All Forum Posts by: Robin Boyer
Robin Boyer has started 8 posts and replied 743 times.
Post: Multi-Family Refinancing/Strategy Question
- Surveyor
- Hemet, CA
- Posts 797
- Votes 112
@Cody L. let's connect I am also considering multiple family in San Diego!
Post: Multi-Family Refinancing/Strategy Question
- Surveyor
- Hemet, CA
- Posts 797
- Votes 112
@Nick Vought very interesting thread. I also am considering a multiple family. What advice would you give a newbie someone that wants to get a fixer-upper and increase the rent once a year and see it do very well.
Post: About to do start Demo - should I test for lead and asbestos?
- Surveyor
- Hemet, CA
- Posts 797
- Votes 112
@Mario F. interesting thread hope it all works out. Considering getting a 4 plex or so down in San Diego so that we have renters and one unit is a vacation rental. Any pointers on purchasing a 4 plex or any modifications you made to yours thank you robin. First time investor.
Post: First Flip in Phoenix Arizona!
- Surveyor
- Hemet, CA
- Posts 797
- Votes 112
@Chris Eley I am starting to build my team of people that can fix things improve houses such as your basics.
What am I missing? I have contacts for plumbers roofers Electrcian contractor painter floor person. I wanna get on a roll so I can kill this 1031 exchange!
Post: My First Multi Family Purchase in NJ
- Surveyor
- Hemet, CA
- Posts 797
- Votes 112
@Vincent P. how's your rental going? I am considering multiple family units as well now. What is it cash flowing how any other pointers? I been reading about single family's but a 4 plex is whole another animal!
Post: First Flip in Phoenix Arizona!
- Surveyor
- Hemet, CA
- Posts 797
- Votes 112
@Ray Lai we should connect I am considering a multiple family in San Diego.
Post: $135K Fix and Flip Profit In Seattle WA! Success or Not?
- Surveyor
- Hemet, CA
- Posts 797
- Votes 112
@Brian Cooke that's so great though you did a flip learned and still came out with a check very lucky! I am working on getting our first rental. I am thinking possibly a multi family and a few single family's to. A multi family in San Diego for real estate in one California's hottest places!
Post: $135K Fix and Flip Profit In Seattle WA! Success or Not?
- Surveyor
- Hemet, CA
- Posts 797
- Votes 112
Originally posted by @Brian Cooke:
As someone who makes less than that every year in a full time job, I'd love to make that on one house in a year, knowing there were other houses as well. My first flip I did earlier this year got me a whopping $6k profit in 4 months. But I totally understand the perspective of the hassle not being worth it if you normally are able to make a 25%+ ROI on houses in a much shorter timeline with less hassle and stress.
When appraisals come in at that kind 6k or so is it better to hold and rent or you as a flipper have to sell no matter what?
Post: $135K Fix and Flip Profit In Seattle WA! Success or Not?
- Surveyor
- Hemet, CA
- Posts 797
- Votes 112
Originally posted by @Tarl Yarber:
Originally posted by @Robin Boyer:
@Tarl Yarber awesome thread! Love the pictures to. I wanted to ask you something do you recommend doing the improvements in things for a rental that you would do on a flip? I am starting a land lording business.
Hey Robin. That all depends on your business model. If you are going for PURE cash flow and you have the money to put down and structure correctly, then do "rent ready" quality and look for pure numbers on ROI/CAP rate. However, I personally BRRRR any of my rentals. And in that formula, you must get a good solid appraisal at the end of the rehab in order to get your money back out of the property. This is most important if you are more concerned with having all your cash out of the property after the refinance. So I personally do Flip grade finishes in my rentals to get the highest appraised value at the re-fi. Where some BRRRR investors fail, is they run their Comps for ARV based on Flips, but then only put Rental grade finish, and the appraisal comes back lower than they wanted. So it all depends on your strategy.
Every investor/landlord should know this! I am going to put flip grade in my notes. I also wanted to ask you do you use a real estate attorney for every buy and sell? We are selling a commercial property in Southern California for 1 million bucks and I got a attorney in the in the rotation and a bigger pocket member realitor helping on the sell. But will be coming a land lord soon it looks like. I have been looking at foreclosures lately. But just as someone said there is a reason no one has bought those yet. What's your opinion thank you!
Post: First Flip in Phoenix Arizona!
- Surveyor
- Hemet, CA
- Posts 797
- Votes 112
@Chris Eley do you always use a real estate attorney when you buy or sell? I am helping sell my moms commercial property in Corona California we are listing it at over a million dollars so I wanna make some good moves on the basketball court!