All Forum Posts by: Jen L.

@Account Closed  Hi Minh, you really need to do a podcast for us!!  Most of the podcast I heard are 1)  not for CA  and 2) only focus on cash flow.  We need someone telling us like it is, without all the smoke!!!

I wish I could buy a house in 1996 and I would be set!  The property with the $8k reno cost was purchased in 2007.  Now, it is worth almost 80% more.  I never would have thought that!  I grumble a lot about the $8k but it is ultimately a small $ when compared with the appreciation.  CA real estate really is the best....If you have the $$ to buy.    

@Jeff B.  Do you self manage the 6-plex?  How much time is it taking you?    

@Ralph R.  Is the $100k-$150k the average housing price in your area?  That's amazing!  

@Jeff B.  It's my dream/goal to own a MF in the bay area.  It is just costing too much for now.  How did you buy yours?  I think the San Bernadino market is pretty hot too.  

@Thomas S.  Thomas, yes, you're right.  I didn't do quarterly inspections, I did annual inspection and I truly didn't think things were so bad.  I should start the quarterly inspections.  What's your tenants reaction when they receive the bills for the repair?  I'm wondering what's the best way to not cause any tensions.  

@Ralph R.  Your story sounds like one of those shows in the Discovery Channel about final frontier ;)  In the Bay Area, we call 50 degree freezing...haha!  That's why we have to pay $1M+ for housing.  People are saying that it is peak for the Bay Area for the past two years. I went to several open houses last month and it's stampede.  People were desperately asking agents how to get their offers accepted!  I just called an agent and he said that he gave out 50 disclosures.  So, I really don't know how long it can go on.

Have you found any places with cash flow + appreciation??

@JD Martin  The single item costing the most are garage door(~$800k + painting), micowave/vent(~$400k), Painting/holes patching ~$3k.  Carpet was changed last year and it's still good.  So the move out cost doesn't include flooring.  

We put laminate flooring in, thinking it's indestructible. But it has been badly scratched and I have been looking at everything to try to patch it.  I've tried pencil, wood stain, marker, etc....

How long does your newly rehab usually last?  5-7 years?  

@Ralph R.  Thank you for sharing your wisdom!!  I totally are in the same line of thinking with you.  I just can't understand how people can quit their jobs after 2 years buying cheap properties that will not appreciate.  

How are you finding deals now?  How's the market in Alaska?   

@Ralph R.  You're absolutely right!  I find out more and more that it's all about appreciation.  Since my property is in the SF Bay Area, I'm lucky to have good appreciation.  However, most people in BP are cash flow buyers.  After $8k of move out or other unexpected cost, I wonder how do they cash flow?  

@Ralph R.  Thank you so much for your comment!  My tenant had 4 kids and railing was broken, toothpaste in the drawers, etc.  We had laminate flooring and glass paint but still...They also paid rent on time.  If I don't have appreciation on the property, it would be a very tough pill to swallow.