All Forum Posts by: Michael Stanfield

@Steven Embree II - Yeah!  Not sure what the next steps are.  My partner and I are sorting out what our next plans are, plus with our parents getting older, that might alter where we buy next.   But yes, I'd love to get a coffee and chat.  

PS: Its good to know those rental rates are what you charge, because they are SO close to mine. 

Hey Steven, 

Great to read, I actually almost did the same exact thing IN El Sereno.  I live on Gambier and purchased a duplex with the same casitas nestled on the hillside.  Mine was a bit different as the top unit was almost 100% renovated, so that was income-generating from the moment I got the keys and got a good tenant in there.  

The bottom unit was a full renovation (I did it all myself but took over 3 years, since I still had a full time job) But turned out nicely.  I currently live there and enjoy the fruits of my 3 year labor (plus a bit of rental income) 

Congrats on the deal.  I'd love to connect, compare rental rates, and mix and match what works and what doesn't, considering we both have rental properties in the same area.

Reach out anytime.

Michael Stanfield

I just provided comps for a triplex in the Inglewood, CA area.  I provided various comps/estimates coming from different angles.

1. From a rental income standpoint, (how much does it rent for, vs other triplexes in the area.  We did a 1.5mile radius, but depending on the area, you can go wider or smaller.  What does it rent for, features, fixtures, etc, vs other rentals.

2. From a square footage aspect.  What is price per square foot for comps that have version of the same featuers.  (if there is a shared wall on the duplex, then maybe find a 4 unit, with 2 shared wall units.  Then take into account fixtures, function, etc.  

Kinda tricky, because I find investors who are buying look for different things. I am a buy and hold guy, so overall price per sqfoot value isn't as much of a concern as rental income.  (since I plan to hold, and value can change dramatically over the course of 10-20 years).   

My little two cents.  Thank you!

Hey Will.  I live in El Sereno, and have work done on my rentals / primary.  Reach out to me via text when you have a specific issue (plumbing issue or electrical) so I can give you contacts for that task.  Good luck.

Interested!