Hello my name is Gordon Cuffe. I am a real estate investor along with mortgage broker. I started buying rental homes back in 1992. I learned about landlording the hard way. I had to figure out how to evict tenants on my own. I didn’t have the internet to do the research. I benefitted from the crazy appreciation from 2001 to 2006. The mistake I made was not doing many more 1031 exchanges. The other mistake was over leveraging the rentals that I had in California because once 2007 came around the market starting taking the major hits in values and before I knew it I was upside down on the houses that I didn’t sell. I did a 1031 exchange and starting buying out of state properties where the values didn’t go way up.
I have continued to buy and wholesale homes out of state only because California had gone to far up in values for my comfort levels. I really like the St Louis and Kansas City markets because an investor can buy a home for 55k to 60k and get rents of $800.0 to $850.0 per month. You can also buy a 10k house for cash and sell it via owner financing to a owner occupant for 30k to 35k. I just did that so these are real numbers.
I continue to help people get financing for homes and I am also helping investors find homes to fix n flip in Sacramento and also small apartment buildings in the Sacramento market.
A person can get good cap rates on apartments in the Sacramento region compared to the bay area. My contact info is on the contact me page if you ever have any real estate related questons.