All Forum Posts by: Neno D.

Hey @Jeffrey Donis great points. I am currently seeking some mentors in the space and hopefully that works. Thanks for the feedback 

Thanks @Bjorn Ahlblad that is great insight. We are starting to plan out trips too and see how many we would need to take to look at properties and close the deal. I am seeing the same thing, the ones that look to have a more stable tenant base on paper seem to have slimmer profits. Thanks for the insight. 

Hello All,

New to the posting on BP, not new to the forms. Quick summary, my wife and I have made a financial goal to eventually migrate away from the 9-5 grind and have financial freedom through our passive RE. We have a sizable rental portfolio of single family/condo properties in California with significant equity we are planning to 1031E into multi-family properties over the next 3 years (vivid vision)

Looking for some general guidance or stories of how to make it happen, remote. Lots of stories about people investing in their backyard, but sunny SoCal is not the place for us due to CAP rates, etc, etc. We are targeting Nor Cal / Oregon / Nevada / Texas...

How do you, realistically, successfully buy and rehab value-add multi-family properties out of state? I realize we can hire a property manager, hire people to do repairs, etc...but it seems like that defeats the purpose of a value add, as you are likely going to over-pay for these types of activities without having deep knowledge or connections in the market? We are doing the right things, reaching out to brokers, calling, evaluating 5 - 10 deals a day (good or bad), learning all of the terms, etc etc...Just struggling with the actuality of buying a value-add property that needs decent work, rent increases, "overwatch" if you will, etc.

Any insight, stories or guidance would be extremely appreciated. Hope to hear from some of you folks! Thanks 

Adding my 2 cents for San Marcos, CA. One of the more under appreciated SD suburb with high rents and lots of newer development

Hello,

I am sure this has been discussed quite a bit, but hoping to gain some insight.  I feel like I do a lot of research and I am just falling short on how I can creatively utilize our rental portfolio and current house to leverage to buy a commercial property (I am thinking 5+ units).

Currently own 3 rentals, 1 on east coast, 2 in California. Cash flow is not great, but appreciation is very strong so far. All have mortgages, LTV is around 70- 75% for most of the properties if you account for the appreciation. Rents are slightly under market, but we have long term tenants in 2 of 3 properties. We also live in a single family home, LTV around 70&. We have strong income, retirements, etc.

Looking to up the ante and purchase a commercial/apartment property, utilizing the equity and value of our current assets.  We do have some savings but not looking to put too much in to obtain the 20 - 30% needed for DP. 

Is it even possible to do? 

Am I thinking of a scenario that is not possible?  

How is this potentially achievable? 

Hello All,

My wife and I are recent transplants to San Diego, CA from the east coast and looking for some advice on areas to purchase a live-in (1-2 years), long term hold property.  We currently own an investment property in Virginia and are looking to expand the portfolio in San Diego.

We are quite open to any area that is deemed safe, either in San Diego or parts of North County.  The closer to San Diego metro, the better for working purposes, but we would be willing to stick out a longer commute for a bit to get into a good area.

Looking to spend no more than 500k on this property, hoping to have the numbers work to preferably make a few hundred once we rent it out if a few years and move onto the next investment.  

Any advice for locations would be much appreciated.  Thanks!

Neno