All Forum Posts by: Brian Halstead

That's cool. I hope it all works out.

I help buyers and sellers in your area. I know a mortgage broker who is my go to for people with questions like yours. Get in touch with Daniel Sosa and run all this past him. He will give you some great advise.  His number is (209) 298-8017. If Daniel can't help, he will point you in the right direction.  Here is his website:
https://centralvalley.mortgage/ 

Will do

@Clayton Silva Is another meetup coming up in the 209 soon?

That is a tough one. Is the owner really willing to sell the house? If they won't name a price, they probably are not interested in selling. That house has been in their family for a long time. The taxes on it are $500 per year. So, that house is basically a great paycheck for them every month. 

That being said, If they want to sell it, I would probably go in low at $175k and see what they say. I would definitely get an estoppel signed by the renter , or have the owner deliver the house vacant. Some quick repairs, and maybe put in a mini-split for heating and cooling and you would be good to rent that for about $1,200. Being that close to Lockeford Sausage should get a premium price;-)

In the future, think about putting an ADU on the property for additional income.

Good luck!

@Asha Singh, I figure your deal has already closed, or you have bailed out of it. That must be a huge deck to have $97k in damage. A 30 year old deck would have that kind of damage if it had not been well protected or maintained. Try replacing the deck with a smaller deck if you can. Best of luck with the home purchase.

@Josh Hurles, If you do put a manufactured home on the property, make sure you put it on a permanent foundation, then have a HCD Form 433A recorded with the county. This attaches the manufactured home to the property, which makes it real property and not just personal property. It will be easier to get a home loan on the property as real property, and you can pay the owner off with the new loan. You will just have to make sure you stick to your timelines. Below is the link to the Housing and Community Development (HCD) Form 433A. Good luck Josh

https://www.hcd.ca.gov/buildin...

@Sidney M., I was told there is a meetup at La Boulangerie 2324 Grand Canal Blvd # 1 · Stockton, CA. I heard the last meeting was at 10:00AM, so I assume this one will be at the same time. I have an event for my real estate team at that same time, so I will not make it.  Let me know how it goes. 

@Ryan Sario, I have been investing in real estate since 1993 and I am still scared to do deals. I look at all the what-ifs and it drives me crazy. I have done a couple of flips and bought then sold duplexes and SFRs. I still think I am crazy every time I buy something. I analyzed 60 properties on BiggerPockets before purchasing 1. I think it was Brandon who said to just go into the BiggerPockets calculator and analyze 5 to 10 properties a day to get the practice. I think that was great advice. Good luck with your studies, your career, and your investing.

@Cristobal Soto, I would start a relationship with a real estate agent and their recommended lender now. I have worked with people for over three years to motivate them and wait until they are financially ready to dive in. I hope it would not take you that long, but sometimes it does. It will also help you keep your focus on your goal. Sometimes, if you don't pay attention, lifestyle creep will take away your ability to accomplish your goals.