All Forum Posts by: Dan Bee

This is great. I see that there are people from SoCal posting here.

Would it make sense to buy a piece of land and just build a house on it in Lancaster? I don't want to spend $300k on construction and then the house would be worth less afterwards because of the area it's in. Do you guys think building makes sense? How much would a one floor 3/2 house cost to build in Lancaster?

How do I go about finding the 4-unit buildings? Is loopnet the only resource?

Hi all.

I'm just starting out in real estate investments. However, what my wife and I have saved up needs to go into something we can live in. I want to be able to use our FHA or VA loan capabilities. I'm taking on a new job in Lancaster, CA which is said to have very affordable housing. Some people have recommended that we get a quad in the Santa Clarita Valley or in Tehachapi.

How do I figure out on average which quads have the best ROI, rental yields, cap rates, etc in which area? I want to compare the areas on average. Is there a report on the best ROI in Los Angeles and Kern county? I also don't think I can afford to take out a VA or FHA loan for more than $600k. The loans stipulate that we have to live in one unit. We may move out after a year.

Thoughts on how to find the best ROI would be helpful.

I have only $40k + closing costs to do this. Is it possible to get financing for this property to where the number's make sense? How would I possibly even qualify. Is this a good buy?

I like the area which is a plus.

http://www.loopnet.com/xNet/MainSite/Listing/Profi...

I have only $40k + closing costs to do this. Is it possible to get financing for this property to where the number's make sense? How would I possibly even qualify.

I like the area which is a plus.

http://www.loopnet.com/xNet/MainSite/Listing/Profi...

Hi all,

This is a 2-part question.

I was speaking with the seller’s agent and I told him that I don’t have a real estate agent. He said that he could represent me. I told him that I didn’t want representation from anyone and that I would represent myself. I told him that I think if I don’t have any representation, the owner shouldn’t pay as much in commission and could potentially lower the price.

The other question is that there is an non-permitted structure in the back. It's a 2/1. What are the permitting costs in los angeles? Could I lower the purchase price because it's not permitted? Here's the issue. I want to purchase using a VA Home Loan. Will the VA appraiser ignore the un-structured building? Will the VA says that I have to pay close to the appraisal amount? Thanks.

Am I a dreamer?

I have $25,000 to invest in real estate. I think it makes sense to invest near where I live (in L.A.). I would rather invest in a decent area. I don’t think I can raise much money for expensive real estate. What are you recommendations to invest in?

Let’s say that you had $25,000 and you wanted to invest in real estate somehow. But there’s a stipulation. You can’t use any additional monies i.e. partnering up, financing, etc. What would you invest in and how would you go about making the most bang for your buck?

What can the bank do to reclaim the $311,000?

I plan on buying some real estate at a tax deed auction sale here in Los Angeles. My mother made a good point about the bank. From what I understand, once I have won a tax deed, the property will be free of (most) potential encumbrances (is that right?). My mother asked me about what happens when the previous owner (prior to me) has a mortgage on the property. Can the bank potentially say that the property is their collateral for the mortgage and that if I don’t pay the mortgage (in lieu of the previous owner), a lien can be filed against the property? Are there issues where a lien can be filed or are there encumbrances that transferred based from the previous owner to the new owner (me)?