All Forum Posts by: Garrick Oconnell

Hello @chrisfrydenland I have seen many people I personally know rent out rooms to international students in Mira Mesa as it is right next to the Alliant international university. Hosting college students as a family, receiving what seemed insane cash-flow (1200-1400 a shared room), but also providing everything including cooked meals, furnishings, etc..

With that being said that cash flow will barely cover the mortgage in PB or MB you can guarantee you will have to  watch these college age students for abruptly leaving, and damaging your property. 

The risks being you will be basically provide an expensive dorm to tenants that will be difficult or impossible to qualify, you want to make sure you can cover the mortgage for vacancies, maintenance, and management.

@Logan Brockmeyer Welcome to BP prescott is a great little town and as so many realtors in your area have told me you have a Trader Joes. And much more but they all are really excited by the trader joes. 

Hello

@Brian T. Grooms would you care to share the contact info for that property manager in Flagstaff, az

We own rentals there

Thanks!

@Jordan Concepcion Hais painting in San Diego came in at and exterior paint of $2.25 sq/ft google for contact info. He is fast and does not skimp on prep work. Paint is all in the prep. He is hard to understand. 

Great thread!

The question between SFH and Multi family. Today I choose SFH because the loans are easier to get, the exit strategy will always be easier that

Multi family is not for everyone! it may fit your strategy today but if you decide to move on or trade up properties you most likely will have to wait for another investor to come along. 

I have found few multi family properties that have an acceptable cap rate, and even fewer that cash flow to my liking in San Diego. I have found a few but due to lack of cash or my own delay they sold in a FLASH. 

San Diego is a highly desirable area with high home values- Which means you will have to create deals or work for them.

On the other hand if you are just starting out looking for a low cost low risk investment out of state- Low cost does not always mean low risk.

Educate yourself know you numbers, you have some very savvy guys giving you advice on this thread. @Charles Cho

@Wai Chan Sounds like a great project please keep us informed. what you decide to do, and why. 

Thanks for sharing!

@Larswin Mendoza

ADA code requirements will be completely different from residential. 

ADA codes primarily effect multi housing only at the office and pubic areas. 

In cemmercial especially when taking new ownership or if you plan to make any changes to the new building will be a substantial difference. 

Ask the seller if the property is ADA compliant, has it been CASp certified (ask to see certificate).

If the property houses medical anything then it is imperative that you make sure it is ADA compliant, because the level of compliance required is much higher. 

To each his own. 

I signed up for a program based off of House flipping HQ podcast. I have been very satisfied with it so far. But at the same time I took a real estate course in AZ the state I am primarily working in. It all helped combined with listening to as many podcasts as possible. I think that an affordable course that is current hosted by people/ company in the business is helpful. Visit you closes REIA meeting even if it is 2 hours away before you sign up for one of these courses and talk to some players in your market. Because at the end of the day local laws and markets will dictate how you work you business.

I just RSVP'd looking forward to meeting everyone there!

@Mecia R. I am interested in the deal. 

If you want to email me [email protected]

#1 question is your seller actually motivated?

We can work together to figure out if this is deal or not. 

We are end buyers meaning we will buy and hold this property, and that we are use to paying wholesalers fees.