All Forum Posts by: Daigo Kurosaki

Hi BP, 

I'm visiting Las Vegas tomorrow from Los Angeles, and I figured I would do some real estate browsing while I was there (since I can't really afford much in LA). I am definitely a newbie to the Vegas market, so I was curious on what communities people recommend for someone who has interest in finding a cash-flow positive property in a good community that's near some of the more stable workforce. I wouldn't manage this property myself, and my budget is <200k. 

Would love to hear anyone's thoughts on what communities might be best for me to look into. I don't have any interest in living in it, just trying to find something with as good of a COC ROI as possible.

Thank you guys for your very helpful and insightful advice!

I just had one more question: when do you guys make an offer? Do you view the property and have an inspector check it out first? 

Or do you make the offer (based on the #s) and then view/inspect property after?

Seems like the former option is better, but would take much more time per property (and thus cause you to lose out on quite a few deals).

Thanks @Josh Prince  - some really great advice. When you say " not likely to be gentrified... Far from silver lake..." I'm curious if you use any website or program to research which areas are going to be "up and coming" ? Or is it just something you instinctively know with your experience? 

I'd love to find a more systemic way to find up-and-coming areas that might soon be gentrified.

Amateur investor here that will hopefully soon be buying my first MFR. I live in Los Angeles and have been quietly searching for the past month or two, and I think I'm starting to find a few that I like.

I wanted to ask though, to the more experienced MFR owners out there.... what are some absolute deal-breakers for you when purchasing an MFR?

Like for example... I can't purchase anything under Rent Control (not experienced enough or ready for potential headaches). 

What about you?

Hello BP, 

Amateur investor here that is looking to buy my first MFR in southern California. I wanted to ask the more experienced investors - is there a formula you use if the property has been listed for some time?

For example.... "if the property has been listed for 90 days, I offer 20% less than the value. If the property has been listed for 30 days, I offer 10% less than value." 

I'm just curious if there is any method you use to adjust your offer relative to how long the property has been listed? 

Here's an example of one that is kind of interesting to me: https://www.redfin.com/CA/Los-Angeles/181-S-Virgil...

I'm concerned on why it's been on the market so long though.... what would you offer?

I'm looking into buying my first MFR, and today will be the first day that I actually go and visit one in person.

My question to you all more savvy investors...

a) What questions would you ask the listing agent in person about the property?

b) What things would you inspect for yourself when viewing the property? What's your checklist?

c) What are some things you could email the agent before hand to help you realize that this property might be "shady" or something bad underneath is going on?

Let's use this listing as an example: https://www.redfin.com/CA/Los-Angeles/204-E-55th-S... . What are some concerns that immediately come to your mind?

Wow, thank you @Paul Timmins  -  very helpful link!

Very helpful and useful tips, @Elizabeth Colegrove  !

I have a quick question: how do you evaluate long-term value and market potential for out-of-state cities? Are there any tools/searches/websites that you would recommend? 

It's hard enough for me to understand what areas Near me are going to be up-and-coming :) I'm curious how someone more experienced goes about analyzing long-term value and market potential. It's definitely something I struggle with. 

Thanks for the advice @Jay Hinrichs  . At what price point do you think I would be able to get into the "B" class of MFRs? And what states would that be?

Instead of buying 2-3 MFRs for 40-70k, I could change my strategy and instead start looking for 1-2 slightly nicer MFRs. The last thing I want is to own 3 MFRs in a criminal-ridden neighborhood :)

I'm an amateur RE investor, but I'm trying to get more into investing this year. Only problem is that I live in a pretty expensive area (LA), & I can't afford buying too much here.

I want to buy a few MFRs out-of-state, but I'm obviously nervous and unsure of where the better markets are, especially as an amateur like me. I'm definitely willing to take some risk, but overall, I'm afraid I'll be taken for a ride by some agent and then my money will be washed down the drain :( 

Ideally, I'm looking to buy 2-3 MFRs for 40-70k, and have them managed by a communicative and competent PM company. I would love to hear your guys' thoughts on what cities/states I should look into that would provide the best cash-on-cash ROI for my budget & level of experience.