All Forum Posts by: Gordon Cuffe

@Taylor Cui used to own a rental house in Citrus Heights . You can pm me with any questions about agents and investing here and out of state . 

Try alpha title or acurate title . 

@Daniel Toshner that is a great accomplishment . I am wholesaling properties in the Kansas City market so now I am even more motivated to find off market deals for myself and other investors . 

@Gerry GendronIt is not difficult to do a cash out refi after paying cash for an investment property. The hard part is many people want the lender to use a new appraised value before one year and lenders just do not do that. For example, if you paid 100k cash for a 1-4 unit property it is easy to find a lender that will do a 70% to 75% cash out refi 30 days later. So you can get 70k to 75k 60 days later and use the cash.Some investors want the lender to use a new appraised value of 140k so that they can get all the 100k cash back within 60 days. That is the very difficult part because lenders want a property owned one year before they will use a new appraised value and not the purchase price.

If you ever have questions about the Kansas city market, you can send me a pm. I have been investing there since 2014.

@Steven Bichelit is tough buying from the mls. You will want to find an off market deal . Find all the wholesalers in Sacramento . You can pm any questions that you have 

@Tommy JohnsonIt all depends if 325k is a good price or not. If it is worth 335k to 340k and you buy it for 325k then you will not be able to pull cash out unless values go up to 400k or more. If you pay 325k , you will have to put down 82k that will give you a loan of 243k. That gets you a payment of around 2000 per month for piti. You will not have a positive cash flow if the total rents are 2100 per month because you still have water and sewer to pay. You first rental house will have a loan balance of 82k higher which will make your payment around 425 per month higher. less positive cash flow. 

I would bet that if a tenant is getting evicted then that side is beat up. Will she remodel that side for you or do you have to do it along with paying the 325k?  

If you dont have someone that can run comps for you , you can pm me and I can do it for you to see if 325k is a good price or not. 

@Drew WhiteheadI have run into many so called wholesalers who sell properties allready on mls. I dont see how anybody would buy them and wonder if any get sold via this way. If they want to sell from the mls, they might as well become agents. I only sell off market deals. It also bugs me when wholesalers put zero marketing dollars into deals and just try to sell real wholesalers deals by adding a fee to them. Not much of a deal for the end investor anymore.  As long as people are selling wholesalers courses there will always be newbies coming and going. Hopefully they go away faster than longer.

@Jessie Ramseyyou will probably notice a low return rate on mailing to pre foreclosures unless you invented the best letter in the world. There are fewer preforeclosures compared to five years ago. I dont care what I buy as long as it is priced right so I mail to many different homeowner types. They all have a low response rate but it only takes one at a time.good luck

@Brad Turleyhello there are a bunch of us investors here on Bp . The Roseville rei meetup that meets in rocklin has the largest number of people that meet the first Tuesday of every month. 

@Tyler HiattA useful real estate agent for an investor is an agent who knows how to find properties that are below value. What the new value will be if the investor makes renovations, updates. A useful agent is one who can find duplexes, triplexes and know what the new rents will be once the place has been renovated, updated. Many agents will try to sell you a property where they use comps over a mile away that do not count. Or they say "the place just needs touch up paint" or "the carpet just needs cleaning" when in fact the whole place needs painting or the carpet needs to be replaced. I find my own deals because agents are not accurate on rents, repairs ,or ARV's.