All Forum Posts by: Jordan Futch

I just have a question for anyone active in SoCal; Are there any areas in southern/ central California where long term rentals cashflow, or is that impossible now with today's interest rates? Most of the deals I see the numbers don't quite add up, or break even at best. I've been told that the working strategy in SoCal is to break even after all expenses, and the appreciation and equity is where the money is made. Rather than other areas of the country where property might cashflow but not have as much appreciation. Is this true? Looking at 2-4 unit. Thanks for your help.

Are there any cities or areas in southern/ central California that cashflow, or is that impossible now with today's interest rates?

@Kevin Sobilo

That's a great point. I've been able to find some off-market deals so I'll pass one on to an experienced investor and ask to be a part of the project. Love it.

@Eric C. @Kevin Sobilo @Max T.

Thank for the answers guys. But how do I get a potential money partner to invest with me when I have no experience and no deal? I have confidence in my numbers but I'm not sure I could convince someone else of that.

I'm preparing to buy my first fix and flip. I want to use hard money and a money partner for the purchase. I already know my agent will want to show POF with any offers and I could show a pre-approval letter from the hard money lender but I don't have a money partner yet to show proof of funds for the rest of it. I know I can raise the capital but I don't want to lie about my situation, or miss out on a potential fire deal. Whats the best way to approach this?

@Chelsea Griffin Look into house hacking. It's a great way to get into long term rentals and eliminate your cost of living. That was you can put more money into paying off that debt!

@Will Fraser @Steven Lowe @Andrew Postell

Thank you guys for the great suggestions! I now have some direction to keep moving forward. Thank you.

Hi folks and happy holidays to everyone. I'm running numbers on deals for the purchase of my first investment property and I have most everything down, but when it comes to the rehab budget, I feel like I'm shooting in the dark. For those of you that have experience with rehabs, how do you go about estimating the cost you'll putting into your rehab budget before you make the purchase. I'd like to be able to get general contractor bids on the scope of work before hand to run accurate numbers but I'm not sure if that's the correct process. Thanks in advance!

@Jay Hinrichs @Jo-Ann Lapin @Dan H. @Brian Garlington @Russell Brazil

Thanks guys, really appreciate everyone's thoughts and insight.
@Russell Brazil@Jay Hinrichs@Jay Hinrichs

@Eryka Santoyo yeah shoot me the details! I'd love to come through!