All Forum Posts by: Eric Mukai

Hi, I'm wondering what those of you out there would do in my shoes. I'm toying with two different properties to buy, I'll call #1 and #2: Background of #1: -$210k 3/2 1,500 sq ft SFR on 6k lot -In older B- neighborhood (which is also improving) that is lower working class, clean -convenient access to highways, shopping -$40 HOA -Area seems to have lots of older homeowners, no houses are dumps or dead cars, etc -Rents for $1,150k -Taxes/Insurance $150 monthly Background of #2: -$220k 4-plex of 4 2/2 900 sq ft condos on C- property of 20 other 4-plexes. -Area has improved from D- a few decades ago but seems unlikely to improve in near future. -Low-income tenants, Grounds not well kept, units in fair condition and cleanliness outside. -convenient access to highways, shopping, primary school right across the street -$700 total for HOA for building, includes water, sewer, community pool -Units rent for $650 each -Taxes/insurance total $400 monthly -Would go with section-8 tenants if possible My thoughts are: the house is a better appreciation play but CF will be lower. 4-plex will have better CF but unlikely to appreciate due to neighborhood and other units. I can probably only pick up one property right now so there's the opportunity cost if I choose one and not the other. I appreciate anyone's general thoughts, concerns, or questions!

Hi, I'm wondering what those of you out there would do in my shoes. I'm toying with two different properties to buy, I'll call #1 and #2: Background of #1: -$210k 3/2 1,500 sq ft SFR on 6k lot -In older B- neighborhood (which is also improving) that is lower working class, clean -convenient access to highways, shopping -$40 HOA -Area seems to have lots of older homeowners, no houses are dumps or dead cars, etc -Rents for $1,150k -Taxes/Insurance $150 monthly Background of #2: -$220k 4-plex of 4 2/2 900 sq ft condos on C- property of 20 other 4-plexes. -Area has improved from D- a few decades ago but seems unlikely to improve in near future. -Low-income tenants, Grounds not well kept, units in fair condition and cleanliness outside. -convenient access to highways, shopping, primary school right across the street -$700 total for HOA for building, includes water, sewer, community pool -Units rent for $650 each -Taxes/insurance total $400 monthly -Would go with section-8 tenants if possible My thoughts are: the house is a better appreciation play but CF will be lower. 4-plex will have better CF but unlikely to appreciate due to neighborhood and other units. I can probably only pick up one property right now so there's the opportunity cost if I choose one and not the other. I appreciate anyone's general thoughts, concerns, or questions!

Hi, I'm curious what contract those of you out there recommend for signing deals. In the past I signed up a small handful of deals and for all of them I used a contract I got through a RE investor course. I liked it because it was intentionally simple and it was written with investor buyers in mind. But I can't find the original or the CD I had with the file, so I thought I'd see what resources others signing deals have been using.

@Ray Lai: I am in a market which IS super competitive though--Phoenix, AZ. So I'm curious how your feedback would change then.

Curious for those of you who've been marketing as a RE investor: if you had a $300 monthly marketing budget (as you can imagine, this number isn't arbitrary but realistic for my own life), how would you spend it? My initial idea is a split between Investor Carrot and a year-long direct mail campaign to select homeowners. Just wondering what you RE investors who are actually looking for leads think!

I'm interested in starting a property management company here in Phoenix. Basically I have a great full-time job as a property accountant at a large firm. I am thinking I'd like to partner with someone who has a RE license and is energized to do the on-site work, while I'd do the background accounting, documentation, etc. I figure start-up costs would be minimal and by having a partner, we could share the workload. Anyone know someone who I might want to talk to?

I'm looking for any opinions and feedback on my market evaluation. (FYI I am a resurrecting real estate investor trying to re-enter the real estate game. I moved 3 years ago from Hawai) I live in the north central Phoenix area and have been watching the trends in the market here over the past 9 months.  I think a sidewards-trending market is developing in our Valley. Phoenix is certainly not in a RE slump--my current residence went up $45k since we bought it last year. However, I confidently state that the market also hasn't been hot since around the middle of this summer. Now some might blame it on weather, but I think it's quite clear that when you look at listings, they are sitting longer, experiencing price cuts, and inventory is building. In my opinion, a sideways market here is great because you can work creative deals as sellers will become motivated. I have done a couple of creative financing deals in the past, so the prospects in PHX have me getting excited. Anyone familiar with our area want to comment, for or against my view of our market?

Hey Filiberto, you certainly would have the law on your side as a tenant who doesn't own the house. However, practically, you might want to just move out since your lease expired. People don't change much, and even if you got your landlord to take care of the leak, there would just be something else down the road that would come up. Per this site: http://www.tenantsunion.org/en/rights/section/vacating you have to give your landlord 20 days notice. This is a slow time for landlords renting places typically so I think you might find a good place available. The only reason to stay, to me, would be if you were close to purchasing your own house and you needed to show a long tenant lease history, but sounds like you are not really close to buying. My best to you!

Looking forward to being there! I think pizza is great, it's also easy and universal imo.

Excited to be a part of this group with other BP members. I'm sure this will be great for my investing career! Thanks, Bob E.!

Hey, new to the BP site, I'm up in Deer Valley, would love to join the next June 15 mtg and meet all of you!