All Forum Posts by: Cirilo Villar
Cirilo Villar has started 23 posts and replied 93 times.
Post: Is it possible to househack in LA?
- Los Angeles, CA
- Posts 97
- Votes 38
@Manraj Singh
A studio needs its own bathroom and small kitchen.
Viridi Construction actually does a lot of ADU's and the have a great program to finance them
Post: Is it possible to househack in LA?
- Los Angeles, CA
- Posts 97
- Votes 38
Originally posted by @Jon Schwartz:
Originally posted by @Cirilo Villar:
Thank you - this is my first property purchase - so then I can definitely qualify for an FHA loan....
Originally posted by @Craig Anderson:
Anything is possible, you just need to find the right deal in the right place that works for your budget. You can consider putting only 3% down since you'll be house hacking. Then have the rest of the money for cash reserves. LA is expensive, so good luck.
Cirilo,
Not *anything* is possible, but with a little know-how, you can totally househack in LA. A few things:
Firstly, go to naca.com and familiarize yourself with the NACA loan program. If you have the patience, it's an amazing way to buy a home.
Secondly, don't expect to live for free in an LA househack -- but that doesn't mean that LA househacks aren't worth it. LA housing, whether rented or owned, is extremely expensive. If renting an apartment costs you $2000/month while owning a duplex costs you $1500/month, that's a killer arrangement! You'll be building equity and appreciation in the duplex while lowering your monthly cost of living.
I'm househacking a duplex in LA. I don't live for free, but I pay about half what my tenant pays -- and I have the better unit!
Good luck!
Best,
Jon
My friend and I got hyped at reading your genius strategy !
With that plan, once I'm ready to move out of that duplex ill have residual income coming my way!
I'm also in sales (:
Post: Is it possible to househack in LA?
- Los Angeles, CA
- Posts 97
- Votes 38
Thank you - this is my first property purchase - so then I can definitely qualify for an FHA loan....
Originally posted by @Craig Anderson:
Anything is possible, you just need to find the right deal in the right place that works for your budget. You can consider putting only 3% down since you'll be house hacking. Then have the rest of the money for cash reserves. LA is expensive, so good luck.
Post: Is it possible to househack in LA?
- Los Angeles, CA
- Posts 97
- Votes 38
@Cody Barna
Downey, Venice, Santa Monica, North Hollywood, Gardena, Torrance, and Culver City
Post: Is it possible to househack in LA?
- Los Angeles, CA
- Posts 97
- Votes 38
I am planning on saving enough money to put 20% on a down payment on a four Plex in LA I’m starting to wonder if it’s doable. I want to live for free and try house hacking but I wonder if LA is a market where that is possible! 
Post: I have a 750 credit score how can I start REI
- Los Angeles, CA
- Posts 97
- Votes 38
Originally posted by @Guifre Mora:
Originally posted by @Cirilo Villar:
So ive been trying to get a wholesale deal for months now I have put so much effort and tried so many strategies with no avail. However I have been, simultaneously, getting my credit score up. How can I use my credit to buy my first property especially now that we are in a recession. I do not want to miss an opportunity.
Cirilo, what are you trying to get a fix and flip or fix and hold?
fix and hold im mainly looking for cashflow right now
Post: I have a 750 credit score how can I start REI
- Los Angeles, CA
- Posts 97
- Votes 38
So ive been trying to get a wholesale deal for months now I have put so much effort and tried so many strategies with no avail. However I have been, simultaneously, getting my credit score up. How can I use my credit to buy my first property especially now that we are in a recession. I do not want to miss an opportunity.
Post: Double Closing Wholesale Deal!
- Los Angeles, CA
- Posts 97
- Votes 38
So the other day I was on YouTube looking for different ways to obtain a wholesale deal and I found something called a double closing strategy which from my understanding is, when you get a sellers agent to work with you on a property and you have the agent work with you as your buyers agent! However, if I’m not using my own money to buy the property and the property will be assigned to someone else how can I use this agent as my buyers agent? Can someone clarify or explain how this would work I’m sorta confused
Post: Seller or Buyer who should I find first?
- Los Angeles, CA
- Posts 97
- Votes 38
@Lydia T.
Well I was cold calling a pre foreclosure list of leads I had and also driving for dollars
Post: Seller or Buyer who should I find first?
- Los Angeles, CA
- Posts 97
- Votes 38
ive been working at getting a wholesale deal for months now with no avail. I get opposing advice like that one should work on leads to find distressed properties, get it under contract, and then finding a buyer; and then im told to find the buyer first, to find a local buy and flip investor and find distressed properties according to the buyers criteria. I am lost. What advice should I follow or is there any middle ground some of you could teach me. please help, I NEED to make a wholesale deal.