All Forum Posts by: Tyler Turpin

Some people are scared of the rent control in parts of Los Angeles like where I am in San Pedro. I haven't had issues with it yet. I like to think that it weeds out some of the big league investors. Multi families in San Pedro sit for a while before selling giving you that little extra help when it comes to negotiation. Also, there is going to be a major rehab to the port's o call area. It is speculation but I think it may increase home values in the area as well. 

@Ryan E. I would actually like to see the answer to your question as well. I cant get another loan because of my DTI. I would hate to get stuck with hard money financing.

@Jeremy Hunter Thank you for the advice, Ill check it out!

@Jessie Niu I put 3.5% down on a 575k property. I guess it adds up! 

@Tim Dye Any advice on Whitehall? There are a couple listings for multi families off the 16 that I am interested in. 

Hello Everyone,

My name is Tyler (24) and I am from San Pedro, CA. I bought my first duplex here about 6 months ago and it seems to be doing well. I used an FHA loan to buy the property and have both units leased out for above market pricing. Unfortunately, due to my $600 a month PMI, I hardly cash flow (more or less $300 after expenses). I am looking forward to next year because I hope to be able to refinance as the value of the properties in my area have increased.

I am most interested in Buy and Hold multi family properties. I am currently looking in to purchasing property in Columbus, OH to begin my ventures there. As far as contractors and lending goes, I am pretty well set up however, I am having a very, hard time finding a property manager there that will actually show me the time of day. I suppose it might be easier when I actually have a property there. They would be able to better determine whether or not I am a serious investor and not just wasting their time. 

My goals for the future are vast! Short term; I wish to get established in Ohio (with somewhat reliable management and perhaps a couple properties). I want to buy rehab properties, fix them up (as I know a great contractor there) and rent and refinance. Long term however; I want to move to Ohio to manage my own properties and control my own destiny. I want to grow enough for financial freedom for myself and my future family. Perhaps by this time, I may be ready to look in to other streams of income like flipping or wholesaling. 

Don't get me wrong, I want to grow in San Pedro, CA as well. I hope to purchase another property reusing the FHA loan after I refinance out of it on my first duplex. I think that this is a good way for me to do it as I can find a 4-plex and only put forward the 3.5% downpayment. I don't believe I would be able to afford it otherwise.

If there are any other investors in either of my areas: San Pedro, CA or Columbus, OH, I would love feed back on what I am doing. I want to grow and learn as much as possible!

Thanks for reading,

Tyler Turpin