All Forum Posts by: Jeff Zimmerman

Hey Everyone,

i was chatting with my broker today about a commercial property that I wanted to make an offer on. The plan was to raise the funds from investors after the offer had been accepted.  My broker told me that as of Jan 1 the new PA contracts have to show the money available-in other words, the funds all have to be ready to go prior to the acceptance of the offer.  this seems incredibly difficult to do since it would mean having the investors money in place without the deal wrapped up.

has anyone else experienced this issue with PA's?  what the best step by step process to present to an investor without a deal in escrow yet?

Hey All, I currently have a small MF in Fresno CA where 2 of the apartments will come available soon. I'm going to take the opportunity to do some minor improvements to boost the rent by $50-$100/month. Both apartments have cottage cheese ceilings (not sure about past asbestos testing). I'll be doing plenty of upgrades already but Have you found that a modern ceiling is worth putting in or will it not matter when it comes to raising the rent? Thanks.

Hey Justin, Welcome. I'm also new to investing. Nice done 2 deals in Fresno so far. Where is the property you are closing on soon?

@Sean Monahan feel free to hit me up in a private message anytime

hey @Sean Monahan welcome!  good to see another fresno investor on here.  i've been investing for three years so there are a lot of people that know more than me but i'm more than happy to help in any way I can when it comes to local investment info.  feel free to hit me up anytime.

Hey Ramon, great to see you on here.  Good luck moving your operations to Fresno.  I invest in multi-family homes here locally and would love to talk if you ever come across something I'd be interested in.

@Franklin Romine those are great thoughts Frank.  why do you think you have less to replace on the lower income than the higher income properties?  I just bought a place downtown and am trying to figure out what to expect.  any insight you have would be much appreciated.

on my multi families I account for 50% of rent for upkeep, usually SFH's in Fresno need 35% set aside for Maintenence, repairs, etc...

hey @Roderick Brenes I think that's realistic. I'm more of a multi family investor but some friends Of mine who invest in SFH's tell me they can get $100/month without much trouble. They tell me they usually spend 35% on upkeep here which is what contributes to their success. I know that my home is worth about 230k and would rent for $1300 or $1400/month. Good luck.

@Aaron Mercer good luck man!  I live and invest in Fresno. if you need any help as far as which areas to look at or if you need referrals to brokers and managers please let me know!