All Forum Posts by: Account Closed

@David Hutson Do you know any duplex buyers currently looking in Sacramento? I have a great duplex in South Land Park on 42nd Avenue and buyers have fallen away precisely because they couldn't get their financing in order. I thought that was odd.

Make a plan and work towards it. Personally, I try to start my plans with, "where do I want to be 5 years from now?" Often that leaves me with a current budget so small I only eat lunch and dinner to save money. But 5 years ago I was broke. Today, I live like I'm broke so that in 5 years and will just be pretending to be broke!

If you ever have questions about the Sacramento market, feel free to reach out. 

Welcome Jessica. I am a Sacramento broker and investor and would love to answer any questions you may have about our vibrant city! I've been investing here since 2014.

If you have a lease, you should be good regardless of who buys. Owner will take ownership subject to your existing lease. Renew that thing! lol

Hey Sacramento investors! Does anyone have any experience in buying a single mobilehome as a rental property? I know some local investors have flipped such properties. I am asking about this asset class as a rental. Would love to hear some perspectives. 

In Sacramento, you could buy a duplex on a corner lot and never see your tenants. Even if you were in a up/down unit it would be similar to living in a Brownstone that people on the East Coast raise kids in all the time. 

Regardless, it does take some amount of sacrifice to become financially free. Maybe teaching your kids about why/how living in a multifamily makes good financial sense for your family plus the money you save outweighs the inconvenience of closer neighbors. 

My first property in Sacramento was a duplex and I had a lot less than $100,000 to put down. You can still find great duplexes with that large down payment. Great job on saving such a large amount of scratch!

What type of return are you looking for?

CapEx should be included as part of your cash flow calculation. So pursuant to the numbers you provided, you expect cash flow to be about $60. As long as these numbers include PITI (just says financing) and that it is common for students to take 12 month leases and not 10 month leases, financially the deal is a single/walk.

Are planning on obtaining multiple properties like this? Will this take all of the money you have to invest? I think these questions are what you have to personally answer and the ones other posters were commenting on.

Brandon always says on the podcast that one deal won't make or break you. This deal typifies that statement. 

What part of Oak Park is the home in? If it's South Oak Park, I would 1031 into a multi or multiple properties in another neighborhood. If it is in Central or North Oak Park, I would get a HELOC and use that source to fund new deals.

Great job on finding the initial deal and renovating it!

What an awesome opportunity! It's great to hear when family supports your self-growth!

I would leverage your great opportunity to purchase in the best neighborhood you can. Long-term, the return will outpace the initial perceived cash-flow due to higher rents, lower vacancy rates, and less in repairs due to the higher quality tenant. You're not going to want to live in this property forever, so try to manage the long term outlook with your short terms goals. Good luck!