All Forum Posts by: Jeffrey Almonte

If you're still buying properties in this market, make sure you have a Plan B, Plan C, and maybe even a Plan D. Run some sensitivity analysis to make sure you can still at least break even if rents drop or if CAP rates increase significantly. Smart buyers are really conservative in their calculations and underwriting.

"Only when the tide goes out do you discover who's been swimming naked." - Warren Buffett

Great tips @Shawn Hissong ! Did you find the buyer through a direct mail campaign? 

Just following up on this thread. Did the multifamily meetup ever happen?

I did something similar. I got my California real estate license in 2013 , helped friends and family buy their homes, and it taught me about the real estate "lingo" and the process of buying a single family home.

Honestly though, I could have learned the same thing (if not more) if I had just picked up more real estate books, attended REIAs, offered to help and add value to a local real estate investor, and took action.

Thanks for sharing this Julia, this is just another reason for me to take my capital elsewhere!

I live in DTLA and can see the effects of rent control properties. Landlords are much less incentivized to spend money to improve their property when they can only increase rents by 3%.

Hi @Isaac Josey ! It sounds like your looking for classes for selling real estate rather than investing.

What kind of sales are you planning on doing? Turnkey, wholesaling, retail? Based on your strategy, you would want to tailor your training differently.

I wasn't able to find any small multifamily deals in LA that would cashflow. It would be a money pit for me, and I would have to hope for appreciation to make it profitable. That's not for me though.

I started looking out of state and got a 40-unit under contract for the price of a multifamily in LA. I'm sticking to out of state multifamily investing until I can find something that makes sense in LA.

Congrats @Tony Castronovo !

Is this a stabilized or value-add property? Are you planning to "buy and hold" this property?

As others have already said, I think the answer is "it depends". I would make a financial analysis on the value of the property, how much it cost to create and maintain an LLC, and your net worth. Don't forget to put a value on your time too! For commercial apartment buildings, it is very common to use an LLC.

As a Californian, I am very careful about opening new LLCs because of the $800 annual cost. Even if my LLC is in a different state, I still have to pay the $800 FTB fee. Due to this, I don't create new LLCs for my SFRs.

You could also look into Delaware LLCs. They provide additional asset protection from creditors, liability, and anonymity.

Sounds awesome, wish I could make it!