All Forum Posts by: Rich Lopes

@Aaron Hall, I believe there are tons of deals in Mid-west OH, IN, MO and even in parts of TX in my opinion. 50K is lot in my opinion to get on board with some decent residential MF that would give you a 12 - 15% COC.

How - Network with specific local area Realtor/Wholesalers and give them your criteria. Do not trust their numbers but only yours. Do lot of due diligence on the area, property and people you plan to work with. 

Angela Ong , how far do you operate out of St Louis? I have a property in Independence, MO and may need help with it in the near future.

Yes of course that's what 1031 is meant for. New Investment has to be equal or greater of the old one.

From my personal experience, valley is notorious when it comes to pay. It pays more to younger work force who obviously get attracted to Valley's lure of hitting a jackpot if one of their future dot com is crowned the next unicorn, compared to old dawgs, since they know young folks are willing to do more, work on weekends, sleep under the desk if needed as long  as they are fed free food. These young dynamic workers have more disposal money compared to a seasoned professional who's pay hasn't increased much but has more mouths to feed, unless he is one of those who is sitting on millions of stock options. Hence the inward migration of young workers. The outward migration is of soon to be retired or semi retired  who are cashing out out on their stocks & shacks and buying mansions elsewhere. It's a vicious cycle to say the least.

@Jay Orlauski, Thanks! That helps. In fact, most of the properties that I have come across have been in the range of $600-$700 rents and have at least 50% Sec8 tenants. So I wonder if they could ever go past $800 at least for a year.  I suppose the one you are referring to above is probably not Sec8.

@Jay Orlauski, I have been reading and following your post for the last few days. I have been interested in Fresno Markets since early this year but haven't been able to pull the trigger yet. What's you honest opinion as far as the Fresno RE market goes going forward based on your experience? Would you still buy in Fresno with today's cap rates? Btw, I am mostly interested in B+ to C properties.

I know this is an year old thread but I am trying to understand how the beneficiary can change without the original beneficiary's consent if he still alive?

@Bonifacio Capuyan, I accidentally came across this discussion and I am sorry to hear about your situation. Looking at the pictures it seems like you were probably paid to buy this house and not they other way around. Fun aside, as others have mentioned, I still don't see you putting the contractor's name out here in public for everyone to see. Hope to hear your story to see how you were able to overcome this situation -  I am sure you will. Good Luck!

In addition to what's already said above, Of course do your due diligence from ensuring proper leases are in place, the rent he says is what he gets by checking his bank account or some sort of proof, make sure the expenses he quoted are correct by looking at utility bills etc., title should be free & clear, no zoning violations etc. Don't just take his word and buy it - think why you shouldn't buy it, but don't over evaluate 😊Good luck!

I beg to differ although I have seen prices going up or probably doubling but not in 5 years more so in 10-12 years. Having said that, past performance is not an indication of future results. If you can stomach the negative cash flow on an investment property it's ok to buy one and hope and pray it will double in few years. I would much rather invest in a cash flowing property and enjoy the bliss now than wait. I know folks in their 60 & 70s whose homes have doubled or quadrupled but some are not around to enjoy the gains or are not even interested in those gains anymore.