All Forum Posts by: Vierra Wong

Thank you for the referral!  Looks like they’re based 4 hrs away from my property though. Interesting thought about getting the contractor out there first before the inspection. Is the logic behind that to make sure everything is structurally sound to get a clean report? Why would that be better than the other way around? Thank you!

Hi, 

Can anyone recommend a good inspector for the SB721 Balcony Inspections? 

Thank you!

-Vierra

Hi,

We have a commercial restaurant tenant that is interested in selling his business to one of his employees (the chef).  The prospective tenant has good personal credit however does not have much in assets nor very much restaurant management experience. What criteria should I look for in order to approve an assignment of the lease to a new tenant?  I'm thinking about increasing the deposit or requiring some sort of co-signer to help accommodate the transfer.  Any advice is much appreciated. Thank you!

@Joe Villeneuve Yes I agree. If you had to choose between a cashflow or appreciation market which would you choose? I figure the appreciation market theoretically will cashflow at some point 

@Jordan Moorhead I've looked in the Coachella Valley area (Joshua Tree) for STR contenders but have been so focused on finding a MFR building I never did my due diligence on the area. Why do you think STR might be an easier route to take right now? Thanks for you input.

@Harrison Sharp Thanks for the insight. I agree the longer I wait the harder it'll be to enter the market. It is my first investment and I'm sure it'll be more a learning experience than a home run deal. I've been looking in the Plano/Frisco area but not in the FW area. 

@Joe Bertolino Are they in safe neighborhoods? I've run the numbers on many multi-family units out there but can't seem to make them cashflow for 20% down. What neighborhoods do you recommend? Thank you.

@Brooke Roeder Probably something 2-4 units.  Don't think I can get much more than that with my budget (400-800k) in the areas I'm looking. What towns around Austin do you invest in? I've looked North into the Cedar park/Leander/Georgetown area but still can't make the numbers work. Perhaps farther out?

I'm looking into my first multi-family property. I don't need immediate cashflow and prefer a market that has strong appreciation with potential cashflow in a couple years. Safe neighborbood. I've looked at several hot markets (Austin, Dallas, Sacramento, Southern CA) but almost everything would require about 40% down to break even. I can do 40% down but don't think that's a wise use of my cash. I've done the calculations on turnkey properties as well as fixers where there's opportunity for forced appreciation, but the rents never cover an 80% loan in addition to the other expenses. Can any investors in the CA or hot TX markets chime in if they've had the same experience? BRRR doesn't work when the rents don't cover the refi loan on the ARV. Thanks in advance for your input!

@Joe Funari Thank you for the clarification and appreciate the advice.  I'll make sure to take that into account when running my numbers.