All Forum Posts by: Daniel Siapin

I've heard that contacting PREVIOUS landlord is one of the best things you can do (but not only thing you should do).  Current landlord may have some reason to hold something back for whatever reason, but previous has no attachments.

I use a sign in front, it's all I've ever needed.

I know others who have best luck with just a sign in front.

@Nick Mercurio

I've been in SFRs, and I'm right now looking into multifamily for long term. Or do a flip before I get into it.

welcome. Neighbor in Brea.

I haven't, but I have next month's meeting in my calendar. 

And yes, investing locally! Double meaning? I'm close, and my money is going to stay close. 

I see people afraid to invest in California because of cost and cash flow. BUT, like mentioned in a recent podcast, you don't become wealthy on cash flow. It's all in the appreciation. We see lots of that here!

welcome from Brea.

 welcome. Good luck, neighbor in Brea!

@DL Martin You mentioned "Brea", my home town, and that triggered a notification to me. I fall in that category of NOC. My primary residence of 5 years is close to doubling in value, and sfr investment (less than a year) has increased $50k.

My next endeavor is a 4plex here, but they're knocking on a million dollar price tag, not to mention thin income margins.

I just wonder if appreciation may be better elsewhere -- for the moment.

@Andy Mirza  (did I put your name right?)

Early on in our planning, my wife gave me the green light on "House Hacking" for 3 years. I'm not too worried about cash-flowing on owner-occupy, since I'm definitely NOT cash-flowing on our current residence right now!! In addition, I can rehab as much as we want and get the write-offs (not to mention depreciation/interest tax savings!).  

Cash-on-cash is going to be dependent on several things, nothing I can pin down without an exact property I'm looking at.

I have been reluctantly entertaining the idea of investing in the IE, for exactly what you've been mentioning.  You might have a good idea in that.

@Nathan Emmert I wouldn't even dream of getting any 2% deals here!!

@Kimberly T. Things may be a little more difficult managing myself driving out to the IE every day.  Someone mentioned buying NOC and Inland Empire.  Maybe I ought to chew on that.

I'll investigate and report back if I find anything hitting 2% in the IE.

It's a little exciting, but I know it's a long process, (hence your 10 months turnaround).

You mentioned "great deals", what do you use to identify a great deal?  Initially I'm okay with a junker and vacancies.  That gives me the opportunity to get in and add some sweat equity; I'm pretty handy; what I don't know, I figure out how to do it myself (or I have lots of contractor friends).  Also if a property has some relatively high operational expenses, I may be able to bring that down by managing/maintaining/improving everything myself.

Sooooo, what do you consider a "great deal"?

Hi All, I'm new to BP.  I've lived in SoCal my entire life, and don't plan on changing it.  My wife and I are aggressive investors by nature, and we want to take it to the next level.  We have some nice assets that I want to leverage OR sell, then upsize our investments, then turn them into my full-time job (and our new home).

This is what we have:

1) We own a SFR outright (sell around $430k OR borrow $300k against it)

2) Our primary residence (make $160k if we sell OR borrow $60k against it)

3) Own a small tree service business

4) Residential development site (that $ is tied up for a couple years)

After getting mortgage pre-approvals, running scenarios and numbers, I realize I have around $400,000 to play with.  I want to make that my full-time job.  I figured 3 possibilities:

First Thought: sell both SFR's and aim at purchasing 2-3 4plexes in our area in need for some beautification (preferrably north orange county (Brea, La Habra, Fullerton, Placentia, Yorba Linda, etc)).

Second Thought: borrow against both properties, and find 2 mirroring triplexes (or 4plexes) in need of some help. I figured this would be a 6-plex and I can avoid a commercial loan (higher interest). In addition, I'll have both SFR's to rent out, and cash-flow nicely. I do realize that this plan may require me to sell SFR's, but if I can hold on to them, I'd be better off in the long run.

Third Thought: ask BP!!!!!!

If all goes well, my plan is to gift my tree business to my brother, then just pay attention to my REI.