All Forum Posts by: Christopher Vu

Hello everyone,

I recently opened a home furnishings business in Santa Ana, CA. I sell supplies for kitchen/bath remodels, flooring, and kitchen range hoods. I'm looking to network and see if I can expand my market to other real estate investors who need quality supplies at better pricing than where they are getting it from. This is a new business venture for me that I am looking to pair side by side with my real estate investing. I want to use this to network and build relations with individuals in the space. If I can provide value to you, maybe in the future we can do a deal together.

Mainly I specialize in flooring. If you have any samples of vinyl, porcelain, laminate, or hardwood that you need for a rehab please reach out and I can do my best to find you a superior product for a better price. I also carry more refined / built to last kitchen range hoods compared to the one's commercially available at Home Depot / Lowes. If you need bathroom vanities and mirrors, I can also supply those as well.

Please reach out and let me know if I can be of service.

Thanks for your time,

Chris

@Account Closed The purchase price would probably be around 1 to 1.5 mil. So I will definitely look into the 7(a) loan. Thank you!

@Ronald Rohde I didn't think about venturing outside of the SBA loan for business's, but I will give a few lenders a call. Thank you for the response.

@Greg Dickerson Owner financing would be awesome haha. I will also look into this strategy.

@Account Closed okay perfect. Also what I was thinking. I was just tryna see if there was any other options than the SBA 504 loans. Thank you for responding to my post. Appreciate any feedback

Hi everyone,

Does anyone have any experience with getting financing for commercial real estate. I'm not looking for multifamily commercial real estate, but actually commercial real estate for office use. I'm interested in getting a warehouse with a showroom that I would be able to run a business out of and rent out the remainder of the building to tenants. Are there certain SBA loans that will assist with the down payment? If anyone has an insight on this, I'd love to chat.

Best,

Chris

I see your points. I will definitely follow up with my brokerage regarding this matter. I appreciate the input!

Hi Everyone,

I recently have gotten into wholesaling and was just curious about some of the legality and disclosures associated with wholesaling. I know that not all my leads are going to be okay with the cash price offered, but if I know I've encountered a motivated seller, how would I go about offering to list their house? I just don't want them to feel like it's a bait n switch scenario. If the numbers don't match up with what my investors are willing to pay, would it be okay for me to disclose I am an agent and could help them list their property? I would really appreciate any advice given.

Thanks,

Chris

@Alex Olson Thanks for the reply. I've been told that a lot. I am really interested in duplexs down the line for investments. I think in my area, the returns on duplexs (owner occupied) arn't as great seeing as the prices are so high.

@Joe Homs Thank you for the advice, definitely was leaning towards this a little more. Orange County is where I want to be forsure, but finding a deal I can househack for the price that I am approved for under FHA is gonna be an exciting challenge. Since I'm planning to live in one of the rooms, I know cash flow won't be an option yet. I'll just be happy as long as a majority of my mortage is covered, so that I can save up for the next home.

Hello all,

I am currently looking into getting my first property. I currently live in Orange County, California. The market here is kind of rough, but I am looking to establish at least a home base cause my work is nearby and possibly look to invest OOS in the near future. I have been preapproved for an FHA loan with max of $765,000(single family), $980,000 (duplex), $1,100,000 (Triplex), and $1,400,000(Quadplex). I am currently weighing out my options. I have money saved up to pay the 3.5% down payment for these purchases but have been struggling to have the numbers add up. I know that I eventually want to develop cash flow, but with these purchases I would have to put money in (which I don't mind paying because it is going towards the equity). I guess my main question is for my first property in my current location would it be better for me to look for a single family (preferably 500-600k) and rent out rooms or to try and get a duplex of quadplex and live in 1 of those units? When I do the math, even if I got a single family I would still end up paying up to $2000 to the mortgage and with a quadplex with 3 units rented out it would be the same (this is assuming no vacancies, if i get stuck with vacancies then i'd hope to have extra for a rainy day haha).

If anyone is an investor in the area or has any insights from past experiences I would love to talk. Please let me know if there is any additional information I can provide to further explain my situation.

Thanks,

Chris