All Forum Posts by: Eric Lowe

3040 National Ave, San Diego, CA 91932: Owner-occupant or residential redevelopment opportunity in Logan Heights. The prior use was a residential rental studio, and includes a full bathroom. The property is comprised of an approximately 600 SF structure situated on a 3,665 SF lot, which fronts National Avenue and with access to a rear alley. A base commercial zoning of CC-6-1, a Tier 3 Complete Communities overlay, and 6.5 FAR, this property offers an opportunity build more residential units than is typically allowed. It's centrally located and has easy access to major freeways. A buyer should perform their own due diligence. Cash or hard money financing. Listed for sale on the SDMLS, LoopNet, Crexi, and all major listing websites.

204 Evergreen Ave., Imperial Beach, CA 91932: 3-unit multifamily property just steps from the ocean in Imperial Beach. Unit mix: 2BD/1BA, 1BD/1BA, and a studio. All three units have access to a common area washer and dryer. Situated at the corner of 2nd St. and Evergreen Ave., and a block from the Imperial Beach Pier. Each building has it's own detached garage space, offering additional storage or the potential for ADU conversions. Walking distance to shops, restaurants, and public transportation. The property is listed for sale on the SDMLS, LoopNet, Crexi, and other major listing websites.

Has anyone found success with obtaining a HELOC on an investment property located in Denver? If so, can you please tell me which lender you worked with?

Thanks in advance,

Eric

I am looking to hire an established Denver firm to perform a cost segregation study on a rental. What sort of hiring criteria do you evaluate in the firm performing the study? And what is the usual fee range? 

Thanks in advanced,

Eric

Thank you, Caroline.

Yes, the SAM would become a 2nd position mortgage. I've identified a SAM, in particular, because it could potentially fetch a better rate than a tradition 2nd position loan, and with other terms that are more favorable for a borrower because of the share appreciation benefit for the lender upon a liquidity event, like a refinance or a sale. The 1st position loan on this property is still within a seasoning period, and is not set at a low rate.

Hello, I am evaluating the pros and cons of a shared appreciation mortgage (SAM). The context: I want to finance the construction of a 2-unit ADU in San Diego. I have an existing 1st position DOT on this property, so the SAM would be a 2nd. I have no intention of selling the property, so a SAM with a phase-out provision on the amount of appreciation shared seems like a good way to reduce the cost of borrowing and to hang on to more of my own cash reserves during construction.

Question: what experience does anyone have taking on this sort of loan? And what tips do you have for someone seeking out this loan product?

Thanks in advance,

Eric

Thank you, Peter, for your reply and your advice.

Hello, while I build a rental portfolio in less expensive markets on the East Coast, I am also trying to get into wholesaling and fix and flips in San Diego. I joined SDCIA a couple of months ago, and those events have been useful. I am looking to connect with other San Diego investors through BP and identify ways I can add value.

New member here to the Bigger Pockets community. While I reside in CA, I am BRRRRing properties in Philadelphia. I am a lawyer that can do math, with a background in title and escrow matters. I look forward to connecting with others investing in Philadelphia - especially those that might be BRRRRing out of state.