All Forum Posts by: Eric Gerakos

Bernie, for your first property I wouldn’t buy a fixer upper. Flipping requires expertise in several areas and is not for beginners in this market. Take your time and educate yourself before making any decisions. Best of luck.

Follow your “gut.” Buying crap properties in crap neighborhoods is generally a terrible idea no matter how good they look on paper.

Hopefully what you were smelling was the litter box and upon its removal the odor will go away.

Wendy, this is a perfect example of why “cheap” properties that look great on paper often become the most expensive and least profitable to own. Too many California investors think they will make more money by buying cheap, crappy homes in the midwest and unfortunately they soon learn the reality of high maintenance, high vacancy, low life tenants etc. Sorry you’re experiencing this.

First, determine the real market value of the property. Don’t go by what an agent or your family friend says it’s worth.You need to do a lot more due diligence before even thinking about making an offer.

Welcome Nick. Always keep in mind that “affordable markets “ are affordable for a reason. Less desirable areas, higher maintenance, higher vacancy etc. The actual cash flow is often considerably less than how it looks on paper. As a fellow OC investor I would suggest that you consider buying a better class of property in an area where people actually want to live as opposed to where they are forced to live for financial reasons. You will generally get much better appreciation. Best of luck in your endeavors.

Good topic. Since my dad drank like a fish and lived to 87, I think I'm ok as long as long as I don't run out of booze.....

 This. When rates are higher I prefer to be the bank.

Just Google, "Synidcation"