a few days late since i am super busy with the current rehabs, but closed on #19 on thursday night. worked on it for awhile with the listing agent and the brokerage. they apparently have a great relationship with the feds and kept trying a few times to get the best price. about a month+ ago, it was listed at 72k, i believe. then a few days later it dropped to 64.9k. i offered 52, but they didn't take. they said they had another offer. then i offered 55 and stuck to it 3 times in a row. they said best they'd do at this time was 55.5, so i took it.it's in Garden City, but on the border with Westland. it's on a cross road (one that goes between 2 major roads, so that will push some people away. numbers look like this:purchase - 55.5krehab - who knows, after 18, i still can't estimate properly, but i am hoping $20k at mosttaxes - $2,500rent - average rent is $1,000the problem is that i am out of money right now and can't touch it until i am done with the latest 2 rehabs. i might do a little here and there like demo and cleaning up the yard of trees and such, but no major installs until we are done with the latest 2.my goal was 20 a year ago. i am close, so i just need a new goal.

High purchase price, high property taxes, high insurance costs, and relatively average rental income in return.  

The average 12-month rise in inflation-adjusted home prices since 1975 is about 1% per year compared to the current 4.1% pace, arguing for a bubble.

I pay 7%, full months rent for finding a new tenant, flat fee ($100) for processing a renewal, and half-months rent if the PM manages (eg; gets multiple bids, contracts out the work, etc.) any turn-over repairs, or I can do that on my own.I've got 10 properties with them and average 2 vacancies per year, so my effective rate to them is 7% of rent-roll + 2 months rent + $800 + 1 add'l month rent (2 x 1/2) for managing turnover repairs. 

Even if you have an LLC outside of California but live in California you will be charged $800 for EACH LLC you have including each and every out of state LLCs.Unless you are protecting millions of dollars in assets, it makes no sense for the average investor (who lives in California).

Rejected.Tomorrow I'll be making three more offers.So far, since putting the signs out a week and one day ago, I've averaged four calls a day, half of those leading to an offer.No deal yet, but I've grown completely comfortable with screening leads and making offers.

Download BP’s newest book here some good due diligence in Chapter 10.

Quick Question..I live in an area where the average home value is pushing $300,000 (City of Elk Grove..

If you had vacancies and it averaged higher it still sounds low.

I downloaded the beginners guide e-book and already a few episodes in the podcast, amazing!