All Forum Posts by: Takeo Kingi

@Anthony Simboli

I haven’t looked at the property online yet, however my first question would be who pulled the comps? I’m hoping you didn’t just use Zillow to determine the comps and value because Zillow (along with other websites) lack quite a bit of information to give you an accurate value.

Secondly you need to remember that we’re dealing with the virus. Yes homes are still being bought and sold, but I’ll tell you in my current market the DOM have gone up from the pervious weeks and months.

That being said that’s the temporary norm to an extent. So I would first make sure you’re getting accurate comps from a realtor who knows the market and is able to property determine a value. Second take into consideration the whole buying, selling and days on market are longer and finally if you have a reliable source for the value maybe let it sit another two weeks and see what happens. If not consider a worth while drop in price.

Best of luck.

Lmao this is the most negative post ever. Y’all need to cheer up a bit. Focus on what you can control during this time, spend time with your family, stay active. If you’re on here posting it’s safe to say you probably have your health. Without your health nothing else is relevant. Cheer up, stay positive, we’re closer to a vaccine then we were 1 month ago. Turn off the news and turn on a family movie, play some board games. If money is tight don’t be “supporting local businesses”. Support your family and yourself first, you can’t pour from an empty cup. Use this time to read, educated yourself, consider other future avenues for revenue. Let’s learn from this event. Stay positive.

“History teaches us that new opportunities are born from the deepest moments of crisis” - Giorgio Armani

Only have one door but it was paid a couple days early. She’s been a solid renter so far. She is in the medical field (not an RN) so I’m assuming she’s still working during this.

@Adam Rasmussen can you elaborate on it being more beneficial if you’re considered a real estate professional?

I currently live in CA and have one SFH rental. I'm looking to purchase a multi family next.

I’ve been searching around parts of CA to invest but I’m getting curious about out of state investing (hoping to get a bit more bang for my buck).

Just curious if you’re investing in Arizona what areas are you investing in/considering and why? I’d like to have an idea of what areas people are dabbling in.

Thanks in advance for your help and input!

Thank you all for the helpful information, I love hearing different opinions so many investors have multiple ways to make it work. I’ll be researching RUBS and inquiring about separate meters if possible. 
Thanks again everyone!

Hey guys,

I'm currently looking to put an offer in on a multi-family. The way it's laid out is a SFH(2+1)plus a studio on one lot. As of now I believe all utilities are on one set of meters. So based on that scenario I'm curious as to how some of you approach handling utilities.

I know there’s different options my goal is to avoid paying them myself (curious if anyone’s got creative) but regardless id like to hear what input you guys have.

Thanks in advance, this will be my second rental (potentially) but my first multi family.

Thanks for your responses, I had heard in the past there was issues with people looking at those sites and assuming that was their home value so I was interested in hearing input. Sounds like they’re typically way off, good to know. Thanks again guys!

There’s quite a few websites now that estimate the value of your property. I curious what metrics they actually use and how accurate/inaccurate they are. From your experience have you found that websites such as Zillow.com are fairly close when valuing a home or are they way off?

@Paul Bommarito

Enough people have already chimed in but this really was a big eye opener, I’m glad you posted it. Like so many others have mentioned there’s multiple ways to succeed in the RE but finding your niche, something you really enjoy and are passionate about will always be best.

I’m glad you mentioned this, I’ve found this in my other aspects of my life and it’s good to know others are experiencing the same thing.

Thanks again for the great post and thanks for the great responses from everyone!