All Forum Posts by: Dulce Beltran

@Rick Singh It depends on your goals and your experience. Have you owned rental properties? 

San Diego is known to be an appreciation county therefore a low CoC investment county and high very low cap rates. Wether a SFH or MF, on any investment property your down will need to be 30-40% for the property to cash flow well if using financing. There's positives and negatives to both. On one hand a SFH property in a good location, with the right rental price will be rented in a reasonable time frame and have a lower turn over rate. On the other hand the MF has greater potential for cashflow, spreads the vacancy risk over the total number of units, and the work is less the SFH due to economies of scale. There are a lot of factors to consider. Based on my goals, I would leverage the $400K and purchase a MF. I work with investors looking to purchase rental properties and am happy to answer your questions.

Also, I'll be attending our local REIA at on Nov 13, my colleague is giving a talk on MF investing and I would be more then happy to introduce you.

@Joe Villeneuve Fantastic thinking! Saving that mental note forever!

@Paula Wallace congratulations on your success and perseverance!!

@Douglas Snook The tenant has been in the property since Oct 2015. Bathroom was renovated towards the end of 2011 with new cabinets. One other tenant and kept property in excellent condition. Second tenant did not unfortunately. 

The baseboards are not to the point some wood putty and paint can't fix. The one piece that is damaged has to be replaced, it's a 2"x5" piece that was broken off and the decorative part is gone. 

This is the first time I've dealt with "tear and wear" and mental notes for future materials used. Was looking for some insight from others with more experience. 

Tenant moved out. Walls need touch ups and two bathroom cabinets are de-laminating (excess water dripping and not cleaning). The baseboards have knicks on all of them. One has a piece of it taken out. Is the water damage and baseboards considered wear and tear?

@Brad Penley It really comes down to what is your goal is, what is the purpose of holding onto the duplex? is it for extra spending cash or is it being saved to purchase another duplex? 

@Sam Shueh would you please elaborate on Property Manager Identification, e.i. owner = pm, or live in pm?

@Curtis Rouse Jr Thank you for sharing your calculations, there are line items I did not account for in my calculations and will employ these! We're on the hunt for a MFR as well, how long have you been investing in MFR?

@Scott Choppin thank you! I really appreciate your input and knowledge. I agree, those are my questions as well, why are you selling incomplete, etc. 

@David Gonzalez Thanks David, that is the goal and needed more clarification as to how to determine that value and @Scott Choppin helped me understand exactly how value it. 

@Ryan Hopkins After reviewing the property and all above information, I do see the red flags and also the opportunity it presents. 

I came across a 14 unit Multi completely under rehab and for sale at $2.4M. Current investor replaced sewer line, plumbing, electrical, added HVAC (had wall units), new siding, a few units have insulation, others down to studs. 8, 1 bed, rent $950-$1100 (depending on finishes), and 6, 2 bed, rent $1450. Property in A/B neighborhood. States still needs $175K-200K to complete project. Cap Rate 6%-7%.

My question is how does one value the property if there is no current income? Is this a cost to build analysis?