All Forum Posts by: Armando Gomez

But not interested in selling. And to find something that can give me that kind of  return is slim pickins

No they are not on deed, but they have a quitclaim deed that would be added but not recorded just in case something would of happen to us. 

@Matt Devincenzo yeah I will continue to live in California. Thanks for your feedback

Thanks for your insight and I am going to payout my inlaws. Now need a low doc cash out refi  only need about 150k-200k  have  the rest to payoff in-laws mortgage of 215k and pay over time the remainder of the 65k within 3yrs . If they accept.

I'm in a dilemma..should I sell the investment rental home and do a 1031 exchange or buy out my inlaws who are 50% owners or pay out my inlaws thru a cash out refi or HELOC and keep the home at full price at current market value. We paid 96k back 10+yrs ago worth 360k

It is paid off no loan . So would be to pay off 180k minus Real Estate fees and less capital gains which is (15% or 10%) anyone know ?

Current Rent under market value can rent for $700 more than and that would clear the caproash out refi mortgage payment with a low Real Estate tax or get the money and do a 1031 exchange and purchase outside of California

Which would be to identify a home within 6 months. pay a higher real estate tax of the new purchase price 180k.

So if I keep home and pay off in-laws 150k approx more than we purchased . And make $1400/month (way under current rental value) with possibility of renting at $2100 /month.

Or sell and do a 1031 exchange and try to find something that can give me that kinda of return outside of California.

And its 2 homes I have purchased with inlaws

Same situation. And they want to sell both. They are retired and just want to pay off their current home which the owe 215K.

Have to come up with about 280K or sell them

2nd home bought at auction for 55k and value now 350k and under rental market too. Can rent for $500 more in current rental market.

What is the best scenario for me?

Kinda know . But just need some reassurance.

I am looking to buy a property to rent, where is a good place to buy under 100k with high rental demand?

Great! Are you using a local  Realtor? and what type of financing are you doing? 

So does anyone know the terms and options on paying back the Forbearance, are they putting it back at the end of the loan, meaning the maturity date move it over to the months you did not pay? are the banks refinancing your loan ( a streamline loan) no cost loan? or a payment plan? has anyone already done any of these options?

Any News on Lake Havasu city for property for sale where to look at? who do you recommend to go or use?

Vacation Rental I am interested in buying

@Danni Catambay

I will be ready to buy