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All Forum Posts by: Sherwin Gonzales

Sherwin Gonzales has started 14 posts and replied 225 times.

Post: San Francisco Happy Hour Meetup #10

Sherwin GonzalesPosted
  • Rental Property Investor
  • San Francisco, CA
  • Posts 236
  • Votes 155

Thanks for invite @Sean Walton and @Eduardo Zepeda!

Looking forward to meeting up with everyone! Just pinging some other people I've met that may be interested in joining.

@Shea Stringert, I just messaged you to see if you can join!

Hope you can meetup @Paul Choi , @Brandon Fox , @William A Edwards , @Brad Henson , @Daniel Pierson , @Jonathan Roszkowski , @Derek MacBay , @Ash Hussain , @Eric Li , @Timz Valenzuela

https://www.meetup.com/SF-Real-Estate-open-format

Post: Investing in the 209 (Stockton, Lodi, Tracy, Modesto, Manteca,+)

Sherwin GonzalesPosted
  • Rental Property Investor
  • San Francisco, CA
  • Posts 236
  • Votes 155

Welcome to BP @Account Closed and congrats on deciding a market to begin your investing career! I, too, would like to learn more about the Stockton market and where it's heading in the future. I just got a 16 unit property in Stockton and am looking to offer on a 15 unit, so would like to also hear anyone's experience in investing in Stockton.

Post: Newbie Investor From Hawaii!!

Sherwin GonzalesPosted
  • Rental Property Investor
  • San Francisco, CA
  • Posts 236
  • Votes 155

Eh Howzit @Scotland Ray Smith! Welcome to BP! Always nice connecting with fellow investors from my homeland! I was born and raised in Honolulu, Hawaii but now live in the Bay Area. All my investments are in the Bay Area and I primarily focus on commercial multi-family properties. However, I am interested in buy and hold and plan to invest back home in Hawaii. Like you, I am interested in Condos in the Metro Area. I plan to use this as my vacation home when I'm back on the islands and would like to rent it out, possibly Airbnb, when I'm away.

Would love to connect with you and other people in Hawaii already doing this strategy!

Mahalo!

Post: New to the wholesale / flip experience

Sherwin GonzalesPosted
  • Rental Property Investor
  • San Francisco, CA
  • Posts 236
  • Votes 155

Welcome to BP @Ignacio Leyva! Congrats and taking this big step and reaching out to people on the forum! I am not a wholesaler or a house flipper, but I do invest in commercial multi-family properties in the Sacramento and Stockton areas. I would suggest to you to check if you have any local meetups in the area than you can attend. You can do a search on the forums. I think I saw some posts recently regarding meetups in your area.

How long have you lived in Stockton? Do you know the market well there?

Post: Things to look out for when closing for a cash offer

Sherwin GonzalesPosted
  • Rental Property Investor
  • San Francisco, CA
  • Posts 236
  • Votes 155

@Jason Chen, congrats on taking action and making an offer!

I completely agree with the great advice from @Terry Lao. Make sure you are wiring your deposit and the rest of the funds to a legitimate escrow company. Always ask for a receipt to confirm the transfer has been received. The title company should provide this on an official document with their letter head and the amount transferred. Also, doesn't hurt to give them a call to let them know when you transferred the funds and to confirm receipt.

Seems like you don't have any other contingencies since you are foregoing the appraisal contingency, inspection contingency, and there is no loan contingency because you are offering all cash. At least you have a title contingency in place should you want to back out of the deal.

Good luck and keep us posted on your progress of this deal!

Post: Bedroom Conversion; Adding a Closet?

Sherwin GonzalesPosted
  • Rental Property Investor
  • San Francisco, CA
  • Posts 236
  • Votes 155

@Michael Seidler, when you purchased the property, why wasn't it listed as a 3 bed/ 2 bath already? Was the office an addition to the existing space and wasn't permitted so on record it reads as a 2 bed/ 2 bath? Is there a window in office? Some cities require a bedroom to have a window and have a certain ceiling height.

If you want to market the home as a 3/2, you need to pull permits and have an inspector come by for it to show on record as a 3/2 so that it will appraise as a 3/2. Though, I've come across homes that was advertised as a 3/2 but got appraised for a 2/2 because the bedroom wasn't permitted. This could give you trouble selling the house because the buyer would then need to cover the difference between the appraisal of a 2/2 and the list price of a 3/2. 

I hope this helps!

Post: Help with syndication

Sherwin GonzalesPosted
  • Rental Property Investor
  • San Francisco, CA
  • Posts 236
  • Votes 155

Hey @Paul D.!

Awesome that you are looking for creative ways to get financing for your deal. I found the podcast below to be pretty helpful regarding syndication.

http://olddawgsreinetwork.com/049-the-abcs-of-mult...

If you're real serious about commercial multi-family or just curious and want to learn more, I also recommend listening to Jake & Gino, Apartment Building Investing with Michael Blank, Best Real Estate Investing Advice Ever with Joe Fairless, and Grant Cardone.

Of course, there are countless other resources here on BP. I've all of these very helpful to get me started and taking action and purchasing my first commercial multi-family property.

Good luck to you!

Post: Building a community of small homes in California

Sherwin GonzalesPosted
  • Rental Property Investor
  • San Francisco, CA
  • Posts 236
  • Votes 155

@Ashley Moyer, what an awesome idea! Are you trying to build something like a tiny home community like the ones in the link below?

https://www.thespruce.com/livable-tiny-house-commu...

I think to keep costs down, prefab is the way to go! I'm working on a multi-family project at work now and the client opted to go with prefab walls for most of the walls. I visited the manufacturer and they mentioned the benefits of going prefab is the costs you save from on site labor and the schedule. On site stick framing tends to take longer and you'll have to pay for those framers on site. When I visited the manufacturer, there were two guys framing walls one after another in an assembly line that looked so efficient and quick!

Tiny homes and airstream communities/ hotels seem to be the hot thing now!

Good luck on this journey and please keep us posted on your progress!

Post: Condos VS Single Family Homes

Sherwin GonzalesPosted
  • Rental Property Investor
  • San Francisco, CA
  • Posts 236
  • Votes 155

@Samuel Wilson, you've already got some great responses to your question and I generally agree with everyone. I've owned both condos and sfh as investments, and I prefer sfh just because of the control I have over the investment. As many already mentioned, the HOA can be a real burden to you and hinder you from accessing the most value out of your condo. Not too mention the HOA fees which eats up into your cash flow!

With that said, however, it ultimately comes down to your comfort level and your goals and strategy. If you wish to Airbnb your investment, some might argue that a condo may be the best route instead of a sfh, especially since you are located in Las Vegas. You just have to decide what your end goals are and what you are trying to achieve.

Good luck to you!

Post: First syndication advice

Sherwin GonzalesPosted
  • Rental Property Investor
  • San Francisco, CA
  • Posts 236
  • Votes 155

@Garrett Hawk First off, congrats on finding a 51 unit property deal! You mentioned that you personally own 50 units and I'm wondering how did you structure those deals? I found the following podcast useful regarding syndications.

http://olddawgsreinetwork.com/049-the-abcs-of-mult...

Check it out and let me know what you think!

Good luck to you!