All Forum Posts by: Loc R.

Hey Steve,

I forgot about Lancaster & Palmdale. I have a patient who owns a few rentals up there...good stories.

The 2% rule will not apply to LA County. At best you'll find 1.0-1.5% deals in the Inland Empire.

A better metric would be cap rate. In LA County MFRs are trading at 5-8% caps.

From the lender's perspective: How much "skin" do you have in this deal?

But to answer your question, you would need to have a very strong relationship with your lender.

If you feel that the property fits your investment criteria, putting in an offer isn't that much work. I have both friends and family members that acquired property when they were the backup offers.

(No comments on the probate question.)

Charley,

Congrats on your deal. It looks like a winner.

You can do the William Nickerson thing. Take the monthly cash flow, and combine that with a monthly savings program. Once you have enough saved up, repeat what you did with that first property.

Before you know it you'll have a nice portfolio.

Sorry about your name, Darryl.

Try contacting BP member Daryl Dahlen...

To add to Bryan's comments, at this point in my life I unfortunately have the utmost lowest expectations for anyone anywhere.

So, when you find a good one, keep that relationship!

I'd like to think that anytime you're selling anything, the more information you provide, the better the buyer feels about making a decision.

With that logic, if I'm an agent trying to sell a MAJOR purchase, I should probably provide as much information as possible.

I would feel better about a one-stop shop if they also handled property management, as well as maintenance repairs.