All Forum Posts by: Fernan Nava

Hello Gabriel unless you go turnkey especially when just getting off the ground, I think it will be easier for you to invest locally. Find small towns out of suburbia, where prices are a fraction of the coastal areas. there are many towns where you can find good deals for way  under 100k. This price range makes it easier to put your down payment together so you can start investing.  Good luck to you

I know this is not a forum for politics ,but some things just have to be sad. If you think that politicians in general and specially  democrat politicians will allow you to evict people based on current law you are wrong very very wrong, for them is not about fairness or rule of law, private property or your business and your families or any of that, is about themselves is about politics. There are a lot more renters than investors and so there are a lot more votes by catering to renters than to investors. 

Proforma reports are essentially an educated guess based on current market conditions and even though experience is not a market condition that you can use to derive your guess , it can still add weight to your proforma report.

For investing, there is funding available for almost anyone.  there are hard money lenders that will lend you without experience. With that said, the less  money you have for down payment, the less experience that you have all that is going to cost you, which means you have to find a deal that will pay for your lack of money and or lack of experience and still leave you with a profit. 

Hi Melissa many small small lenders like your local credit union and small banks have minimum mortgage amounts that are much smaller than big banks. In a general sense as an investor specially when getting off the ground, smaller banks will pay more attention to you and will be willing to work with you. Usually big banks have a very rigid lending criteria and if you do not fit in, then tough toenails you are out.

Giving indeed is very rewarding personally, but you can practice that with anybody does not have to be  your tenants. I think that landlords who do it are just thankful, like a salesman would be when making a sale and throws in something extra for the buyer. I do not do it because the tenant landlord relationship unlike a one time  sale is ongoing and I think a annual gift creates in the tenant an expactancy, that should  not  be there.

well first check your local laws and make sure you are in compliance. In ca I believe you can not require deposit more than the equivalent of two months of rent, unless is a furnished unit than you can require a higher amount, and from my understanding it does not matter what you call the amount collected, be it security deposit or last  months rent, the total amount should  not be more than 2 months of rent?

If your foundation is concrete slab go with porcelain tile is not very expensive and if you chose the right style it has a upscale character to it, if your foundation is wooden go with a direct installation like vinyl tiles or sheet or engineer wood,

Hey Joaquin, Have you tried penfed? I recently got a heloc from them on an investment property and I was very satisfied with the process, they did  not even tried to sell me anything else give them a shot.

Darn it late to the party again, would appreciate an invite to the next one. Thank in advance