All Forum Posts by: Account Closed

I am very curious to where you think we are at now 6 months later on this post. I notice the market is still hot along with lots of cash buyers. DOM has raised slightly but prices still seem to continue to rise. I have not talked with any local RE agents to see if properties are going over asking but interested to see now what you savy investors now think.

@Account Closed Can you guys please explain where I can find these optimal sources of data points you refer to, for future purposes when the market does peak and begin to reset, I would like to be ready

Great post @Justin Lemaster and even better follow up post @Ryan Mullin

Out of state investing is very risky to investors that just look at the numbers and only want the highest cashflow they can find. Some are simply ignorant about the actuall rents that they can receive. They believe they can get high market rates (as quoted by TK investors) in lower income/"ghetto areas" which in reality there constantly fighting with there PM why it can't get rented or stay rented. Why they continue to fork out dollar after dollar just to maintain the 40k investment it cost to rehab due to the tenants destroying it after just a few months of living there.

Equity is your safe haven and golden egg in case cashflow isn't there due to major capex problems, vacancy, forced evictions, etc, etc. I personally count on equity with smart investments and a blend of positive cashflow. A blend of both is always best.

@Lily Scherman I would recommend you just sell as is. Its sounds like to much risk living so far away and having to put money into it that would would probably never get a return on if sold. First thing I would do is even check if the MH park will even let you rent. Then check your local apartment comparable rents in the area to see if its even worth it

@Arjan Amiri Most of the bay area MH have a "no rent" clause which would make it impossible for you to rent and cashflow. If you did find a park that did allow you to rent finding a loan on a MH is much harder than a conventional. MH for the majority do not gain equity unless in the heart of silicon valley. Not impossible but I think there are better options for you

Sacramento and lake counties can get you positive cashflows with low entry points and the bonus of 8-15% yearly equity. I just recently bought a 3/2 SFR for 80k/ 8k rehab/ 125k ARV/ Now currently renting for 1,050 a month.

PM me for details or more insights on markets surrounding the bay area

@Edward Sittler I will be calling them today to check rates however If anyone else is looking for the best rates on HELOCs I came across Common Wealth Credit Union and they have an introductory rate for 1.99% for the first year on 85% ltv.

Id love to see some more pics. I highly doubt thats the same kitchen and bathroom. The specs dont match up. Beautiful finish work either way

Under new ownership. Have them sign new contracts and on the new contract is the prices of new rents. Mail the contract with an introduction of new ownership and change of agreement after 30-60 days or date of your choice after.

We just had to do this on the same type of situation. They wont be happy but when they shop around they will realize there still getting a deal.

If you need any help with managment or anyother questions feel free to pm me.

@Matt Smith The benefits of investing in CA is the appreciation. You can get 8-10%+ a year appreciation on 100k property is an extra bonus ($833 a month equity cashflow on 10%) on top of your normal cashflow. Just recently bought a 3/2 SFR for 80k/ 8k rehab/ 125k ARV/ Now currently renting for 1,050 a month. This is in Northern CA. Pm me if interested in learning more.

If you don't care about appreciation then invest out of state. Where you can get a little better cashflow and possibly buy 2 turnkey properties. But just remember 1 capex ( roof, flooring, plumbing re pipe, etc. ) expenditure will set you back 1-2 years plus of your total cashflow. Plus higher overheads and higher risk of problems

Do you mind if i ask what your rates were? Looking for some i introductory specials or very low rates

Im looking for the best place to get a great rate on ONLY HELOCs . I have a co signer and now looking to find the best bank or credit union. I know there are many banks/credit unions that offer introductory deals or special offers. Just curious If there are any deals in the bay area that you BPers can recommend.

Thanks in advance