All Forum Posts by: Jeff Zimmerman

@Vernisha Williams welcome to BP!  it's been a great resource for me for years now.  I haven't ever paid for a membership so i don't know really know it's benefits but i've been pretty happy with the free version.  As a real estate agent i keep a list of my cash buyers on hand, i'm sure others do too.  One idea is to network with agents so that when you have a deal that requires cash they can bring a few people to you for it.  You are more than welcome to message me if you'd like to chat more.  congrats on getting starting on your investment journey!  good luck, all the hard work is totally worth it!

@Michael Perreira, sounds like he may have a lot to lose with too much exposure in court if he really hasn't been paying his employees.  His response sounds like an initial "flex" to get you to back down.  plus he'd have to pay his attorney a few hours of work that will total more than he owes you so I'd say it's worth it to send a letter to the attorney, just expect more flexing at first.  You can also look into what it takes to go to small claims court and possibly just go that way, it may or may not involve talking with his attorney at first.  I also have a good RE attorney if you'd like to chat with him, although his fee may be high enough to where it's not worth it.  good luck with that, sorry you are in this position.  i'm happy to help further if i can. 

@Drew Leo that was a great read drew, thanks.  where did you buy in Fresno?  i'm always interested to know what out of town folks are up to.  how's it going so far?

@Sam Eknoian what part of town are they in?  that may affect my answer to your question.  Overall, I don't see an issue, those lots can be really charming rentals, kind of like "bungalow" style units.  You usually have a lot of options for upgrading the yards and giving your tenants a resort-like experience which will raise your rents.  in lower end areas, depending on how low, they can cause problems if tenants don't have enough separation from each other. that's why i ask where it is. 

@Michael Perreira sorry to hear you have to go through that, these are the types of landlords that give us all bad names.  he sounds like he shouldn't be in the business in the first place.  @Nathan Gesner had the best idea in my opinion, most landlords don't want legal heat from tenants so a well-written letter citing the codes, etc... is the best route to go.  His mailing address is easy to find on tax records if you don't have it already.  

are you still in Fresno or did you move back to Bakersfield already? 

@Case Sandberg lets do it man, that'd be great 

@Elias Callahan i'm not a flipper but i have plenty of clients who are, if there are some that fit what you are doing i'd be more than happy to introduce you.  let me know.  Good luck! 

i've never analyzed the sac market but i have a few friends who are buying in Fresno who are closer to sac.  Fresno has always been good to me, prices are inflated but good returns are still there. 

Great questions @Chantal W. I would put as little down as I could to raise my return.  However with 1031 timelines you may find it's easier to buy something with mostly or all cash so that you can hit your timelines.  you can always do a refi cash out later to buy more, i've found this strategy lowers stress from 1031 investors all the time.

As far as size of property, it depends how much debt you take on, but generally speaking the bigger the multi family the less per unit price you get and higher cap rate....and if you did buy a large multi family, you can find a good management company that will help you learn how to do it while they manage it for you.

I would also buy a property that is mostly turn key, simply due to your timelines in the 1031.  it's always best to just get the deal done without problems and then re-group and move forward. 

Let me know if i can help in any other way!!  good luck! 

@David Maldonado i can send you some rehab lenders to chat with so you can get some good info, let me know when you are up here next!