All Forum Posts by: Nick Sandoval

@Nemat Waseem thanks! Yes the plan is to scale up.

My wife and I just closed on our 3rd investment property in Sacramento. Total of 5 doors now in the last 3 years and we both have full time jobs. So anyone else out there can door too!!!

I thought it would be beneficial to share with other members that are looking to do the same.

Purchase Price$389,000 negotiated with seller to $357,000.

The main house is 3bd/1ba 1400sqft in about 13,000sqft lot. The house does need a good amount of work that’s how we were able to negotiate so much off asking price in this competitive market.

The “guest house” which is permitted is about 650sqft 1bd/1ba built in 2008 much newer than the main house and is basically move in ready.

We originally intended to go with 20% down but after we went through home inspections we changed the terms to go with 10% down and decided to use the remaining toward renovation budget (going for open concept so taking down some walls, new HVAC and new kitchen).

Our mortgage along with utilities and other home related expenses is about $2300 monthly.

The guest house will rent for about $1100.

Out of our pocket after guest house is rented is going to be somewhere around $1200!! ($2300-$1100= $1200).

The lesson here is that we were paying $1330 to rent an apartment last month. Even in this competitive market there are ways to make deals work. I’ve been inspired by other posts and hope that this posts benefits someone out there :)

I would be happy to share more details if needed...

Thanks for reading,

Nick

@DJ Dawson

GOOD STUFF!

@Adam Kistler

Welcome to BP!

I own a couple duplexes and most rental in Sacramento require landlord to pay for sewer/trash/water so thats about an extra $300-400 out of your pocket. In addition you need to account for repairs & vacancies.

From time to time I come across off market deals (not many rightnow but hopefully things improve during winter time).

I would be happy to share any knowledge I’ve acquired over the last 4yrs as a landlord feel free to PM me.

Thanks,

Nick

@Carrie Purkeypile

I am a landlord myself, my wife and I self manage our rentals (i tried a “professional” PM company 2 yrs ago but that didn’t work out).

I also manage properties for family members that don’t live in Sacramento.

I would be happy to chat and see if I can be of any help, feel free to PM me.

Thanks,

Nick

@Dipesh Lad

I own a few rentals in Sacramento. Willing to share my experience and would love to help anyway I can, feel free to PM.

Thanks,

Nick

@Adam Lynch

Good Luck in your journey.

I own a few rentals in Sacramento, personally the south Sacramento area is where I have been able to find cash flowing deals.

It does take some vetting to get good tenants in that area. I’d be happy to further discuss, feel free to PM me.

Regards,

Nick Sandoval

@Charles Seaman thanks for sharing!

Did the courses help you land a deal or are you still in the process?

Im looking for both courses and mentoring. My goal is to close a deal within the next year.

I’m definitely interested in taking some courses to educate myself. That being said, it would be beneficial to have an experts feedback/opinion on a deal (this is the stuff you can’t find in books).

Multifamily Investors,

I have been investing in Real Estate (single family and small multifamily) for about 3yrs.

I have gained some valuable experience and now looking to scale and move into Multifamily 5+ units. Currently looking to join a mentoring program, i feel that this will help me speed up the learning curve and provide the opportunity to network with experts and likeminded individuals.

I’ve done some research in different mentoring programs and it’s overwhelming, there are way too many options out there! Just wondering if anyone would be willing to share recommendations or provide feedback on Multifamily investment programs?

Thanks,

Nick