All Forum Posts by: Vincent Guerrero

lots of good info on here. The value it's in the buy. You've gotta find that deal. Tons of mismanaged units, some in less desirable areas.  You've gotta get your ducks in a row so that when you've found the right place you can grab it. The public sights are good for figuring out rents in an area. I'd start looking in outlying areas.

sell

Your tenants issues are their issues. The tenant is responsible for the cost, he can take her to small claims court. The LAST thing you want is to get involved in someones domestic issues.

what is the best way to market a small apartment building in Orange county California?

How long has that person lived there, are they receiving mail from a school district or government agency? If they can establish residency, they can push for the notice. Having said all that, why is that person in the unit without being on the lease? For me, if a guest is staying for an extended time period, there must a legit reason and a specific time frame. If it extends beyond that then they need to be added to the lease, having done credit check and additional deposits. If they fail to notify me of the additional person I give them notice to remove the person with the understanding that non compliance will result in everyone being asked to leave.

the "rules" that people talk about are general rules, mostly used to determine if a deal merits further investigation. Ultimately, you have to work the numbers! Markets, type of property, and financing really determine a "good deal." 

I'm in

@Nadine Lajoie, you are a monster!  Congrats on another great deal.  I love to hear your success stories.

I agree with Joe Homs . If you've got that capital I would put that in several units, maybe in a few areas. Lowers your risk. Newport is a high priced area, some great opportunity, but I think you could get into some lower priced areas that might actually produce greater profitability.

Welcome!