All Forum Posts by: Josh Justiniano

@Jonathan Guerrero Yeah but we had to attack a few other markets other than Bako after a while to make sure we were getting enough deals. Depending on what list you hit, I hear people saying they've got quite a few pieces from other people. Then it just becomes a game of who wants to lock it up the highest. Don't get involved in that game LOL!

If you can get a really refined list that no one else is hitting, your response rate will go higher. You live there, so driving for dollars is a good idea. I hit 2 deals (well, 2 properties off the same person) driving for dollars in Bako and mailing them last year. It's easier than competing with a million other investors.

@Jonathan Guerrero Yes I know. We were getting close to 2% about 1 and a half to 2 years ago. 

I send 2-5 thousand a month. Just depends on what month and lists we're scheduled to hit that month.

normal for that area. Remember there are at least 20 other people mailing Bakersfield. I've been mailing there almost two years and my response rates have been cut in half. 

Downside of not permitting garage is is that tenant can ask for all their rent money back, and it probably won't qualify for conventional financing if it's not permitted.

1925 is really old. I'd make sure all the pluming is in working order (not galvanized). If it's on a raised foundation changing it will be cheaper. Also, check the electric and make sure the box is big enough to support a duplex. Make sure to get affidavits from the tenants and ask them if they have anything they want fixed in the place. 

Personally, I wouldn't buy a duplex in Bakersfield for 185k, but it is in a good area.

Alta vista is a decent area. How many sqft is the duplex?

I'd be careful about a garage conversion. 

Make sure you get the right permits and make sure you calculate for the less than market rent you'll get. 

For management I usually see 100 to 120 bucks a month for a duplex. That doesn't include advertising and lease up fees. 

What area or cross streets is it? 

It depends on the area. 185 in Bakersfield for a duplex sounds really expensive. You can find on market duplex deals hitting the 1% rule of thumb in Bakersfield. Not in all areas, but in c areas you can. 

 I actually signed up for @Joe Fairless education program a few months back. The price was very reasonable. I think I paid like 2500 up front and 250 or so a month for unlimited calls/emails.

It's geared towards multifamily. He shows you how to analyze a deal all the way up to how to close it. I haven't closed a multifamily deal yet (only been about 5 months), but we're moving forward. 

Principles of real estate syndication by Samuel Freshman

Welcome. That's great you're so young looking to invest! I'm from SoCal as well (Thousand Oaks area). Just remember, real estate is a long term game. It's not a get rich overnight game. Anyone who is telling you it is is probably trying to sell you something! ;-) 

Good luck and feel free to message me with any questions.