All Forum Posts by: Pat McGrath

can i ping you too? Im using an old college friend for cpa but may need services for an re attorney down the line

Lol. no, i was the agent working & he was with his parents, mentioned he worked on ahmads show and another one called 50/50 that i guess didnt make it 3 episodes. 

my wife has worked with a number of out of state 3 or 6 month nurses, so they do come by. You just have to find them. 

awesome job! Definately live in there the full 2 years if you ever want to sell.  I actually ran into a person at an open house who used to work with you. Specific lenders may or may not refi to 80%, some only to 75% and they may appraise it lower than what it would actually sell for. They dont like cash out refis much.  Sounds like a great deal & great opportunity to leverage & grow

why are you saying hoa means low cap ex?? Hoa's wont replace your hvac, roof or water heater.  Imho:

1) 15-20% is low. You may not get a response at all or likely a flat no. But if your not embarrsed by your first offer, (as an investor & its been on 5 months) then its not low enough. 

2) thats what you should expect in 99% of any coc return house in cali. Your not going to get a 8/9/10 school district & have cash flow (or at least right now).

3) look at trulia (for rent) and rentometer to verify your rents. Then estimate the lower end so you can pick proper tenants. Imho 5% is tight but possible if you have the right amount of rent to get a lot of apps, you can pick the right tenant & a tenant who doesnt thrash it and stays. 

Are you cash or financing? If cash you may be able to offer a little lower. You % below will likely get rejected but they could counter. Worse that can happen is they say no. 

sacramento is abig area, with lots of surrounding areas. You will get better returns in north highlands than roseville. Then again your tenants may not be ideal. There are those that do it, & feel quite comfortable. I know a few people who get calls off letters sure, but its still a vetting process to get to those most motivated. 

welcome, im just up the road in lincoln, with our office in roseville(so yah im there often). Kc is a bit interesting to me too, i have a property in memphis

she mainly works with the owner paul

ditto. Sean i know a few gcs (& i just saw you yesterday!) 😁 i can help run a cma for you quickly too on any property. I'll send you my cell

my mom has 4 rentals in a california college town. She loves them. She does has a very good property manager who takes cares of everything though, so if your considering it, find out how much they charge in your area & start interviewing. Go over the leases they make kids sign, how they vet tenants, how many rentals they have, when they will call you about a repair , what they make the tenant change, how often they inspect & then get phone #'s for their clients as well. She likes the turnover , consistent rental increases, parents co-sign is a plus &she had 0 days of vacancy on all 4 for the last 2 yrs. you could also cherry pick a few mls listed houses & ask what each property mgr would suggest the rent for. Go just below market to get it filled fast & you have more tenants to pick from & less vacancy

in my earlier years, maybe house hacking would have been great for me earlier but never now (kids, wife etc). I looked a lot of places locally & aprreciation, though very entising, is a gamble. I grew up in fremont in the 90's & saw houses & land double every 5 yrs. so cali is mostly an aprreciation market. If you know the markets & trends & direction of expansion, go for it. I bought out of state because i liked consistent income. My $.02. There may be great deals in your backyard, but how long & how deep will you have to dig? Risk vs reward. Time vs money vs knowledge.