All Forum Posts by: Derek Vaughn

@Max Gradowitz - I agree with you, it seems like multi family units that are already established and could use a little TLC have much more ROI than a tear down in rebuild that may work better in areas with higher rent. I appreciate the honesty. Mike's numbers above kind of put things into perspective.

@Mike Wood - thanks for the info.... Good to know that people are saying about 200/ft is about average for out this way. That all makes total sense because we were talking about doing the 2/1. It is a single lot that is only 8,523 sq ft. My realtor brought this to me and needed a quick answer, so I appreciate the fast response. Looks like it may not give me the kind of return that I am used to. 

@Karen Margrave - lot size is 8523. Talking about 4800 Tear down should be able to get done for about 20k. No asbestos, and my realtor has had talks with the city about diagonal parking in front of and on the side since it is a corner lot. There are already sidewalks in place, I am checking on how far the structures need to be from the sidewalks and figuring about 200/ft2 to build. Seems like if this other realtor is pressuring mine to hurry that it may not be the best deal for us. I appreciate the detailed response. 

Good morning friends! Wondering if there is anyone in the Central Valley area of CA that is familiar with building duplexes or triplex. There is an old house for 159k in downtown Bakersfield (which would need to be scraped) that I have had my eye on. The lot happens to be zoned R-3, and I figured that we could build either 3 duplexes or 2 triplexes. Either way, we can fit 6 units....Is it more cost efficient to build 2 triplex as opposed to 3 duplexes? Can anyone steer me in the right direction or helpful tips? At 1,000-1,200 per door rent (demand downtown here is crazy), I am trying to see if it would make sense. I usually get a gut feeling about something, but this one has me all over the place. Thanks everyone!

Thanks for the advice @Gene Hacker , that is already a ton of great advice. I had started reading Deals on Wheels, but I never got through it, and he was talking more about financing the mobile home, but he was talking about mobile homes in the middle of the country that were closer to 5k, which wouldn't really work out here. I agree with you on spending time and energy on something that is going to return more and hopefully have less headaches.  

@Matt Owen - I have one up near Bakersfield College and the other is in the older part of Rosedale that they used to call Green Acres. A lot of people that grew up in those areas like it, and they tend to take really good care of them. 

My name is Derek Vaughn, currently sales manager for a citrus company in Bakersfield, part time R/E investor and full time explorer. Always looking to make new friends with passion, drive, and advice in the RE community. I am currently living in my second home, own 2 rental properties, and I have just finished my first flip (which I learned a lot from). My goals are for real estate investing to become my full time job, so that I have more time to travel the world and be in control of my income. I am also interested if anyone has any experience in buying, selling, or financing mobile homes, which I have started to research. Look forward to joining you all on this adventure!