All Forum Posts by: Detra Harris

Hey J. I'm looking forward to it!  I always enjoy your Meetups and make great connections.  I learn a lot from those who share their investment experiences, which is motivating. Thanks for the invite.

Hi Aaron,  thanks for the communication.  I don't think my client wants to live on site and take on tenant matters, however,  I will ask.  Thanks!

Thank you for the quick responses.  Dmitriy, please send me the link as well.  Good stuff!! She will be taking a distribution.  I am seeking 2 - 4 units for her.  I think that will be a good start -- any thoughts? Umm . . thanks for the feedback John.  Alberto,  she has no experience with property management. I offer property management services.  I have 25 years of experience in that area and will provide the service as an option.

Hello :)

I have a client who will be retiring this year and would like to invest into a small apartment building to obtain retirement income.  She has been on the job quite a while, credit not perfect but fair, planning to use her 401K for the purchase -- no experience and she does not currently own a home.  Conventional? Hard Money? Creative Financing?

Thanks for the feedback!

Detra

What authorities have been notified?  After the 3 day is served and no payment, start the process immediately.  Three months is way to long to wait for rents.  The eviction process could take up to 6 months in some cases.  Lawyers are very expensive if you do not have the cash flow.  It's best to handle this yourself if you cannot afford an attorney.  If the tenant respond to the UD -- it's best to enter into a stipulation agreement and you will need an attorney for that.  Best of luck!

Keep me posted Kathleen if you decide to host another event in the future.  Thanks for reaching out!  I hope the best for you and your family.

Wow, that's a big pill to swallow Belinda.  Good luck and thanks for sharing.  I get so much knowledge from reading these posts.  If I run across anything that may be of help to you, I will certainly reach out.

My focus is building capital to purchase an apartment building. By October of this year, I plan to have at least $500,000 cash.

I also plan to establish great friendships and connections this year!!!

Just Listed!

1200 Grand Avenue, San Rafael, CA 94901 -- Offered at $2,295,000

This beautiful historical property was built in 1926 by well known architect William Yelland. The property was originally built for San Rafael City Building Inspector, W. Schlosser, who lived in the main house for several years. 1200 Grand Avenue has become a great monument for Dominican University student living for the past 10 years. The property offers approximately 5,027 square feet of living area between two on site properties. The total lot size is 9,380 square feet.

Assembled into two properties on one lot, the main house has 8 bedrooms, 4 bathrooms and accommodates 12 students. The rear cottage has 2 bedrooms, 1 bath, accommodates 2 students and 1 onsite property manager. There is sufficient space to add up to 3 additional students, a total of 18 students. 1200 Grand Avenue offers accommodations for students year round.

Financial Summary

Analysis Type:  Proforma

Scheduled Gross Income: $314,664

Effective Gross Income: $305,224

Operating Expenses: $124,132

Net Operating Income: $181,092

Pre-Tax Cash Flow: $76,440

Cap Rate: 7.9%

Please ask for a copy of our Exclusive Property Offering w/Photos!

[email protected]

CalBRE#01966555

Shane,

I went through Allied and passed with flying colors!!!!  I was out of there in 1 hour and you get 3 hours to test.

Good luck!