All Forum Posts by: Sarah D.

Thanks for the input!  They appear to be better quality than the off the shelf Home Depot, maybe $500 more for a 10x10 kitchen?  We're installing our first ones this week so I'm excited to see how they go. 

@Ashley S. From what I analyzed while looking you really needed to be at 4 units, occasionally 3, with 10-20% down for the property to cashflow.  I'd be happy to share our purchase details if you'd like, just PM me.  

@Ashley S. That is a pricey area!  And I agree about SD being pricey as well.

Take my comments with a grain of salt; my husband and I just made our first investment which is a 4 plex in SD.  So I don't make those statements about staying local from years of experience, but from the experience as new owners.  There is a definite learning curve, and having people and resources you can trust is key.  I know there are a lot of out of state investors on this site, so I'm sure you will be able to find lots of resources and 'boots on the ground.'  Keep up posted on your progress and findings!

Side note, I agree with using the $100K as DP for 3 properties.  Money is cheap right now, and that leverage will spread your risk and increase your returns.

@Ashley S. Where out of state would you buy?  How would you buy it (turnkey, build your own team, etc)?  I know some people have great luck investing out of state, but you have to buy right and have the right team in place.  If you are buying from a turnkey in cash I wouldn't count on much appreciation, based on what I've read.  Again, could be great but it seems you have to do a ton of due diligence without the built in ability to easily drop by and check on the property, learn the market, etc.

Where is your kid in college?  Is it a strong rental market?  Can you buy a condo or small house for them to live in, and maybe have them rent out the rooms to cover some of the costs?

For all the local San Diego folks, I think the location of @Tim G.'s property is a great reason to consider selling. I suspect a 4 plex in Ramona is not going to whether a down turn as well as SFH in Ramona or a 4 plex in central San Diego (beach cities, North Park, etc). I would at least consider moving the equity into an underperforming 5-12 unit in central SD in order to maximize returns and have a new challenge.

@Euan Arcia it's a great area, and your business model is so clever given that most buyers in that area want perfect homes or nothing. I don't know any retail buyers in Del Cerro who would buy a fixer (our kids used to go to school there so we know a fair number of families in the area). I also love that you are disproving the myth of not being able to make money in SD flips. If you make major improvements and do excellent work it's very possible. Can't wait to see your next one!

Gorgeous work!  Every time I pass a flip in that area I wonder if it is one of yours.

@Douglass Benson thank you, that's an excellent idea!  

Hello,

I'm about to start rehab on a 4 unit apartment building.  I was wondering if people buy items in bulk for apartment rehabs?  For example, we will need 16 ceiling fans and I'm wondering if that quantity can be purchased at a discount, and if so, where?  

Thanks,

Sarah

I agree that the gender gap will close in the coming years. I'm about to be an investor along with my husband (about to close on a 4 unit property). We are a team, but I take the reins on REI and our finances. I'm the boring one, he's the fun one. I didn't realize until this thread that there are so few women investing in real estate, but I often don't notice things like that. Additionally, I work in biotech and the company I work for has a significant female presence (30-70% depending on the specific group). So perhaps this also skews my view of actual gender gaps?

One of my main motivations for pushing us into this is to have more flexibility with my time.  One of the things that will keep me hard nosed about running our business like a business is the reality that my time is not mine right now, it is traded away for W2 income.  I'm surprised more women don't invest for this exact reason.