All Forum Posts by: Ron Singh

 Sure. I have not bought as much myself in the last couple years. Still trying to pick up an off-market deal here or there. There's still money to be made, just the opportunities are harder to get. Picked up a sweet 9 unit last year. 

Can you find an off-market property that is a Quick Fix and Flip? 

If I was a new investor I would be educating and networking every day. 

Are you willing to go out of state? There are opportunities in other parts of the country.

Like I said I know what you're saying but there are people making money everyday in your Market. Try to mimic what they are doing.

@Ron Singh I did buy the property without a lawyer from the wholesaler. I met with the wholesaler and personally saw the property to make sure I wasn't making a decision blindly. The process went smooth, I had some help and guidance from my lender since this was my first purchase. I still own the property after 1.5 years and is rented out since Feb 2018. We finalized the deal in End of Oct 2017 but didn't get the possession until mid November. Rehab took almost 45 days and one month to list and rent the property and refinancing in March 2018.

Below are the stats on the property:

Purchase Price: 98K

Rehab: 20 K 

ARV: 180K

Rent: $1650

The biggest issue I faced was with the appliances (All upgraded by previous owner) in the house which were running at the time of renting the house started breaking down one by one.  I had to replace Microwave, Oven and refrigerator (all in built in cabinetry) within a year. Other major expenses to the property were the fence (shared with the neighbor who was unresponsive and unwilling to share the cost to replace it) and trimming large trees in the front yard and back yard. 

Hope this information helps and wish you luck with your investing.

@Nishi Lagoo

Hi Mike,

I suggest looking into the condo market. In the Bay Area, some parts of it still make sense for condos. If you tried to BRRRR in this area it can certainly work but you run into 2 major issues. 1 construction costs are at an all-time high and finding good competent workers to complete the job in a timely manner is very hard. 2. Finding the deal is ultra-competitive. BRRRR, in theory, make sense if you can complete the job and under budget to make it worth your time and energy

 Great Advice. I did my due diligence on rehab price and comps. I have few GC contacts that helped me with these numbers. And I am using all worst case scenario numbers here. I really liked the idea of vetting the wholesaler. I googled his company and found few reviews but that's about it.

Thanks for the help.