All Forum Posts by: Gordon Cuffe

I am looking for a property manager that manages houses in the north county area. Any recommendations?

Heating and air systems don't last forever. Why don't investors pay $350.0 per year on home warranty policies. I know there is a max they pay out on major systems but if you have an older house it is inevitable that something will break down.

@Stephanie Garcia

If you ever have loan questions about a property that you might purchase, you can always email me. I am a experienced real estate investor and mortgage broker. You purchased your fist property back in 2012 when our values were at the bottom. You have seen three years of strong appreciation. Sacramento can not appreciate like this forever so on your next purchase you should look at the numbers very closely.

@Jessica Sorensen I found this old thread so I am curious to see if you decided to purchase the house or not? 

I will buy it subject to the existing financing.

There are many different opinions here so it seems like you will have a lot of information to digest before you decide. I just have ideas on how to protect your investment when you do decide. When you hire a property manager, tell them you have a local person that might drive by the property just to check it out sometimes. You would just say that to hopefully keep the property manager honest. If they say they did work on your house, ask for the parts receipts and pictures of before and after. Don't be afraid to get rid of a property manager if they don't do there jobs. If a turnkey provider says that they have completely rehabbed the property then ask for before and after pictures along with any parts receipts and invoices for work performed. If someone is selling a 40k house, call a local realtor and ask them for there opinion of value of the house and area. just google city name then realtor.  check on the schools around the property that you are going to buy just so you know if your in a good district or very poor district. You can get 2% of rents in cities like St Louis, Kansas City and Toledo if your looking for cash flow.

I am wholesaling houses in the St Louis area. You can pm and tell me what zip codes that you want to buy a house in and I will send them to you as I get them.

You should look at rentometor.com just to double check rents wherever you want to invest at.  Many cities like St Louis and Kansas City can get you 2% of rents compared to purchase price. You just don't look for appreciation in cities like that. You just buy at a discount so that you have built in equity (appreciation) . If you like to visit Orlando like I do and you own a rental you can write off the cost of traveling to that city.

Ask your real estate agent if there have been any pending sales within 1/2 or 1 mile of this house and see if they are priced similar to yours.  If they are priced lower and similar sq footage in the same condtion then yours might be priced too high.

If a person buys one of these older house, why not buy a home warranty and flood insurance?  It lowers your monthly cash flow but could pay for those big ticket items that break or get flooded on.