All Forum Posts by: Tim Jones

Do a search of HELOC and you'll find great post on it. I wrote up some stuff on it in the past

Cheers 

Hi @Gaurav

This one is easy...you want Araceli Gomez with Coldwell Banker. She is in the Atwater office and has a profile here on BP. She represented us on our last investment flip & just sold our primary residence & bought the new one.

Best of luck to you!

Tim

ps. Born & raised in SJ. Been in Merced 18 years. If you have questions about any particular neighborhood let me know. I know the market very well.

@Vinh Hoang

@Araceli Gomez is a local agent and does a great job! She bought and sold my last flip and is selling my current house right now. She can help you find something here and is very good at understanding rental property price points.

Happy investing!

Tim

@Rick Robles

I replied on my cell phone and it doesn't link to the thread names, not sure why....

In any case, I put your name here so it would ping you that you had a response on your thread, assuming you activated notifications.

TJ

@Rick Robles,

Congrats on your purchase!

The advice above is solid. What a great community we have!! When it comes to moving into the commercial realm, a good question to ask yourself is: "Can I be a better operator than the previous operator?" Translation: Can I run the asset more efficiently (raise the NOI and lower the expenses)? This is how commercial assets appreciate.

It sounds as if you're experienced in the rehab process and that you'll be able to force some appreciation. You might even be able to attack the expenses by doing things like metering the utilities, such as water.

I believe the key to your situation may lie in knowing the rents/amenities in the immediate area (6 block radius for example) and work to position yourself well in that market.

Any chance this is the 8-plex on Gumwood? I was just evaluating an off-market deal there not too long ago.

Best of luck,

TJ

@Jorge Barboza Jr.

Congratulations on finding a suitable investment property! That's very exciting. I just turned down an 8 plex, which was frustrating, but the numbers didn't support it...enough about me already.

Before thinking about down payments and ownership percentages, I would consider what role each of you will play with regard to management, repairs, etc. Time is money and if one partner is always on the phone getting bids, rent collecting, etc and the other is completely passive it will put a strain on the partnership. I would get all the responsibilities and strategy lined out ahead of time and then consider the money and value that each partner is bringing to the table.

I'll let more intelligent and experienced people discuss the LLC issue. BTW, they will want to know the property location (state).

Good luck to you!

TJ

@Flora,

1. What is your zoning?

2. Is it one (APN) lot or two?

3. What area? City or County? Address would be most helpful.

4. Congratulations! 

TJ

Good luck Hamde!

@Ryan Baker

You need a sick day...can you smell the pancakes?!?

Welcome!

Come on out and meet investors/flippers/lenders/agents/contractors, etc that are working in the area. All are welcome! This will be the 3rd meetup I've put together and I can say that I've met some great local people that I continue to work with.

See you there!

TJ