All Forum Posts by: Ryan Zomorodi

Hey BP,

I'm currently looking at a deal to flip and have run into some challenges!! 

I'm analyzing a flip in a mixed-use 55+ mobile/manufactured home HOA community, and I've learned that the home I'm analyzing is indeed a manufactured home. Comparables in the area seem to consist of other manufactured homes, "stick-built" homes, and detached homes. Agent says on the tax rolls all of them are manufactured homes, even the ones that are "stick built."

My team has never dealt with this type of real estate, but, all else considered, it looks like a deal that may work with our business model. 

My challenge: how do I compare "manufactured" homes to "stick-built" homes to "detached" homes in this community? Which one's have greater/less value compared to the others? To be honest I'm not entirely sure of the difference between the types.

The seller has also countered my offer saying she will not provide a 443A.. anyone know if this is something important for me to consider?

Thanks in advance for your input!! --RZ

@Kevin Fox Awesome idea, thanks for taking the initiative. Would love to join this group and attend / contribute regularly. Early January 2016 works well for me, I'll stay tuned to this thread for updates. I'm in the Pacific Beach area. Looking forward to meeting everyone here!

Hey @Douglas Skipworth, 

My trip to Memphis was phenomenal, thanks for following up! Well worth the time and cost to get to know the market, team, and property that I've been working with. There's only so much one can grasp from virtual research, images, phone calls, etc. so to experience first-hand was very insightful. Spent the day picking the brain of the seller and team that I'm working with, so that alone was valuable.

I would recommend that any out of state investors make a trip out, to meet the team and get a feel for the area. Would have loved to stay longer and meet all the BP members in the Memphis area, there's always next time. Definitely will reach out on my next trip!

Thanks again for your warm energy.

-Ryan Zomorodi

@Alex Craig Awesome to hear! From what I've heard, it seems like a solid area to invest, considering the steady rental demand and quality of tenants, among other factors. Thanks for sharing!

@Douglas Skipworth Fantastic, thanks for the warm welcome to Memphis. Will be in touch to coordinate something while I'm in town. 

Thanks All,

Ryan Zomorodi

Thanks @George Chang, @David Hutson, and @Alex Craig for all the great tips!

@Douglas Skipworth Yes this trip is mainly for the property in Oakland, as well as checking out the area for future investments! I'm staying in hotel not far from the airport, and have all day 10/19 riding around with the seller. Going to tour different markets, check out different types of houses and get a feel for the area. My first time in the state, so excited to see a different part of the country. I would love to meet with you and chat at some point, although it is unclear how much I'll be able to conquer in one day, and I'm somewhat tied to the seller in this instance. 

What part of town are you located in? Would be great to work something out.

Hey All,

I'll be visiting Memphis, TN for the first time next week, for the purpose of conducting further due diligence on my first investment rental property that I have in escrow at the moment.

I'll be riding around with the seller of the property, who has agreed to take me on a tour of different sub-markets within the greater Memphis area (for future investments), as well as a tour of the property itself.

I would like to make the most out of this trip, so I'd like to ask if anyone has any recommendations on how to make the most of this trip, i.e. questions to ask, markets to visit, people to meet, checklist at my subject property, and overall what I should be doing on this trip. Any input is valued and appreciated!

Thank you,

Ryan Zomorodi

Thanks for the warm welcome and support everyone!

@Douglas Skipworth thanks for the recommendation via PM!

@Bruce May I appreciate the support! I've noticed your generous contributions to the forums and your website is very helpful too. Thanks for the all great content! P.S. I moved to SD from LA (Pasadena), Venice beach is a groovy place!!

Hello Bigger Pockets Community!

I want to take this opportunity to introduce myself, and thank you all for contributing to my real estate education. My name is Ryan Zomorodi and I have been listening to the BP podcast for over a year. After graduating from San Diego State University, I began working in sales for one of the largest food and beverage companies in the world. The 12-hour work days provoked me to question life, and led me to seek ways out of the “rat race.” I was inspired by friends who were doing well in real estate, so I spent all of my “free” time driving, running, cooking, etc listening to these podcasts, which helped me cope with the lack of work/life balance and to discover a way out of this corporate nonsense.

Fortunately, by listening to Josh and Brandon, as well as other sources I’ve found, I’ve discovered the power of passive income through rental property. My parents own two rentals that I help manage, but until recently, I hadn’t realized that this type of asset could be my ticket to financial freedom.

I began my search in early 2015 to find my first rental property to purchase and cash flow in San Diego. Soon enough, I found out that inventory was very tight and prices were very high (at least where I was looking). I considered a house hack, however the homes that I could afford were in areas that my friends and I did not desire to live (I share rent 4 ways in a condo on the beach). The numbers did not make a lot of sense, so I took my search out of state. In addition to BP, I listen to Jason Hartman’s Creating Wealth podcast, The Real Estate Guys, and Get Rich Education. These programs all spoke highly of turn key rental properties, in linear markets, where cash flow is strong. This has lead me to work with one of Jason’s providers in Memphis, TN, where I now have an A Class home under contract. Scheduled to close within 30 days. I will be flying out to tour the property and city in a couple of weeks.

My goal is to build a portfolio of rentals and investments, so that my passive income exceeds 20k per month. This will serve as a platform for me to pursue my passions full-time in music, travel, philanthropy, surfing, and much more.

Feel free to reach out anytime, happy to be a part of this great community!

Sincerely,

Ryan Zomorodi