All Forum Posts by: Eva Salas

hi Chris PM me for a rec. 

Eva 

@Angela Anderson I have rented to family for years, and from what you've written,   she sounds like a good, qualified tenant, who just happens to be your daughter!  Of course a rental contract with her is mandatory.  I'm not sure how extensive the contract must be for your state. Like  @Elizabeth Colegrove, California's contracts come in reams!  

@Derrick Carpenter I'm sure you are not alone! In fact, I know you are not, as I have overpaid, as I'm sure many others have. But I'll bet you're lovin that cash flow, and hey! You got your first deal under your belt. More than many people ever do. So give yourself a high five, fist bump and pat on the back! 

@Ben Cochran Disregarding as a rumor is not an option. The sellers are no doubt aware that this disclosure is being given to potential buyers. If you are seriously interested in the property, or if the sellers actually want to see it sold, they should have it tested. I've never done meth testing but did have asbestos testing done. It was just a few hundred dollars. 

@Elizabeth Colegrove   You nailed it. The other house isn't  a true comp. way too different than subject. 

While you are stewing in those fears and doubts, opportunities may be passing you by. It's always much easier for me after I sign on the dotted line and plunk down the money. When that's over its all good. Then time to get busy with inspections, etc. Pull the trigger on one and you'll gradually be less nervous. I like your idea of starting w duplexes. 

I began investing in 1980s in a very small way, a condo in Fresno with a partner. I also did some note investing. My principal residence in Hawaii tripled in price when I sold, and I came back to the Bay Area in 1990 and worked for a couple of non profits while investing in multi family in 1994. 

My buildings take up 3 or 4 hours of work a month, as they are professionally managed. I usually spend some time on the phone with the managers of some multi fam partnerships I've gotten in to. Now that I am becoming more active looking for new opportunities, I can spend anywhere from 1-5 hours a day on that, which I really enjoy! 

I quit my job in 2001, yes I do some traveling, but enjoy our home on the peninsula. I like to ride horses, garden, hike, and make artisan hand crafted soaps. I also volunteer for various organizations. 

Is that the only comp you can find? You need more for your analysis, including the information @Venky B. mentioned. 

My residence was in a flood plane. I lived there many years with no flood. Check out if/when the property has flooded is where I would start. 

best of luck to you! To me, I find it very valuable to develop relationships with agents. Then they'll think of me when they hear of something good!!