All Forum Posts by: Antonio Gonzales

Thanks @Manolo D.! @Anneli Villarin, I would be happy to provide you with our general terms and options for you. 

Thanks @Karen Margrave. @Davon Lowery, do you have any experience in development? Depending on your financial situation, you may be able to obtain a Bank Construction loan, but the banks generally have strict qualifying guidelines. Here is an article that is pretty informative regarding construction loans: http://www.moneycrashers.com/new-home-construction-loan/

It is very informative and provides some insight into the advantages and disadvantages. You also have the option of working with a private, hard money lender that will evaluate the project from an asset-based perspective. Since construction loans are generally riskier than a traditional fix/flip, a higher equity position is required to secure the loan. For example, we will generally lend up to 50% of the land value to cover soft costs leading up to the approved plans and permits. Then we can lend up to 100% of the construction costs based on draw schedule from your Construction Budget as long as the total loan will be less than 60% of the completed value. 

Be sure to do your proper due diligence when it comes to financing so you are comparing apples to apples. For example, some lenders will require you to pay interest on the total construction loan from the time permits and plans are approved and the loan is funded. Other lenders help you save by having you only pay interest on the amount drawn so far. Depending on the project, you may also be able to set up an interest reserve so the monthly payments are taken from the reserve you have allocated on the construction budget.

The key is having all the right experienced team members on board from your architects, engineers, consultants, contractors, subs, lenders, etc. Hope that helps.

@Charles Worth, I am a direct lender. We lend primarily in CA, AZ, NV, TX.

Request current inventory of Coming Soon Renovation Projects: Sustainable Realty Group

Listing Details

Gorgeous 5 Bedroom, 2 Bath Newly Renovated Home in Southwest Chula Vista, San Diego, CA on a 7,300 sqft lot!

215 Inkopah St, Chula Vista, CA 91911

Price: $489,000
MLS number: 160012739
Bedrooms: 5
Bathrooms: 2
Square Footage: 1,627

This rare 5 bedroom home has been completely remodeled including quartz counters, new slow closing cabinets, new flooring, stainless appliances, and much more. You will love the large backyard that includes a terraced area this would be ideal for your personal, organic garden. Perfect for a large family, this property won't last.

Chula Vista is the second largest city in the San Diego metropolitan area, the seventh largest city in Southern California, the fourteenth largest city in the state of California, and the 76th-largestcity in the United States. The population was 243,916 as of the 2010 census.

Located just 7.5 miles (12.1 km) from downtown San Diego and 7.5 miles (12.1 km) from the Mexican border in the South Bay region of the metropolitan area, the city is at the center of one of the richest economic and culturally diverse zones in the United States. Chula Vista is so named because of its scenic location between the San Diego Bay and coastal mountain foothills.

Founded in the early 19th century, fast population growth has recently been observed in the city. Located in the city is one of America's few year-round United States Olympic Training centers and popular tourist destinations include SleepTrain Amphitheatre, the Chula Vista marina, and the Living Coast Discovery Center, formerly known as the Chula Vista Nature Center.

Source: Wikipedia

Antonio Gonzales

CalBRE#: 01368061

Sustainable Realty Group

P: (619) 889-8579

E: [email protected]

W: www.SustainableRealtyGroup.com

Looks great! Where is the picture from the family room and master that captures the views! :)

@Account Closedshould be able to help with current meetings. I will keep you posted when we put one together. I will send you Colleague Request so I have you in database.

@Manolo D., I will keep you posted when we put something together. 

@Manolo D., I think for many Realtors, it is a lack of education in really knowing the rehab numbers. Their thought process can also be skewed by a subjective approach in trying to massage the numbers to meet what they see as the price needed to get the deal which may include an underestimated budget or inflated exit that is not a true comp. If they took a more objective approach and truly analyzed the property based on the numbers and accurate comps they would save more time both for themselves and the investors they are trying to find properties for. I do understand the mentality of the Realtor where they are trying to make a deal happen. :)

@Valerie Hiscoe, thanks for your input. I hadn't thought about the knowledge base of many of the members and resources already on site. Much appreciated. The thought on approaching Realtors is smart as well. They are definitely a focus group of ours as you would be surprised how many Realtors do not know a whole lot about the fix and flip process as well as the financing options available. 

@Harry Johnson, @Justin R.should be able to give me details on connecting at this event.