All Forum Posts by: Tuan Tran

Just keep in mind that student rentals, like short-term rentals is definitely more management.  You will need to furnish the entire unit and you will be competing with other short-term rentals concerning furnished amenities.  It is a different business model then your typical buy/hold and long-term rentals.

With a long-term rental, You provide an empty clean unit with functional appliances.  You manage way less then you do with a short-term rental.

I can't say about Davis.  My core business are long-term rentals.

Hi Yvonne,

I have multifamilies in Stockton that are cash flowing but I also got them several years ago and the most recent which was a year ago was at a very good price.

If you're renting to college towns, traditionally, you can rent per bed or bedroom especially if the location is walking distance from the college.  I've seen very successful college rentals specifically near Berkeley that have amazing cash flow.  However, keep in mind that college students can be very destructive if they are the "party" types.  You should target graduate students that are more educational focused.  You will have to furnish these units and this more considered seasonal or short-term rentals so you'll be competing against airbnb models.  However, the pandemic probably has greatly diminished this business model or you'll have to add more private space.  I cannot say for certain.

If you're a new investor then I suggest to rent near you unless you're planning to use property management.  You have to pick a very good management and ask them if they have investment properties of their own.  Otherwise, for newbies, all it takes is the first tenant to be a professional tenant to kill your dreams.  You absolutely have to cashflow on your first investments and have a cash savings to pull you through, in case your tenant stops paying.  You'll need overhead for appliance repairs, eviction costs and so on...  The biggest hump is surviving your first tenants to be in the green.  A tenant turnover is also very costly so you have to have a good first tenant.   You can pay a PM to screen the initial tenant and then take over the monthly to save on costs.

Good luck.

You have to pay in cash or reduce your contingencies...  Demand is at an all time high with the lowest inventory so yeah, expect this.  There's really no way around this outside of a bubble crash.

How do I register for this?

Thanks

Looking to buy a multi-familty in Sacramento.

Anyone know a bank with good terms for a commercial loan?

Thanks

@Willie Marquez

Hi, I'm also interested in the meetup.

Thanks

Thanks all.

I do have Rat traps, bait stations in the back yard and in the kitchens of all the units.  This was done years prior.

It's just that only this particular tenant is complaining in the triplex so I'm wondering if she is trying to scam me.  She hasn't been able to provide evidence of any droppings with pictures.  It's only been word of mouth from her.  Keep in mind, the other tenants are not complaining.  I have asked them directly also and they said there were no issues and they don't hear any traffic in the walls.

What should I do with a potential tenant trying to scam?

I have a triplex where the middle tenant says she keeps on hearing mice or rats running in the walls/ceiling. However, the side tenants do not report hearing anything. I've asked this tenant if she is seeing any droppings or other physical signs. She said no. She did give me a video recording that did have sounds of possibly movement in the walls but I cant say it was conclusive.

Anyone have any experience here and have possible suggestions?

@Austin Snowdon

What a coincidence.  This is what I just did with one of my properties and exchanged it for three lower values properties.

The other coincidence was that @Dave Foster and his exchange company helped us in that effort.

We still have to finish the taxes for it but it was a great experience with Dave and his company.

Good luck.

Yup, pretty much what I've concluded concerning my financials...  Thanks