All Forum Posts by: Dylan Vargas

@Rick Rand Welcome! I personally would keep studying both methods and wait until all this settles in the next few months to figure out which way to go. Multi family peaks your personal interest so maybe thats is a good way to start learning the next few months. Be real careful in this changing market. I have learned so much in a few years and changed many views on properties and investing. California is getting more non landlord friendly each passing day. Keep this in mind when venturing down the real estate path. I say this as you mentioned keeping it real simple. California also has the big gain potential over time that is tough to match. Check and see how @Michael Swan (Swany) is doing.Good luck and keep us posted.

@Noah Howells Welcome! If you find an actual deal you will have cash buyers. Good luck and keep us posted.

@Michael Cavalli Welcome! I would sell and move on. Lower the price asap and hire a new Realtor asap unless you are ignoring the Realtors advice. Everything has sold in this great market up until a couple months ago. You will get a lower price if things not permitted but such is life. If the property is out dated this will not make a good rental either which will require more money to update. The other option is everyone move back to save a ton on housing and sock away paychecks or whatnot. Otherwise, take the money and move along. Good luck and keep us posted.

@Bryan Beal You bring up some great things to discuss. You have been very reasonable and respectful in your posts. This is a great discussion and glad you had the guts to speak your mind. I am surprised at the responses you have received as some of these responses are not respectful. Just my two cents.

@Donyae Coleman You can call. No need to go and open an account. Make sure they do the type of loan you are requesting.

@Donyae Coleman Welcome! I would find Credit Unions in the local market be it actual Detroit or a suburb. Thats what worked for me but on a purchase not refi. Will be trying to refi after rehabbing and stabilizing property. Good luck and keep us posted.

@Jonathan Almanza  @Dennis Cosgrave Welcome! I agree with Dennis. Wait and see. Get pre approved and ready to pull the trigger but wait and see. Things are getting a little messy. You lose nothing by waiting and see how things play out. You will find deals as people will have lost jobs and will need to sell. Just my two cents. Good luck and keep us posted.

@Account Closed Welcome! I would base this on the amount of profit to be made. Some headaches are worth every penny of the profit! Good luck and keep us posted.

@David J. Welcome! Sorry to hear. I would confirm that they are working less due to Covid 19. Then I would take any rent you can and evict after the crisis is over and eviction moratorium lifted. Follow the law by giving proper notices etc but find new tenants. Read up on how to do this properly. You can tell the tenant are going to evict after this Covid 19 is over and moratorium on evictions lifted but then you will not receive any money. This is just the way I would do it. Be firm with the rent collection even if they are paying partial rent. Be firm on dates etc. I would only do it this way as some form of collecting some money and not losing out on all your money until the moratorium is lifted. Make sense? This is not legal advice and just simply my opinion. Good luck and keep us posted.

@William Decker Welcome! I second what others have said. Local credit unions or community banks will do. Either way expect to put %20 down if not more. If you get less count yourself fortunate. Cant remember if you talked about owner occupy on a duplex, triplex or 4 plex then you would get regular down payment requirements such as zero to %5 down. Good luck and keep us posted.