All Forum Posts by: Brian Mcmenamin

@Jim D. Bank has the right to call the loan, but usually wont as long as they are still receiving payments. The issue comes with the refinance. I have not found a bank that will give you a personal loan if you hold title in an LLC. Your friend will have to look at commercial options if he holds title in an LLC. Good Luck

@Account Closed I think you are making the right call Ben. I also think Oregon and California markets will be the hardest hit. Beaverton isn't a bad spot though. I have some family in the area. Can't beat those PACNORTHWEST Summers

Zone X covers a massive area from what I can remember. I'd look at target neighborhoods and zip codes vice flood zones. Utility costs arent super high, but I have my tenant pay for them. I only pay for sewer costs which is about $21 a month for my duplex. I will give Norfolk credit they are very helpful with utility turn on and off. You actually get someone on the line from the city to help. I definitely dont feel that way about SDGE in San Diego. Heat cost in the winter can vary depending if you have electric or gas, but as stated I have my tenants pay their own costs. I'd recommend finding a building that is separately metered or getting the units metered separately after purchase. Good Luck

@Adam Dobbins I buy mostly in ocean view, but inventory is limited at least compared to the prices that I used to purchase it for. Look near ODU too, I haven't purchased anything over there, but I've heard good things. Good Luck

@Adam Dobbins Look to Norfolk if you are looking at diversifying in Hampton Roads. Oceanfront is awesome, but I've found some great success in Norfolk. PM me if you want to talk specifics. Good Luck

Welcome to BP

@Parmer Cherry Painting is one of the best ways to save on rehabs. Its relatively easy to do, but is very time consuming. I would hire out for carpet install, electrical and major plumbing repairs. As long as your keeping the layout the same, you can pretty much find all your answers on how to rehab on Youtube. Good luck

@Jonathan M. I'm not a fan of condos, and would prefer the potential cash flow situation in a 2-4 plex in Austin. I'm not familiar with walnut creek. most of my investments have been in San Diego, but I'd take Cash flow all day. Good Luck

@Account Closed I would house hack, especially if you can find something to buy that is cheaper than your current rent. I bought my first condo in 2011 when I was 25 and still own it today. Best investment that I ever made.  Even if market tanks, you would still have a roof over your head, and rent it to offset your mortgage costs. Stay in your local market, until you get a good understanding of the inner workings of real estate investment. Denver is a a great market. Good luck

@Kevin Polite Price changes are happening across the country. Listings are staying on the market longer than they used to. I think Atlanta will be alright especially if Amazon decides to put their second HQ there.