All Forum Posts by: Anthony Katsonis

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $750,000
Cash invested: $250,000

Nice multi unit property that needed a new roof, and some cosmetic updates as well. Additionally we added solar power to the property, which lowered our utility bills substantially. This is a great performing property that now has a good bit of equity as well.

Investment Info:

Condo buy & hold investment.

Purchase price: $185,000
Cash invested: $60,000

This is a great little studio condo at a great little resort in Gulf Shores, Alabama! The property needed quite a bit of work, so we got right to it and knocked out the rehab in 3 weeks. We completely remodeled the kitchen, including cabinets/counters/backsplash/appliances. We painted it and got all new furniture. It is posted on AirBNB, VRBO,, and our direct booking website, www.libertyvacationrentals.com. This property is on track to produce a 35%+ Cash on Cash Return! Gotta love real estate!

Investment Info:

Condo buy & hold investment.

Purchase price: $475,000
Cash invested: $130,000

We bought this property to run as a Vacation Rental. We fixed it up a bit, and got all new furniture and immediately put it on AirBNB, VRBO and our direct booking website, wwww.libertyvacationrentals.com. The property is performing as good or better than expected and is on track to produce a consistent 30% Cash on Cash Return!

@Elliott Elkhoury

Hey, you're in my neck of the woods! Do you know of any banks in our area that'll do a collateralized commercial line of credit?

@Eric Grabin

Welcome to BP! The event last night was awesome, not to rub it in or anything :) @David Greene did a great job, his presentation was full of great info and hands on instruction on how to effectively analyze a market quickly. It rocked! If it makes you feel better, my understanding is they do it every month. Hope to see you at the next one my man!

Raise their rent! Are they on a lease? Is it rented at market rates already? If so, it sounds like it may be time to give some people notice, and rent it to some tenants who'll appreciate having a place to live. Definitely talk to an attorney if you're going that route, as I'm sure you already know. I hope this works out for you man, that sucks.

This is an actual MLS photo of a home I showed to some clients today... I've seen some hoarder homes in my day, but this one takes the cake... The funny part is, I just sent off an offer for it. Hopefully we get it LOL.

@Logan Vierstra

I concur with Sean. Good info there, I have had similar experiences in El Dorado County. One example: I bought a property that is on record as being 1000 square ft. I measured it at 1500 square ft. Turns out the sellers converted the garage. No big deal to me, they did good work and I figure I could always have the county do an as-built-permit to legitimize the square footage and (in theory) raise my property value for resale. I will probably wait to do that til right before I sell, if I ever do, as that would raise my property taxes, which obviously doesn't help my cashflow situation.

My best advice is to have your friend talk to a contractor and see what their opinion is of the situation and what an As-Built-Permit would entail. He should also go to the county, be vague (don't give address or full name or anything, call me paranoid if you want) and ask what they would require for an as built permit. My understanding is that their main concern is that there is no health or safety issues... i.e. GFCI outlets where needed, tempered glass where needed, smoke detectors, etc.  If he does do this please update us on his findings, as I've meant to go to the county to ask for myself but I've been so dang busy I can't seem to find the time.

Hope this helps, and good luck. Feel free to reach out to me directly if you have any other questions about EDC REI. :)

Hey Local Peeps! Nice to see some activity on here from folks in the area. There are still deals to be had, though I must admit I miss the days when you could throw a rock at a house and it would cashflow with no money down. But I try not to let that get me down. Just have to work a little harder to make it work, and the time will come when easy money will be back.

@Sean Carroll, I concur with @Phil Kessel. My wife and I own rentals in EDC and there are no restrictions on the amount we charge for rent besides the ones we place on ourselves and what the market will bare. Hopefully we will never see rent control, but you never know what the future holds, especially in this state. Are you thinking of investing in El Dorado County?