All Forum Posts by: Aaron DeLaO

@Dalton Wilson I would suggest househacking in your first multifamily. You will learn a lot by living in it and managing it yourself. Plus it'll be cheaper than a hotel or anything else you would rent. Best of luck to you and thank you for your service.

@Courtney Jones thanks for the kudos. I'm interested in hearing more of what you're up to. I've been looking in the Columbus market and it's super competitive. I've been wanting to check out Dayton to see what's available there without getting in bidding wars. I'm also curious to hear if you are getting a 30 year fixed non-owner occupied loan what interest rate are you getting?

Eeek! What is that? Los Angeles? The rent to price ratio at .6 is pretty bad. You can get much higher investments. Also, a non-owner occupied loan over $650k at 4% is probably unrealistic unless I'm talking to the wrong lenders.

@Tyler Caglia Thanks for the story. I learned a lot from it and the replies. I'm from Sacramento and been shopping in Columbus but haven't landed my first deal yet. Maybe I have unrealistic expectations. It is super competitive there. Keep up the good work!

3.6 -3.6% non-owner occupied 30 year fixed? Where are you getting that? Hook me up! I would say that the answer to your question depends on your goals. If you've owned those rentals for a long time when you refi into another 30 yr. fixed you are adding to the term so you won't be paying them off on the same schedule. You may also end up with a rental that has a mortgage balance but you've depreciated it as much as you can and you don't have that expense anymore. Or, maybe paying them off is not the goal. If you're pulling cash out will you make enough money with that money to make it worth while? Also to be considered is if you sell them you will have depreciation recapture and capital gains. Refinancing and pulling cash out leaves you with less proceeds upon sale to pay for those taxes or apply to the next purchase through a 1031 exchange. Just a few thoughts and I'm not a tax adviser (disclaimer).

Hey Bigger Pockets family. I'm wondering about the legality/liability of wholesaling in CA. I want to start investing out of state but I'm lacking capital. I was considering wholesaling but California is so highly regulated and unfriendly to entrepreneurship. And to make things probably worse, I have a CA Real Estate Salesperson license that I cannot put at risk. Have any of you looked into this? I can call the DRE this week and ask them what would happen if they received a complaint about a licensed person wholesaling but I'm not expecting to get good answer. What do you all think?