All Forum Posts by: Radhika M.

@Matt R.

 We have been seeing multiple offers I am talking about 20+ offers for the last 2 years. With the tech boom going the way it is you may be right that we will see this for more time. 

@Matt R.

 Thanks for the link.  Makes me happy to San Jose at the top :)

I think in general people want instant results and in the CA markets that may not be possible and coupled that with the high entry point into these markets there will continue to be posts from CA investors (LA/SF Bay area, San Diego)  thinking it is not profitable to invest locally.

Inspite of so many people afraid to invest here I see multiple offers on most properties. I hope more people invest outside so we can get more deals

@Sean Williams

The way you are calculating NOI is wrong. NOI does not have anything to do with your mortgage payment.

NOI: is Rent - Operational expenses.

The NOI and cap rates are independent of your mortgage payment. If you pay 100% down or 0% down the NOI and cap rates will not change.

@Corby Goade

 Thanks for the details.

@Corby Goade

 I think others have said enough reason as to why you should wait in this particular tenants case and I agree.

I have a question for you though, If the tenant threatened to sue for everything like you indicated is there a reason you extended the lease (I am assuming you had a 12 month lease to start with). I am just curious to see if you had a reason.

I am relatively new to being a landlord so trying to understand.

@Ian Lord

 In our area having a second full bath especially for a 3 bed room will increase the rent. We are in a high cost area and single family houses with 3 bed 2 bath rent for 3500+.  

I would see if there is a possibility to convert the powder room to a full bath.  If this is possible this could be more cost effective than adding a completely new bathroom.

@Mike H.

In this case if both meet the income requirement, credit requirement and other I would go based on the personalities of the tenants. One other thing I would consider is would you consider a tenant more long term or short term. I would  not sign a lease longer than 12 months but would prefer someone who would seem to stay for long term.

@Jessica Sorensen

This is a very personal decision and depends on risk one can take. There is no saying where the market will be 2 or 3 years from now.

If you are sure that property value is 60% ARV and with only minor upgrades I would buy it as long as I still have some savings left. It is very risky to have no savings (my perspective)

You say that your savings would be gone. So how much down payment are  you talking about. Since this is owner occupy and no competition since it is from family/friends you could do 5% or 10% down. Are your saying your saving would be gone even with lower down? If so I would not buy any property right now until you save more. 

Good Luck.

@Brian Burke

Yes right now finding a deal is pretty hard though what we are  looking for is no way as large as what you are doing.  Hope you the deal passes all your criteria and the due diligence. If the deal goes through please post the details.

@Brian Burke

 Just wanted to say thanks for posting and sharing your experience and knowledge on BP. I  personally learn something new from most of your posts. Being from the Bay area you are one of the posters that I follow regularly :)

Hope the multifamily deals you have been working on come through.