All Forum Posts by: Jeff Zimmerman

@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!  

well done @Kevin Moules !

Congrats @Ryan McKinney ! As a quick note, while Duplex's tend to cash flow less, their appreciation rises faster than other MFH's with 3 or 4 units. you will always be able to sell it for a premium if it's in good shape with market rents. Usually, they sell to SFH ma and pop investors rather than MFH investors, and SFH investors tend to pay really high prices for everything. so you should be solid long term!

@Adrielle Tecklenburg. good questions!!  House hacking is a great way to go.  The first thing you have to remember is that the only person who gets to define a good deal is the person making the deal.  Start with your goals in mind (i.e. how much money you want to make, how long you want to hold it, live for free vs. cash flow...etc...) after that you can usually find a place that meets your goals and allows you to do what you want to do, it just takes some sweat and creativity.  I'm in Fresno and know this market pretty well, if you'd ever like to chat about the process, possibilities etc... feel free to message me, happy to help!