All Forum Posts by: Darnell Kramer

Goals.

Are you looking to grow the equity or cash flow?

Advice, in the paragraphs you gave, is hard to come by. Great financial planning really is based on knowing the people and their goals, and having no bias from the advice giver.

From the sound of the post you are looking to not touch any assets/equity, yet continue to expand?

I grew up in OC and San Diego and know that those area are a great equity build up. 

Personally I just re-balanced some of my properties and moved some equity into a cash flow property so that I had more monthly cash flow cushion.

I know Karen Margrave is in the 949 and has more experience and would be a great resource regarding property in the area.

As Jeff mentioned, taxes.  There are a ton of things that could go into the planning and direction process.

Side Note.

Good book 'Killing Sacred cows.' by  Garret Gunderson.

And age.  My Grandma just turned 91 and There was a lady in San Diego that ran a Marathon at 91 I think.  So you have a good amount of time to invest, and spend. :D

Hope that the family situations/emergencies all work out for the best.

Great advice from both sides.

Be safe, as with all your jobs.

I did my first house, about 1650sqft. Where there was carpet I was pulling I just sprayed scraped and let it fall on the carpet. No dust. the popcorn just scrapes off the ceiling.

I used painters drop mats on the tile I was going to keep.

Spraying.  Caution on the less water side till you get a feel for the amount needed.  

You do not want to get the drywall wet, just the popcorn.

When scraping watch your scraper angle to not gouge the drywall, saves repair time later.

Drywall over, never heard of that, but it seems like you are just covering a problem up.

I had an asbestos floor in on of my flips.  I decided to spend/waste, whatever, the extra money for removal instead of covering the floor up and leaving the issue.

Hope the project goes well.

Cheers guys and keep up the good work.  After changing several duty station and beginning my investing 14 years ago it is all worth it and paying off even as full time military.

Ihave been using Kimball, Tirey And St John.  They are all over CA.

@Sergio Garcia

@Curtis Bidwell

Agreed.  Treat your tennants well, and train them right and both parties will be much happier.  Though there is always the exception!

@Joe Fairless

I thought I read somewhere that there was a landlord boot camp.  Seems though from the tone of the article that the people have landlords that are impersonal and/or distant.  The way the article personifies landlords as bad people.  Pest control I think he said. Perhaps though they are just mad their rates were raised, and the landlords did not mitigate the issue.  Its all 'what if' though at this point.

Good day all,

Found this article for those in San Fransisco, and it looks like other Cali places.

Seems like its mostly against some of the more unscrupulous landlords, but just for awareness.

http://missionlocal.org/2015/05/sfs-hottest-bootca...

@Robert Sepulveda

Thank you,

I could not think of any other reason. I was hoping that if what I was being told was trure there was something I did not know about and wanted to be prepared should I be in the same situation.

Good morning all,

I have been trying to find some info, and know that there are smart people here that may have the answer.

An associate is selling a 4plex.

The new buyer/offerer was supposedly approved for the amount.

The buyer now says that FHA will not approve the loan because the rents that are shown on the appraisal are too low.

Has anyone heard of this?

I asked the associate if the buyer was truly pre-approved for the said purchase amount and they said yes. I think though that the buyer needed the rents for the DTI to get approved.

Thoughts?

I agree. It is possible.  You can have flips that may just need lipstick.  I just think though that you have to find a house that does not need any major work, or need any permits.  You also have to specifically plan on not doing anything major, lest you may find a problem that needs repair.

The show and its impression just struck me wrong.  

I am so mortified.

I saw this show on HGTV.  Yeah, I watch it when out of town. I am so horrified and all I can think is that I appreciate reading:

http://www.biggerpockets.com/renewsblog/2015/04/20...

Please...  provide a buyer a good product.  Be it the great multi-million house... or the simple flop house nightly rental.  I know there are different needs across the spectrum.

But REALLY to show a 5 day flip.. even with a full crew.. and inspections...  I may be ignorant, but 5 day.  Sigh.

Any thoughts?