All Forum Posts by: Ronnie Galindo

@Edward Corinealdi, As @DJ Dawson said you should elaborate on what you are bringing. Are you the boots on the ground and are looking for an equity partner? Are you the equity partner who just wants help on doing the project? Are you looking to flip, or BRRRR, or...? Anyone looking for a partner would love to know all these questions as they will determine the ultimate end goal! Good luck and Happy Hunting!

@John Mazzella Awesome!!! Good luck and if you need anything or just want to chat, hit me up!

@John Mazzella, In my research, not only has Columbus been booming with job diversity and population growth but there has been such an uptick in investing that neighborhoods are going through gentrification so one neighborhood that seems infested with crime, may be being bought up by investors and turned into a gem. I have seen several houses on the market that have another investor flipping or rehabbing a house just a door or two down. I think some of the c+ to b- neighborhoods will be coming up and there is a lot of money to be had. 

With that, I would second what @Remington Lyman said. Reach out to an agent (Any of the ReefCo guys can probably be a great reference point) and speak with them about what you are looking to do. Once you find the one that fits, ask them for referrals on General contractors, Property Management, Lenders, etc. You will find that the Agent is the key stone to the team to help you set it up and like David Greene and Brandon Turner say "Rock stars know and work with Rock stars." Good luck and don't hesitate to reach out and connect with people! 

@Evan Cook, I did find a FB group and posted on it. Apparently the members on there didn't want to meet in person back in 2018 so maybe after Covid, I will look to get something going! I will keep you updated!

@Leslie Hsia, remember (as David Greene and Brandon Turner Say) the 1% rule is more of a guideline than a rule. If you don't have the time to analyze all the properties you are looking at then that makes sense but I have found that some properties will still cash flow and also appreciate that don't meet the 1% rule. Become a PRO here on BP to use their calculators and really run the numbers. You will find that not everything will meet the 1% but will cashflow $300+ per month with 5% for maintenance, vacancy, cap ex, and 8% for PM. 

Also, things on the MLS are not going to be that great. Pick a market, find an agent, and let them bring you off market deals. If you are looking at Columbus, the ReefCO guys are great (I use @Zeke Liston personally) but all are very active here on BP and should bring you off market deals. Good luck and don't hesitate to reach out!

@Jc M., Wow! only .6% is the allowable increase?! I did not know SF went so drastic on limiting the increase rate. Wow, just Wow. talk about being tenant friendly. That right there is why I am scared to invest in CA because it could be a matter of time before all of CA does something that crazy! Well now I see why lowing the rent is such a burden for you!

As for the homeless, yeah, being Law Enforcement, I see it everyday with the drug users and mentally ill homeless population. I wish there were options for the citizens that these transients burden but unfortunately CA makes that really hard, especially when we can't even kick them out of they are on public land, we have to "give them notice" to move (basically evict them) and then they leave all their garbage. You should ask the police captain over there if they have a Problem oriented policing unit or community oriented policing unit to see if they can focus on your neighborhood. The one thing homeless people hate is attention from LE. Good luck and look towards the future, maybe it is far away from SF, at least for now.  

@Jc M., you said you don't want to lower the rent because of the rent control the good people of our state voted for, but if it allows you to stay in your home, then why not lower it. I mean it is not ideal but hey, eventually (raising it what 5% max per year) you'll be able to bring it back up. Real estate is like a wave, SF will bounce back but it will be time that is not in your favor right now. If you cannot think of any other way to make it work, then what Steve said is a good bet to save you 3-6% by not using an Agent. 

As for the homeless population, install bright lighting and cameras if possible. Most of them want to be left alone and in the dark at night so this could help. SF used to be the place to go for fun and entertainment for us all around you but today I don't even go there if I can help it and don't recommend it to friends or people I meet due to the lack of leadership I have come to see. I feel for you and hope you are able to figure out how to weather the storm!

Stay strong and as they say, "out of desperation comes opportunity!" You got this! Good luck!

I am a Deputy in Napa County and wondering if there are any LEOs in the area of Columbus, OH that are on BP and getting work done? Would love to network and connect with you so that I can rack your brain about problem areas and just share war stories. Let me know who you are! Also, come to Napa. Would love to help you have a great vacation here!

@Kerry Roberts Welcome! Yes, I agree with Michael, house hacking is the way to go! Look for a duplex or triplex that has one unit available for your to live in then rent out the rest and live mortgage free! It is possible but know, Sac is on the up and up for appreciation this year so there will be a lot of investors looking at that market. Build your team and be ready to strike because the houses won't stay on the market for long (at least the really good deals). I would advise getting a PRO membership here on BP (Don't worry, I'm not sponsored) and watch the webinars on how to offer on properties as well as research landlord laws here in CA (they are very tenant friendly). Become the expert so you don't end up in a bad situation. 

Also the calculators will allow you to analyze deals quickly so you can put an offer in faster knowing your numbers are solid! Good luck and if you need any help or wanna chat, let me know! Take care!

@Richard Cisneros, as someone told me, I will pass on the disappointing news. Per CA business and professions code, you have to have a real estate license to deal in wholesaling. 

Business & Professions Code section Section 10130 which provides in part: "It is unlawful for any person to engage in the business of, act in the capacity of, advertise as, or assume to act as a real estate broker or a real estate salesperson within this state without first obtaining a real estate license from the department..."

Now this doesn't mean you can't look for deals and then when you find one, look for a partner! You just can't get it under contract with the intention of selling it off to an investor. What I am doing is driving for dollars in Napa and then, if I find a deal, I will reach out and find a partner that wants to put up some capital while I run the project. Then we will sell the property and split the profits. 

If you need any advice or would like to chat, let me know! Take care and good luck!