All Forum Posts by: Chris Purcell

Jumping in to real estate was a well-calculated move. I live in San Jose, and this market is notorious for making people lose faith in their ability to purchase. 

I bought my primary residence in May of 2017 - a brand new million dollar 3 story 2200 sq ft home and closed on a 500k vacation/rental in Lake Tahoe right before the new year. 

The primary was financed with 10% down and the rental was financed with 20% down. 

I strongly believe the the community I purchased my primary in has massive potential upside, and have been blown away by the prices i've seen my neighbors sell their properties for within just a year of owning. 

I'm sharing this in the "success stories" section because I can't stand how discouraged people get, and I truly despise the mindset of "i'll just wait for the market to crash"

We need to find a way to make it work - no one will do it for us

Was wondering if anyone had experience House Hacking in the Bronx? Or even any large city where rent and property prices are high. I was looking into the idea of using a low money down loan to purchase an apartment somewhere in the Bronx, renting out the other rooms to pay off the mortgage and live for free or very little money. Has anyone had success doing this? From researching apartment and rent prices in the Bronx it looks like I would be able to do it, however I'm not sure if I am missing any important information. Any info for a newbie like me would be appreciated!

I had sold everything beg of 2006 and moved to Florida and then California. Started buying houses after the market crashed for 10K in a particular neighborhood and everyone told me that I was nuts. 

Low income tenants were very difficult to deal with, because they simply didn't have savings and any emergency resulted in them using rent money, with the idea that they'll catch up before the eviction was finalized. Usually didn't work. 

Had to buy with cash, because nobody would lend in the area, especially on 10k houses. 2 years ago I was finally able to start refinancing.

Now the market has turned and I get inundated with postcards and calls from investors. 

I am currently trying to sell my home in the Grass Valley CA area and my realtor tells me I have to take a 30K loss!