All Forum Posts by: Jeff Minc

Hello,

I was hoping somebody might know a reliable source that will list out the average cap rate per city? 

Thanks guys. Cornelius I sent you a PM earlier this morning.

Good to know. Do you have any recommendations for local realtors in Ventura? 

Also curious how you look for multi-family deals out of state, what's your process if you don't mind me asking?

Hi Dustin, 

Thanks for the insight, that is very helpful. I own a couple mutli families in Bakersfield and those have been good cash flowers over the years so I definitely tend to lean in that direction. I've seen a few in Oxnard on the MLS where the numbers look decent but I'd like to get down there and get to know the area a little better.

What's been your experience out of state? I've had my eye on Dallas for a while but I'm  concerned with finding deals that far away. I like to be hands on when buying and I don't have the flexibility to fly out there every time a potential deal pops up.

Hello, I was hoping to get some recommendations for a realtor in Ventura County. I live in Santa Barbara and I'm looking for multi family deals or possibly a single family rehab project. I'd like to find someone who's experienced with investors and who could also recommend sub contractors for any needed rehab. Any advice or suggestions are much appreciated. 

Also, I'd be curious to hear any insight into the Ventura market. I'm very familiar with Santa Barbara but I have not spent that much time down south.

Hello,

I am looking for any thoughts or advice on an idea I've been working on. I own a couple multi-family properties outside of my home city which have been great for cash flow but I'd love to own more where I live in Santa Barbara. I'd like to buy a duplex or triplex and be able to rehab and potentially sell for a profit within a couple years assuming a decent rate of appreciation. I would also consider living in the property in order to qualify for an owner occupied loan and be able to do some of the rehab myself. My questions are:

1) Is this a good idea in Santa Barbara where it is almost impossible to find a cash flowing property?

2) Is there any real money to be made in a strategy like this or would I be better served just focusing on trying to flip single family homes within a much shorter time frame.

3) Can someone recommend a good local contractor?

4) Does anybody here have any experience with this type of deal and how did it go?

Thanks for the info. Yeah, I have tried to stay in the west region and so far have had only one "nightmare" tenant. Otherwise, things have been good and I would consider my properties A-B units but I'm not totally clear on what differentiates an A from a B property. I have been using Locator and have had a pretty positive experience. My one big concern is that I am being over charged for repairs and materials. I don't have a background in carpentry but some of the costs do seem high to me which makes me worry. I will check out rentrage.com, thanks. 

Hello everybody,

I recently found this site and have found it very informative. I have been investing in RE for the past 3 years. I primarily have been buying multi-family in Bakersfield for the cash flow and because it is relatively close to where I live (Santa Barbara). I own a 4 unit condo complex and a duplex in the southwest area (Laurelglen & Quailridge). I try to stay as informed as possible but because I don't live in this area I feel a little out of touch. I have a couple questions for any Bakersfield locals and/or investors. 

1) Who do you use as a property manager and what has been your experience?

2) The duplex on Quailridge Rd near CSU Bakersfield has two free standing 3Bed/2bath houses in very good condition each with a two car garage and lawn. I currently charge $1,175 per unit. Each unit has long term tenants that have been great but I'd like to up the rent to at least $1,200. Do you think that is fair rent for the area? Can I go higher?

3) Any update on the local economy would be much appreciated. I know the oil crash has had an effect but I have not noticed it in terms of vacancies or a decrease in property value so I was just curious to hear other people's experience.

Thanks for your time, any insight is much appreciated.