All Forum Posts by: Austin Baiseri

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $228,200
Cash invested: $28,000
Sale price: $300,000

This project was an attached SFR and needed a complete interior rehab. We closed escrow for the purchase on August 6th, rehabbed and listed on September 12th at 308,000, under contract October 2nd at $300,000, and closed on Halloween. Overall, I am very pleased with this project, I worked with a solid team to do the rehab they did a stellar job and nearly stayed within the original bid!(over by 3k)

How did you find this deal and how did you negotiate it?

This deal was actually on the MLS. I made an offer covering the sellers closing costs and offered to have the listing agent relist for me(even though I am an agent!).

How did you finance this deal?

Conventional Loan

Hi Vinh! What are you looking for advise on specifically? Best practices as a landlord? Financing? 

San Bernardino and Riverside County are where you should be looking.

Hi Rodrigo!

My partner and I live work in San Gabriel Valley. We have a few deals under our belts in and out of state. If you have some time let’s grab coffee? I’d love to hear about your goals and see if we can help!

Hey Edward,

We just helped an investor close on a 4-unit in the IE. I believe your best bet for your first purchase is going to be a 4-unit(this is the highest number of units possible while still considered residential by the bank). Two big reasons for this are, the price you pay per door will be cheaper & there is real safety in numbers when dealing with any vacancies. Sounds like you are in a great spot to start investing if you would like to connect my partner(Josh Pierce) and I can help point you towards the areas we are focusing on. 

All the best,

Austin

Investment Info:

Small multi-family (2-4 units) buy & hold investment in 29 Palms.

Purchase price: $318,000

Cash invested: $11,130

As a REALTOR, I helped a 22-year-old with an income of just over 45,000 a year purchase this 4-unit using FHA Financing. Closing costs were covered by the seller.