All Forum Posts by: Alfredo Coria

Hi There:

Do Manufactured homes get depreciation tax credits like build stick homes?

Thanks.

HI There:

Thanks for reading my post. From the outset know, that I know that the property ( 3 acres) I am trying to develo is in Riverside County, and  that the county

does allow for onsite dwellings.  My idea is to start with two manufactured homes. Hence my questions:

1) What type of loans are out there to finance this type of project?

2) What type of landing sources are out there to finance this project?

3) If the market continues to go down, what should I be cautious about in developing the property now rather than later?

Any other FINANCIAL aspect that I am not thinking about?

You experience and expertise are appreciated.

@John Warren

@John Warren thanks for the insight. Would a line of credit be seen as a debt when the underwriter is reviewing your finances? If yes, would that limit the cost of a home one can buy? I see the line of credit as beneficial when it is big enough to cover the full price of a home---thoughts? Otherwise, you would be adding more debt and hence less power to purchase a property, right? Also, I also see it beneficial if the line of credit is big enough to ensure a 20% down payment and hence not paying the PMI insurance; if this is the case, then the balance act is whether the higher interest rates are less than the PMI and mtg payment, but no one really knows what the future interest rates would be, so here is the uncertainty. Ultimately the benefit of the credit line would be purchasing a second property, lower mtg payment, no PMI in exchange of another debt which interest rates will only increase through time...is this the right reasoning or did I miss the mark?

Hi All. As houses have increased in equity, what are the positives and negatives

of getting a credit line in that equity for a next purchase? Aside higher volatile interest rates, what else to be cautious about?

Hi All. As many of you, it is that time of the year where taxes are due and I am searching for insight on how I can take deductions for a second rental property. According to my tax person, since our income was over a specific mark (150K) and since I am not an investor, I cannot take deductions for a second rental property.  Any thoughts?

What do I need to do to classify as an real estate investor etc....? I am trying to account for over 7k of repairs on the second property.

Thank you All!

Hi All:

Any tips on how to rebut and appraisal that it is lower than the offered price? Aside Comps comparisons, any arguments that have helped your application? THere is 20k Gap.

WHERE ( best source) can I find information about (or potential) distressed areas due to Mortgage Deliquencies in Northern California?

How would you approach the financing aspect for modular dwellings? Build one, refinance, take money build more, refinance again, thoughts? Would you refinance your home (low interest rates), take that equity and build the first modular dwelling?

@David Edwards and @Eric Teran thank you both for such an insightful and valuable information. Eric I started my site analysis and I am surprised of the things that can be built in a R-R zoning area ( dwlings, residential plan, mobile park, raise animals, food, etc...). I need to find out more on the demand (future and now) for the area; I think I am leaning towards the modular process. David, what a great approach; I am highly considering your model and replicating what you are doing (lets connect; there is a lot I can learn from you).

@ JoAnn Lapin, yeap, I have to pencil out what works best.