All Forum Posts by: Dan F.

Are there perks to becoming an accredited investor if one is planning to just invest in SFH/MFH? Does the designation help in building networks or being looked upon more favorably by lenders?

Sigh it's so true!

It's going into paying for things people probably don't really need

Hey BP,

I'm new to REI and just joined in early Dec. It's amazing the wealth of knowledge contained within these forums!

Here's my situation:

I just closed on my first investment property in San Diego two weeks ago and it went great! For my next deal, I plan to look out of state at SFH in the 100-150k range (exact area tbd), potentially using a turnkey company.

The problem is that I used up nearly all of my cash in the last deal. However, I do have a 130k HELOC on my own home. I'm debating between using that HELOC to finance my next SFH (either via traditional financing or an all-cash purchase) versus waiting a few months to save up the cash. What is a reasonable amount of cash reserves to build up before I dive back into purchasing? Thanks!

@Billy Maloney - Thanks for the post. I'm from California also and have thought about turnkey investing out of state. There are so many questions to consider before taking the plunge so I ended up getting the book!  Would love to hear about your experiences sometime.

@Brandon Hall - Thank you for this post. It's helpful for us new to REI!

@Dave Van Horn Thank you

I'm curious for those who have investments and/or are investing in Bay Area properties. The price for entry is high, but assuming you've got enough capital to get into the market, is it still worth buying in the Bay vs. elsewhere (e.g. elsewhere in California vs out of state). I'm asking from the perspective of maximizing returns. Getting positive cash flow seems near impossible here so investing here might be making bets on appreciation...

-Dan

Assuming positive cash flow after expenses of $200/mo per door, you would need a lot of doors to get up to 300k.

It's an apples vs oranges comparison. Plenty of investors make well over 300k (especially if you're flexing your entrepreneur muscles). Plenty of docs make well over 300k as well...

Hey everyone,

It's my first time posting after many months of reading the great content on this website.

I'm in the middle of doing my first deal on a great southern California condo. I'm using owner financing for this deal and I've got nearly everything in place except for a loan servicing company. 

Can anyone recommend a reliable company to handle the accounting and to provide the statements?

Thanks!

-Dan