All Forum Posts by: David Hutson

Randy,

Welcome to BP. Lots of great info on here. Watch the forums and set a few key word alerts. Also, keep your eyes open for the local REIA meetings. There is a meeting specifically for apartments and commercial property. Google it. They meet locally tomorrow night.

CAP CITY RESIDENTIAL-APARTMENT-COMMERCIAL INVESTING MENTORS

David

@Thai Tang,

Welcome back.  There are still a lot of cash investors around but there are also deals, you will just have to look hard for them like before.

@Robbin Jones,

Welcome to the site. There are many knowledgeable people here in Sac. I recommend you get out to the local REIA meetings to meet others in person. There are three groups locally you can attend and get great info from. Maybe you can find a mentor there also.

Good luck, Semper Fi,

David

@Debra R.,

I like these systems and they work very well.  They do provide heating and cooling.  You will not need a standard HVAC system to assist these as long as you get a big enough system to handle all of the rooms in your house.  You may need two systems.  Each system has between 1 and 4 "heads" (inside units) and are installed by drilling a 3" hole through the wall and the head installed/connected to it.

You can run each head in every room individually which is a big plus.  You won't have to heat or cool every room in the house.  For big rooms you may need two heads to heat or cool and then one for each bedroom or small room.

Take a look at Home Depot online or Google them.  There are many brands and sizes so the actual cost will depend on the sized of your house and how many units and heads are needed.  They are energy efficient and again, you don't need to heat or cool the whole house.

I have been looking at them for awhile now to put into a fourplex I own downtown and we use them in our offices where I work.

There are always discounts and show specials if you check out the home shows either at Cal Expo or the convention center.  Home Depot and I'm sure other retailers or HVAC installers should be willing to give you a free estimate.

My two cents is that it's very difficult to find good local deals (in CA) so I have moved to out of state.  I have 14 rentals.  The first 6 were here in CA and my last 8 (in two years with one closing today) have been out of state.  The profits are higher away from CA.  I would prefer to buy local so I can manage and drive by my properties but it's not worth it financially.

It's not going to be the same for everyone, depending on comfort level, experience, finances/ability for down payment, etc.

Which is easier depends on how involved you want to be.  I find my out of state properties to be easier since I don't manage them and even with them being out of state the returns are higher.

Property management should be at the top of your list when considering a home to buy.  You buy the house once but deal with the property management co until the home is sold.  It will make or break you.  Wherever you buy, investigate property managers prior to buying.  Find a good property manager prior to closing.  You can find recommendations for wherever you buy on BP.

If you have the cash to buy down there and are willing to "hope" for appreciation then it can be great.  I recommend you figure out what the end state is before you start looking.  What are the reasons you want to own property?  Where do you want to be in 5 years, 20 years, etc.  Start with the end in mind.

Good luck.

Fazel,

I may be able assist you with these things.  After taking care of all of my properties I have learned it all.  I do have a question on the blinds you are trying to install if they are bay windows.

Message me if you still need help.  I am in east Elk Grove and have much more than just a tool belt.

Vistaprint.com is a good place to get them.  Fairly inexpensive and you can design them yourself.

Welcome to the site.  Lots to learn and there is always something new. 

Make sure to set your keywords on topics that interest you.

Good luck, David

@Jamie Spitale,

The best way to start out is with a conventional loan from a bank, if you can qualify.  Put 20% of the purchase price down and finance the balance.

The house will need to be in generally good shape.  Most likely, you won't be able to get a loan on it if there are significant repairs needed.

If you have any questions send me a message.

I agree w/ Matt.  Get what you can out of the security deposit and prorate the last month's rent depending on the exact date of your new tenant moving in.  You don't want the old tenant to file a complaint if they drive by later and see a new tenant in the home and you kept the full amount of the last month's rent.  Definitely verify what the PA laws are in this case.