All Forum Posts by: Ethan G Stine

@Ryan Beatty Hey Ryan, I would love to connect. I’ll shoot you a PM

Hi all,

I am looking for some advice on where to invest my proceeds of about 200k (down payment) from a 1031 exchange of a SFH in my market of California. I am wanting to park it in a cash-flowing market. I have some minimal experience with Short-Term Vacation rentals that I would like to expand on. Also, I am open to parking the money in a cash-flowing multifamily. I am looking for some market suggestions or resources where I can go ahead and analyze those markets. I have been so head down in my own market that I have not ventured off.

Any suggestions of markets would be greatly appreciated. I am looking in the 800k-1.1MM range. 

Thank you in advance!

@Isaac Gallardo

Hey Issac,

I’m a local investor in Victorville. Feel free to shoot me a DM and I can give you my top 3-5 realtors in the area to choose from. In terms of local credit unions, I’m not familiar with many but can also give you a couple lenders I use. Feel free to PM me. I am very rarely checking the PM’s on here. Only when I get keyword notifications!

Respectfully,

Ethan

@Brian V.

Welcome Brian! I am an investor in Victorville as well! Would love to connect and help you anyway I can. I’ve done about half a dozen deals here locally. Feel free to private message me and we can chat!

@Jennifer Thomé Congratulations on the 1031! I’m an investor in Apple Valley. I’m shocked to see Apple Valley mentioned in the same sentence. If you do decide to invest in Apple Valley, I can give you the names of some top producing agents in the area.

I am looking to approach some friends, family, and other investors about borrowing private money. I feel I have enough experience under my belt now where I feel comfortable asking for money to accelerate my investing journey. Does anybody have experience doing this and can offer any advice? I would love to know some questions you would ask a investor that is asking you for money.

Thank you in advance!

@Chris Williamson Count me in for a meet up!

@Roger Navarrette

Hey Roger,

I can help you out, feel free to DM me. I am an investor in the area. I can point you in the right direction.

@Tony Cruz

Hey Tony,

I live and invest in Victorville. Let me know if I can be of any help to you in any way!

Investment Info:

Single-family residence buy & hold investment in Spring Valley Lake.

Purchase price: $185,000
Cash invested: $30,000

This house is a 3 bed 3 bathroom single family home located on Spring Valley Lake Country Club

What made you interested in investing in this type of deal?

Value add, potential cashflow after rehab, and house on golf course.

How did you find this deal and how did you negotiate it?

MLS. Negotiated price from 200k to 185k based on rehab costs needed.

How did you finance this deal?

Private money.

How did you add value to the deal?

Total gut remodel : $30,000.00

What was the outcome?

Refinanced at 75% LTV. ARV: 275K Rent: $1900.

Lessons learned? Challenges?

Money is made on the buy. Due diligence is key. It always costs more than you think!