All Forum Posts by: Ewa Reza

Looking for a lender who can finance multiple SFR (rentals) at $50K range each.

Seems like a lot of local Los Angeles think $50K price is not work their time...

Welcome! Bigger Pockets is amazing source of knowledge. Make sure to come back here often :)

You're overlooking one huge thing. You're not using leverage!

You can probably buy 2-3 buildings using financing and I'm sure your ROI will be higher then.

BTW renting rooms seems like a lot of hustle. How many rooms are you anticipating? Be careful so it does't turn out to be a full time job ;)

Are the rents at market value? Have the tenants been there for a long time? Will you anticipate any vacancies? What are other costs (water, trash, maintenance, etc)?

Although compering it to my market here in SoCal without knowing all these it's already a crazy good deal.

Hi Joseph,
1. you gotta figure out what kind of investing you're interested in
2. find a realtor who will make it easy for you to buy/sell
3. go for it! There's too many people who just talk. Look for a mentor if you wish but in the meantime do your thing, learn as you go. There's no better way :)

Never ever take Zillow estimates seriously. On average they show 10% higher value then reality. Sometimes even worse. Just last week I had a client interested in a property listed at $450,000 but zestimated at over million dollars! The client was all anxious to buy but when i pulled the comps it turned out it wasn't a good deal at all. So do your market analysis or as an agent you trust for help. Good luck :)

Hi Mike, you can use equity in your first property as a security for loan to buy another one. Try conventional lenders but if you have too little equity it may not work and you'll have to move to private lenders. With private lenders you have to be very careful though and do your home work properly as it often ends up with negative cash flow if you only buy a property and rent it out. It's usually good idea if you're into fixing up and selling. Good luck :)