All Forum Posts by: Ramsin Jacob

1511 Jefferson St, Unit TH7, Oakland, CA 94612

Bed: 2

Bath: 2.5

SF: 1,590

HOA - $400

2-Story

Hardwood Floors

Ground Floor Patio With Exit To Street

2nd Story Patio

In Unit W/D

Huge Bathrooms

Great Layout / Big Rooms

Lots Of Natural Light

Rooftop Deck With SF CIty Views/ BBQ

One Car Private Parking

Building Is Secured, Entry Only W/ FOB Key

Turn-Key Red To Move In!

Seller Is VERY Motivated!

Asking $799k

Similar Townhouse Sold For $900k

Please Email: [email protected]

Pictures: https://www.dropbox.com/sh/dnynysmtnl9xf28/AAApcW2AxOKMXkKLh7Z9jSBda?dl=0

Great for rental income (Avg $3,000 - $3,500 p/month) and sell in few years as home value increases. Brand new high rise complex currently being built adjacent to this building. On the same block, Hotel Marriott will be developing a brand new hotel. On the next block, current development for 30+ story business/apartment tower being built.Multiple newly built condos/townhouses have been established. There's no doubt this townhouse will have increasing value as the years come by.

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Comps:

572 9th St, Oakland, CA 94607

3 Bed

3 Bath

1,418 SF

Townhouse

Sold $900,000 on 4/19/18

585 9th St, Unit 513, Oakland, CA 94607

2 Bed

2 Bath

1,114 SF

Condo

Sold $860,000 on 8/21/18

655 12th St, Apt 101, Oakland, CA 94607

2 Bed

2 Bath

1,303 SF

Condo

Sold $900,000 on 7/10/18

Thanks!

I agree.  There are a lot of those out there.  I've come into contact with several but it's easy to sniff them out.  Thanks for the advice. 

Hey, if you have any off-market deals in Clark County, please let me know.  I am investing into that area as well.  Thank you Jay. 

Originally posted by @Jay Hinrichs:

Originally posted by @Ramsin Jacob:

Would you say the majority are like that if you meet them online first?  I'm having trouble with that right now, sometimes it's like pulling teeth as I am trying to get them to prove they are legit.   I'm always extra cautious from any lender online, due diligence is important...

Originally posted by @Jay Hinrichs:

that sounds too good to be true frankly.. caution unless this is a personal friend or family member if its a private lender you met on line.. good chance you will lose any up front money you give them

 too good to be true terms from on line lenders or someone posting on facebook linkdin  or BP  ( on BP they will send you a PM)

many times are fake.. and just want your up front fee and as much as they can squeeze out of you.

usually they need 500 up front or something like that for an app fee.. they string you along and then right before closing all of  a sudden they need a grand or two.. then you send that in then they say there is a problem with the file we cant close sorry bout that. and you have formally been scammed. 

Hi Maya, 

I have a client that would be interested in this property.  

Please contact me via email: [email protected] 

Thank you. 

Would you say the majority are like that if you meet them online first?  I'm having trouble with that right now, sometimes it's like pulling teeth as I am trying to get them to prove they are legit.   I'm always extra cautious from any lender online, due diligence is important...

Originally posted by @Jay Hinrichs:

that sounds too good to be true frankly.. caution unless this is a personal friend or family member if its a private lender you met on line.. good chance you will lose any up front money you give them

Now I do, thanks for the info. 

I'm a Realtor/Investor from the San Jose, CA.   Any tips on Detroit would be appreciated.  I have had my mind thinking about that city for a little bit now.  

Thanks. 

Originally posted by @Joe Villeneuve:

Originally posted by @Ramsin Jacob:

Dan Gilbert as in owner of the Cavs?

Originally posted by @Omar Khan:

@Maria Luna I gotta agree with @Joe Villeneuve. There are deals to be had in most types of market. Plus, there are still a lot of affluent communities in the suburbs and all over Michigan. 

Detroit has gone through tough times but not everyone is skeptical about it. Dan Gilbert is spending a fortune (multiple BILLIONS of dollars) plus small-to-medium scale manufacturing (e.g. Shinola) is expanding. 

Best to do more research and do actual tours of the market/properties.

 Yes.  You do realize his headquarters is right in the middle of downtown Detroit...right?

Dan Gilbert as in owner of the Cavs?

Originally posted by @Omar Khan:

@Maria Luna I gotta agree with @Joe Villeneuve. There are deals to be had in most types of market. Plus, there are still a lot of affluent communities in the suburbs and all over Michigan. 

Detroit has gone through tough times but not everyone is skeptical about it. Dan Gilbert is spending a fortune (multiple BILLIONS of dollars) plus small-to-medium scale manufacturing (e.g. Shinola) is expanding. 

Best to do more research and do actual tours of the market/properties.

Can you send me property address?  [email protected] 

Thanks. 

1511 Jefferson St, Oakland, CA 94612

Bed: 2

Bath: 2.5

SF: 1,590

2-Story

HOA - $400

Hardwood Floors

Ground Floor Patio With Exit To Street

2nd Story Patio

In Unit W/D

Huge Bathrooms

Great Layout / Big Rooms

Lots Of Natural Light

Rooftop Deck With SF CIty Views/ BBQ

One Car Private Parking

Building Is Secured, Entry Only W/ FOB Key

Turn-Key Red To Move In!

Seller Is VERY Motivated!

Asking $799k

Similar Townhouse Sold For $900k

Great for rental income (Avg $3,000 - $3,500 p/month) and sell in few years as home value increases. Brand new high rise complex currently being built adjacent to this building. On the same block, Hotel Marriott will be developing a brand new hotel. On the next block, current development for 30+ story business/apartment tower being built. There's no doubt this townhouse will have increasing value as the years come by.

Please Email: [email protected]

Pictures: https://www.dropbox.com/sh/dnynysmtnl9xf28/AAApcW2...

Thanks!

@Ryan Weirick Yes it’s possible.

My client’s original offer of $765,000 was accepted. After initial inspection, he came to me said the most he could purchase for is $660,000 given the conditions & ARV. $105,000 less, I thought there goes this deal. Seller ended up declining, we canceled the contract. Seller attempted to get a deal around the same $765k price. I contacted the seller’s agent after couple weeks, they still didn’t sell it. After a few conversations, I was able to get the sellers to accept the $660k price that my client has wanted. We just closed escrow today. The property: 315 E. Julian - Downtown San Jose Just wanted to share because I see a lot of comments bashing Realtors. Yes, most have no idea how investments for fix/flips work, but there are a rare bunch similar to myself who not only have the knowledge but the will power to make these type of deals happen. Purchased: $660k ARV is $1.1m Est. Rehab $120k 👍🏽