All Forum Posts by: Alex Castillo

Hello Everyone, 

I'm a new wholesaler. I'm looking for a wholesale friendly title or escrow company in los angeles or orange county. Any recommendations of who you have used in the past for wholesaling?

Thank you!

@Michael Robbins

Thanks for the feedback Michael.  This is an interesting idea that I had not even considered. Do you have any specific suggestion on how to go about finding and attracting these type of renters?

Thanks for your replies.

So to give even a better explanation of what I'm planning I am looking into investing in my first home. I recently started working in Las Vegas. I have family and friends back in L.A. and basically travel back there on weekends together with my wife. I'm planning purchasing a home in Vegas and splitting up a bedroom and bathroom so that I can airbnb to help pay the mortgage. Recently I got the idea to rent out the space where I live on all those weekends in which I'm in California and the home sits empty. Any thoughts or suggestions on this?

I started doing some research and I see that in Las Vegas certain areas require the Homeowner to "live" or be "present" while the str guest is also there on premises. This seems to throw a curve into my plans. Is that something that would prevent me from carrying on my plan I just mentioned? Or as long as I am living in the property the majority of the time, then I would be ok?? Any ideas or suggestions would be appreciated.

Thanks 

Any suggestions on how or where to start to lear about str? I'm looking into buying a home in vegas and house or duplex and hacking with airbnb or similar. I've been reading that there are some areas in Vegas in which this is not allowed and/or the owner "needs" to actually be "living in the home" at same time they're renting out to str guest…? Is this accurate? Is this the only way to do so? Would I be able to also rent out my residence for the weekend and go with a friend during the weekends? Is that allowed?

 Any feedback would be much appreciated. 

Hello, 

I was wondering if anyone knows if Eureka, Ca is good for STR? Any help would be much appreciated!

Thanks!

Thank you so much @ Bill Exeter for the response. It took me a bit to get the information from my brother, which handles most dealings of the property being sold. Here are the answers:      

Its owned in an LLC and each family member owns a percentage of that LLC but the relinquished property is owned under one single LLC.

Thank you!

Hello, I am in need to go into a 1031 exchange. It would seem that I'm an experienced investor if I find myself in this situation.  However, I am not. I actually dont even own my own home, I currently rent. The only reason I find myself in this situation is that in a few months my family is selling a property in the near future. This is the first time that the partners (parents, my brother and myself) are going our separate ways with the profits of the sale. This is the reason I find myself in this situation. 

I believe I understand the financial aspect and the minimum price range of property that I need to purchase in order to qualify for this 1031 without getting taxed. With the share that I receive I will then have to get a loan to complete the purchase. However, Some of the questions that I still have, are the following: 

- Can I buy any type of multifamily? Does it need to be something that would normally qualify for fha loan? 

- Does it all need to be invested in "one Property"? I believe that I need to get something like with 5,6 doors. Therefore, I'm wondering if I can also venture in getting two separate duplex/triplex? Or all needs to be invested in same property?

- Can it be a "fixer upper" type of multifamily, something similar to be able to brrrr? If so, Would I be able to use part of the loan for the rehab?

Any type of help would be much appreciated.