All Forum Posts by: Tajh Walker

 Thanks! :)

 Thanks! :)

 No, I'm saying the typical rents within a 1-3 mile radius of the property range between $1000-1300 for a 3 bed 2 bath home.  But, yes I will essentially acquire a property with 100% occupancy with tenants locked into those rents for one year.  

I agree, thank you...

Michele, the average rents in the area are $1000-1300. The current rents are as follows unit A $575 and unit B $700 (total=$1275). Given my loan the taxes are roughly $380 (PMI, Hazard, taxes, prop. ins.). Middle to lower class community. No major aesthetic problems in the community, some homes are well kept some aren't. Neighborhood I'd say is a 6 (1-10 scale). I haven't meet the tenants nor seen the interior of the property yet.

@Michele Fischer Average rents in the area are $1000-1300. The current rents are as follows, unit A $575 and unit B $700 (total=$1275). Given my loan the taxes and insurance are roughly $380/m (PMI, Hazard, taxes, prop. ins.). Lower middle to lower class community. No major aesthetic problems in the community, some homes are well kept some aren't. Neighborhood I'd say is a 6 (1-10 scale). I haven't meet the tenants nor seen the interior of the property yet.

Hello BP,

So I have been anxious to pull the trigger on my first deal for some time now. I’d like some advice or even some experiences given my situation. The property details are explained below.

I reside in SD California looking to invest in a rental property in the Inland Empire area. The property is in the Inland Empire, Eastern Riverside County.

• $150,000 (asking price)
• Multifamily Duplex
• 2 bed, 2 bath ea. Unit
• 1474 sq. ft.
• 7,405 lot sq. ft.
• built in 1950

Renovations:

• new interior and exterior paint
• dual panned windows.
• hard wood floors
• “Well maintained” (haven’t viewed property yet)

I will be using an FHA loan from a private lender to finance the property and would like to get a personal loan from the bank to finance the money down. I would like to have no money down. Both units are occupied and the owner just signed a new yearlong lease for both units. The rents total less than 1% of the asking price (~.85%). Not too sexy if you ask me.

The numbers don't look that good according to the 1% rule and 50% rule. I believe it's due to the type of financing I am pursuing. My PITI, insurance, and taxes seem higher because of the financing I am choosing. However, my funds are limited and I don't have many other financing options. The appreciation seems good given the location of property and community potential. However, I do not want to bank on this given what I have heard regarding wise investments.

I hope this was enough information to get an idea of what I’m working with. If not please ask for more. My question is this, is this a wise investment given the property information, financing, potential cash flow, ect.? WHAT ARE YOUR THOUGHTS?

My hope is to improve the value of the property over time as an on site landlord as well as gradually increase the rent to increase cash flow potential. Unfortunately, the numbers seem like I won’t be in a positive cash flow situation during the term of the current tenants lease (1 year).  Seems like I may have to contribute slightly to compensate until I can increase the rents or gain some equity.  Is it worth it...?  Is my finance option wise given my situation? 

Hi Everyone,

So I have been learning a taking small steps to acquire my first wholesale deal.  I have constructed a website and begun marking for both buyers and sellers.  I need to know where I can get a California Residential Real Estate Property Contract or who I can get one from?  Also, more importantly, how to fill it out properly prior to meeting with sellers and buyers and how to add out-clauses to it?  I'm definitely not going to get very far without this documentation.  Any and all guidance is greatly appreciated.  Also, I'm looking for a detailed explanation.  I have no idea how to go about this and I want to do it correctly and accurately.  Thanks in advance!     

Thank you all for your feedback...! 

Hi All,

I have been a fan of the bigger pockets podcast for some time now.  I have listened to it passively for too long and am taking the steps to get the ball rolling.  I am a recent college graduate in the SD, Ca area looking to begin my real estate journey.  I have enjoyed listening to Josh and Brandon and the information and experience they share as well as all the BP guests.  I am excited to learn from you all and begin to create financial freedom. 

My goal in real estate investing is to ultimately get 100 units with $200 cash flow.  My short term goal is just to get started, make a deal, something!  I have two questions to throw out there.  I want to enter the buy and hold game ASAP, however I need more available liquid cash, or up front funding.  I have been researching whole sale real estate and believe this may be a wise way to begin to acquire the cash that I need to begin the process.  Any thoughts on this process?  

Most of the properties here in Ca are very pricey for a first time buyer. The primary loan recommended to me are FHA given I am a first time buyer. My goal is to have no money down on my first property. Although FHA is 3.5%, in CA, this may still yield a hefty up front credit card balance for a first buy, given my market in Ca. This is why wholesaling looks appealing to begin with in order to acquire some of that initial cash. I've also been eye-balling the Az market as well give it's only 3 hours east. Please share thoughts, guidance, word-of-wisdom...