy

Post: Making moves on our first buy

Post: Making moves on our first buy

Post: J Scott's Starting Out FAQ

Post: I Am Thankful for Biggerpockets Because...

Post: First Investment Property looking for some extra insight

Post: Sacramento Newbie!

Post: Newcomer from Sacramento, California