All Forum Posts by: Ryan McKenzie

Hi Everyone! 

I'm not 100% new to Bigger Pockets, but I'm certainly "rebooting" my presence here and wanted to reintroduce myself.  I've had a busy last couple of years, I got married and my wife and I welcomed our now 8-month-old twin daughters.  Before that, I had closed my first wholesale deal, but as time is now more limited than ever for me, I'm changing paths.

In the next 12 months, my goal is to acquire my first 30-80 unit multifamily deal. I'm conducting market research at this time, but will almost certainly be investing outside of California.  My goal will be to syndicate my first deal, and take down an apartment community in some distress with value-add opportunity.  Longer term goal is to accumulate 200 doors and allow my wife and I to leave our day jobs to be with our daughters.  While I identify my candidate markets I'm reading everything I can get my hands on and sharpening my underwriting skills.  

I'm a 33 y/o working professional in Program Management for a broadband satellite communications company in Carlsbad.  I know Program Management work will lend itself nicely to multifamily projects.  I'm very eager to meet with multifamily investors local to Southern CA, anywhere from North SD county to South Orange County.  If you're open to talking to a motivated family man, I'd love to buy you a cup of coffee or a beer.  I'd love to learn how an experienced operator identified their target market, raised capital for larger deals, highest value activities for a newbie trying to break in to the space, and everything in between. 

Hope to hear from you!

Ryan McKenzie  

Hi Andrew, just wanted to follow up on this thread and see how the deal is working out?  

My wife and I are in Aliso Viejo and have a goal to acquire our first multi-family property (30-50 units) in the next 12 months.  We'll be looking into "nearby" markets, but not Southern CA.  Would love to network! 

Hi Senika, yes it's still available. 1350 S Farrell, Palm Springs, 92264. Let me know right away if you're interested, needs to close quick and access is limited. 

Thanks, 

Ryan 

Single family Palm Springs fixer located south of Mesquite Golf & Country Club between Sunrise Way and El Cielo Rd. under contract and ready to assign.

Property built in 1964 on a 10,454 sq. ft lot (.24 acres) and offers 1,800 sq. ft with 3 beds, 2 baths, 2 car garage, and a large backyard with a pool. Property will be delivered vacant. Rehab is moderate.

ARV: $560-600K
Ask: $430K (includes assignment fee; seller to pay their own closing costs)
Bed: 3
Bath:2
Sq ft: 1,782
Condition: Good to Fair (heavy cosmetic repairs, some mechanical likely). Rehab estimated at $30/sq. ft. Please conduct your own diligence.

Pros: Nice big yard and room to add square footage to jump up in the comps, tons of potential to bring current and fetch big ARV.

Cons: Located on a two-laned street; noise and traffic are non-issues, but could hurt curb appeal if perceived as "busy".

Hi all, I have a gut rehab in La Mirada, CA.

3 Beds/ 2 Baths
1305 sq. ft
6193 sq. ft lot
Single story
2 car detached garage
Built in 1955

Purchase Price: $410K
Repairs: $65K gut, including $15K of foundation work (raised foundation with crawl space)
*Roof has been replaced within last few years, great condition.

Comps are $520-$550K (and higher) for renovated properties.

Cross streets are Rosecrans Ave and Santa Gertrudes Ave in La Mirada, 60638.

PM me for pictures

Hi all, 

I'm an investor from San Diego seeking partnership with Chicago (and greater Illinois) area investors.  I'll be implementing a direct mail campaign and need a physical presence to meet with sellers, coordinate contracts, and perform general acquisition manager duties as I identify motivated leads. 

The ideal partners will be experienced speaking with sellers and have an established network including a reputable title company.  

Top marketing areas include neighborhoods in/around Chicago, East Saint Louis, Granite City, Rockford, Alton, Lansing

Please reach out if you're in/near one of the cities mentioned and would be interested in creating a win-win and we can discuss strategy and terms of partnership.  

Thanks!

Ryan McKenzie

Welcome Sean, I'm in Oceanside and was born and raised in Carlsbad. I'm a few months into a wholesaling campaign. Maybe we can work together.

Ryan

Hi there, I'm getting up and running in North County SD myself. Welcome, and hope to see you around!

Ben Leybovich you must be right actually. The owner must be mistaken in what he told me he rents it out for. It's a 3 BD/2.5 BA in a nice part of San Diego.

The property is a town home, 1428 sq. ft. with a two car garage. Average rent for the area is 1900/mo compared to the 1725 he is getting. I havent seen the property in person, but now that i think about it 1725 seems too good to be true for a 3/2 in that area.

The owner has had the property for 15-20 years, and from what it sounds like he doesn't pay much attention to it and doesn't hear from the tenants. I specifically asked him if he had a balance on his mortgage and he said he owned it.

Thanks Patrick L. that simplifies it for me.