All Forum Posts by: Brian Adzadi

@Nathan Christensen

Once I switched to single family, no only did my search become easier, I was able to buy a property within a week of changing my search. I was able to get 4bed 1 bath. I closed on the property in the beginning of September 2017 and rented it out close to end of September 2017. I have made my SFR my new niche. It is a little better I would say because if you find a property that has original owners selling the property, you have a small guarantee that it is well cared for and going to have a better ability to negotiate price because they want to move as soon as possible.

@Nathan Christensen

Everything you have stated about Allentown, PA so far is to the T. You will find the cap rates are higher here. The price range you are talking about will work perfectly well in the more better neighborhoods like the west side. Although I am not sure if they have too many multi-units on the west side.

The multi-unit market in Allentown is competitive, I must say. I was outbid many times when I was looking for a multifamily. Enough times where I switched from looking for multifamily to single family home. However, that may not be the case with you.

Please contact @Justin Brown. He has ample knowledge about the Lehigh valley area and definitely give you a more in depth summary about Allentown more than I can. Happy investing.

@David Hedges

If I were you, I would just wait for the holiday weekend to be over and reach to them again if in case they don't reach first. They would be the best people to resolve this situation. Maybe its not a discrepancy and the county had increased their property tax, so I would also call the county office to see if they had a recent tax increase within a year that would have caused the drastic increase.

@Abigail K.

1. If you have a super, why does the tenant have your number to be calling you for maintenance and repair issues? That is what the super's job is for. I will send him a text and a letter explaining how the nature of your communications will be for now on. If you (tenant) have any issues, please call my superintendent at this number, he will escalate the issue to me if needs further attention, thank you.

2. I could be wrong, but from my understanding, air conditioning is a luxury and not a necessity in the eyes of the law. If the air conditioner that is giving issues is a window AC then that is upon the tenant to do something about it. You the landlord is only responsible for providing a safe and comfortable living environment, clean water and heat to your tenant.  

@David Hubert

That's like comparing apples to oranges. There is no contest. The first one of course.

Unless you have substantial capital put aside for this flip, I wouldn't touch it with a ten foot pole.

Even if a house is in a high end neighborhood, once it is next to unattractive structures like power lines and highways, the value will be starkly lower than the houses which are not near those structures.

Take option one for now, get your feet wet. While you are getting our feet wet, you are going to real estate meet ups and seminars to start making connections with people seasoned in the game to give you numbers to good contractors.

@Account Closed had planned to invest with, I'm pretty sure he would be able to afford at least ONE property in Fort Wayne, IN instead of NONE in California.

@Andrew Sweeney

The first question and I think the most important question I need to ask you is where are the houses that you are using to do your calculations located?

If they are in your home states of Cali. Then uh yea, makes sense why you are not seeing profits on mortgaged rental properties. Your housing market is insanely high and so are your property taxes. How can any Joe Schmoe investor be able to turn profit with such a competitive market.

My second question will then be, Have you tried out of state rental properties? If you did, you will quickly realize how much more profitable out of state investments are.

It would be nice to buy rental property straight cash but then you are tying up all your capital into one property. If you leverage it, you can have multiple cash-flowing properties.

@Melissa Martinez

Wait what? So the LLC is the renter but then it is subletting it to other renters?

Do you know how pissed I would be if I was the owner? I have a lease contract with the LLC and then they turn around and lease my place to someone else?

Nope wouldn't work for me. Pretty sure its been done but I personally would not allow it. Especially where the fault of anything happening to the renters falls on me the owner and then I have to turn around and sue the LLC.

@Greg B.

Uh yea. All that and more. That is why I put in my lease that no type of business is allowed to be conducted on my property. You are opening yourself to much more liabilities. Nip it in the bud now before something happens.