All Forum Posts by: Account Closed
Account Closed has started 12 posts and replied 280 times.
Post: Pros and Cons of Raising Rent Annually (or when renewal)
- Attorney
- Sacramento, CA
- Posts 300
- Votes 172
One rent increase is not going to push anyone out. You're running a business, so analyze your property, the area, and your costs and make a business decision based on your circumstances. Graham doesn't raise the rents b/c he bought dirt cheap houses in San Bernardino. Have you been to San Bernardino? Isn't the easiest place to find good tenants. I'm in Sacramento, I can find quality tenants all day long if I need to.
Post: Reply from lender on BRRRR
- Attorney
- Sacramento, CA
- Posts 300
- Votes 172
I would find another lender. This one sounds like a rookie.
Post: Buying first rental property
- Attorney
- Sacramento, CA
- Posts 300
- Votes 172
Hey Joe, can you point to any recent closed sales where this strategy worked? With rent control, I'm wondering how long it will take to reach market rent.
Post: Looking to buy Fourplex in Sacramento, CA
- Attorney
- Sacramento, CA
- Posts 300
- Votes 172
I did something similar with my first investment. You likely won't cash flow here in the first year, but if you're patient and annually raise rents, it will be worth it. Especially if you lock in a cheap conventional loan. I'm sure there will also be the possibility of forced appreciation because most small multis sold in Sac are not up to 2020 aesthetics.
Post: Getting Low Down Payment Conv Loan on Owner Occupied Triplex
- Attorney
- Sacramento, CA
- Posts 300
- Votes 172
Why not enter into a contract now for the purchase with a 90 day escrow? Throw the seller a few grand that she'd pay an agent to list and it's a win win.
Post: When did you experience a rehab lifehack/revelation?
- Attorney
- Sacramento, CA
- Posts 300
- Votes 172
Hey Jake, there's tons of opportunity in Sacramento. I love your goal!
Post: WV GC moving to Sacramento area
- Attorney
- Sacramento, CA
- Posts 300
- Votes 172
Tough to meet in person these days. I wonder if any meetups are still happening virtually. I'd recommend calling bandit sign numbers and becoming a buyer and joining FB investor groups focused on Sacramento.
Post: Cash out refinance
- Attorney
- Sacramento, CA
- Posts 300
- Votes 172
HELOC. You can pay it off if you refinance the new investment property.
Post: I'm a Real Estate Investor, but my Degree is in...
- Attorney
- Sacramento, CA
- Posts 300
- Votes 172
My law degree has helped me tremendously. Being a lawyer really boils down to reading everything and analyzing what you just read. Just doing those two things over and over in real estate and has both taught me so much and kept me from entering terrible contracts.
Post: Hello from Sacramento, California!
- Attorney
- Sacramento, CA
- Posts 300
- Votes 172
Hi Scott! Sacramento investor and attorney here. Welcome to the BP club!!