All Forum Posts by: Gordon Cuffe

@Trupti RaisoniGone are the days when you can find a house under 150k. Homes in the hood are going for 200k or more now in Sacramento. Citrus Heights homes are 250k and more.The lowest priced home in Citrus heights is 270k now. In order to get a house in the low 200k range, you can find them in North Highlands. Any home you purchase will get rented easily due to lack of rentals in all of Sacramento county.It is almost impossible to find a house where the rents will be 1% of the purchase price even with a duplex. I am very familiar with the market around Sacramento so if you ever have questions ,send me a pm.  

@Bret KellyYou can go to st louis real estate investors group and learn about real estate investing. Meet some investor agents along with wholesalers.St Louis has some groups on facebook also. It is easy to find a 3 plex or 4plex in the St Louis market. I get emails all the time and I am out of state. here is the a link for southside investors . Talk to a lender to see how much of a down payment you will need and what your potential payment will be. 

https://ssiconline.com/

@charlie van 

@Charlie Van Normanyou can send me a pm and I would be happy to answer your questions and give you ideas for the Sacramento market. I am afraid to go into more detail just because my post my get deleted. bp is still helpful. I am very familiar with the Sacramento market. 

@Ramki D.Now that we are on our 8th year of run up on prices, you should be prepared to hold onto the house for 10 years or more before you see some good equity buildup. The rate of appreciation has slowed over the last couple of years so it should continue to do so or possibly stop some time soon.If you ever want the secret to saving money on the down payment of a brand new home ,send me a pm. 

@Ramki D. I am a mortgage broker in Sacramento and the correct percentage is at least .01% to 1.25% of the purchase price. If a person pays 300k for a house, he will pay at least 3000 per year in taxes or more.When lenders are estimating the taxes on a new purchase, they use 1.25% . Some areas have special assessments so it could even be higher than 1.25% . To be safe use 1.25%.It is not .68%. you can pm any time with questions.

@Arkady ItkinHaving just a one bedroom limits the number of potential tenants that you can rent to. It also lowers the amount of potential rents compared to a 2br or 3br condo. Take for example 3544 larchmont square ln Sacramento listed for 210k. The hoa dues are 310 per month. The potential rents are 1800 per month. I just dont know if the hoa allows for rentals. some do, some do not. You could buy a house for 60k more and your payments are the same as the condo with 300 per month in hoa fees. Just something to think about since mortgage rates are so low. 

@Derrick LindYou can get a home inspection if your offer is cash. Even if you say your closing in ten days, you can get a inspector out to the house in 3 days or less. You would always write up your offer contingent to inspection. That way if you find out the basement and foundation are falling apart, you can get your earnest money deposit back.

I type in the person's name in google plus the word obituary. Many times I have found out when the person died and next of kin. it comes from a site called legacy.com.   I use beenverified to skip trace. It is not perfect however but at least it shows the relatives to the person.  or type in skip tracing in google and go through the list of choices

call back once and say yes, I really want to sell fast. once a real person calls you , talk to them and ask how they got your number and ask them to take you off the list. You can also tell them to purchase another list because newly purchased homes are not good leads unless they are looking for cash buyers to add them to their list. Then you can block their number if their automated system still calls you. 

@Robert M Ericksonnon owner helocs are tough to find after the mortgage markets crashed. I know of one lender that does them. I know  how to get you a 100k conventional loan also.  I am afraid to go into details because bp might take down the post. You can pm any details that you have.