All Forum Posts by: Charles Carillo

@Kerry Pangan

I have house hacked before but never wanted to live with my tenants. Does it need to be a single family home? Have you looked into purchasing a 2-4 unit property and renting out the other units while you lived in one of them? I feel that is a better route.

@Aubrey Hall IV

Have you tried LoopNet? I have listed there before and the price was not that high a couple years back. Not sure if they have increased it since. You could list it also on Craigslist.

@David Hutchison

I am not sure their exact terms but I have a couple lenders you could reach out to that work with foreign investors...DM ME.

@Dennis Chiu

I like the idea of having 4 units vs. 2 units however buying in a better area is probably the better decision. Also, the 4 unit has smaller units which might have more turnover. The 4 unit would need to be at a sizeable discount to choose than one over the 2 unit.

Interesting...tech companies based in San Francisco, California are not landlord/business friendly.

@Guevara M.

I am not sure if many lenders will refinance a $21,000 loan. If you find one that will; make sure the closing costs don't outweigh the savings. If you lowered the interest rate by 3% (for example) that is a savings of $630 a year. If they charge $3,000 in closing costs it will take 5 years to break even. This does not seem like a good deal. I would rather just increase my monthly payments.

@Julian Rivera

"Commercial proprieties" include many different asset classes; office, retail, self-storage, 5+ multifamily, industrial etc. What asset class are you referring to? The main real difference for a beginner with commercial is that there are no FHA 3.5% down payment programs for commercial properties. That is a great benefit for starting with 1-4 unit properties.

@Michael Valdez

We have rented most of our apartments just on Craigslist (Free) and Zillow ($10 a week). Finding potential tenants is not a problem; verifying and evaluating them is where the work is. Find a good background check program and make sure they 100% meet the qualifications you have set.

@Richard A Lozano

Find an independent insurance agent that works with landlords and have them find pull a quote.

When you are underwriting; don't forget to adjust the taxes!

@Kenneth Biason

When they are ready you can have the property appraised and offer them that. You could also find sales comps in the area from a Realtor (offer to pay them for their time since you are not using them to buy/sell) and figure out your offer from those.