All Forum Posts by: Jeet Sangha
Jeet Sangha has started 64 posts and replied 229 times.
Post: Add a bedroom to single family house
- Realtor
- Gilroy, CA
- Posts 255
- Votes 73
Quote from @Lina Vezzani-Katano:
Can you add a 3rd bedroom in an already rented out 2 bedroom single family house? Do you need the permission for the tenants who already live there? Can you then increase the over all rent, but still low enough so that the current tenants wouldn’t be paying more than what they are paying now?
Yes, you will need their permission because of the disturbance. If you are going to do extensive renovations. I think it would be best to wait until their lease is up. If they are month to month, you can give them a 30 or 60 day notice (depending on the length of residency) to vacate and then do the renovations. Is there a specific reason you want to add a 3rd bedroom while it's occupied?
Post: Looking for CPA that specializes in real estate
- Realtor
- Gilroy, CA
- Posts 255
- Votes 73
Hello BP, I'm looking for a local CPA that understands real estate investing and help with tax saving strategies. I recently listened to a bp podcast on Cost Segregation Study, and I was intrigued to learn more about that. Any recommendations are appreciated!
Post: What to do with excess land?
- Realtor
- Gilroy, CA
- Posts 255
- Votes 73
We recently acquired a home that sits on a 5-acre lot. We can easily rent out the house but don't know what the best use of the land would be. It is zoned A-20 or agriculture medium scale. Upon talking with the county, we can only use the land for ag-related purposes. My question to the BP community is, besides leasing out the land to a farmer or growing crops myself, what other ag-related business can I operate that would generate income? The property is situated close to the city so it's not in a rural area and it in a close proximity to a major highway, if that helps.
My current thought is to build a warehouse building and lease it out, but I'm not sure what kind of ROI I will get.
Post: Cash flow per unit in Arizona and Nevada
- Realtor
- Gilroy, CA
- Posts 255
- Votes 73
How much minimal net cash flow should I aim for per door if I invest in a small multi-family (5-20 units) in the suburbs of Phoenix, AZ, or Las Vegas, NV?
Post: Low turnout on in-person meetups
- Realtor
- Gilroy, CA
- Posts 255
- Votes 73
Quote from @Alicia Marks:
Where and how are you marketing it? Are you collecting attendee information to offer deals you find? I have one that is in it's second month. We had a drop off in attendance slightly, but possibly due to being a new location. Find out what the experience level of your members is, what they are there to learn, and start bringing content that supports it. I have a mix of experience, so we started with discussing mindset. Growth mindset is great for newbies or leveling up, which I discussed from my personal experience. Next month we are doing live deal analysis. I'm having them send them ahead of time so I can screen. Ideally we will have a few different types of strategies to look at. We will discuss the potential issues, bounce ideas, and vote collectively if we would do the deal. That works for any level because we all come from a certain frame of reference. I'd also say to steer away from bringing guests that are doing a sales pitch. That turns people off. If someone has additional courses or plans to sell, they need to bring solid content in their pitch. I won't plan to have anyone like that until we have a decent sized core group. Keep consistent and provide value and word will spread!
I'm marketing it on meetup.com, Nextdoor, and Facebook. I have a sign-in sheet I use and have them RSVP on the meetup. Most of the attendees are newbies. I think your idea of deal analysis is a good one. I'll implement it at our next meetup. Thanks!
Post: Low turnout on in-person meetups
- Realtor
- Gilroy, CA
- Posts 255
- Votes 73
Quote from @Account Closed:
Quote from @Jeet Sangha:
I recently started hosting a meetup group in my city, and the turnout has been abysmal. I wonder if people prefer to meet online nowadays instead of in person simply because of convenience, or am I missing something?
I'd rather host an in-person meetup because I like the real-time engagement, and you get to build connections at a deeper level.
I'd appreciate any tips or tricks to host a successful REI meetup group!
Hey Mike, Thanks for the great tip. That makes sense.
Post: Cash Flow Markets - Beginner Investor
- Realtor
- Gilroy, CA
- Posts 255
- Votes 73
Check out the Gilroy and Hollister markets in the south bay. I own several properties with positive cash flow every month. The rental demand is strong, and home prices have softened quite a bit. Sellers are willing to play ball, especially if a property has been on the market for a little while. Feel free to message me and I'd be happy to discuss this in detail.
Post: I do not know where to start
- Realtor
- Gilroy, CA
- Posts 255
- Votes 73
Hey Michael,
I completely get where you are coming from. I think we are in the same market. So, if you ever want to chat. Feel free to message me. I'd be happy to get on the phone and answer any questions you may have and hopefully provide some clarity.
Post: Investment Bayarea and out of state
- Realtor
- Gilroy, CA
- Posts 255
- Votes 73
Ash,
I'm assuming it is 1.5M. I'd highly recommend you check out Gilroy and Hollister markets in South County. Prices have been on the decline, but the rental market is stronger than ever. I personally own several properties here. There's no reason you can't have great deals in your own backyard! 😀
Post: Small Multi-Family market in Bay Area, CA
- Realtor
- Gilroy, CA
- Posts 255
- Votes 73
Hi Kushal, If you are trying to stay close to the bay area. I'd highly recommend you check out Gilroy and Hollister markets. With rates rising, sellers are willing to play ball, especially if the properties have been on the market for a little while.
If you are interested, I can recommend a few properties to you right now.