All Forum Posts by: Noah Laker

I wouldn't go for a condo, as the HOA fees and restrictions could affect your ability to rent it out, and the resale value will always be lower than a comparable SFR. Unless you specifically want to live in that condo two years from now, you should go for a duplex or SFR.

I'm a local broker and investor, we have over 100 Airbnb rentals and a lot of our clients like to use the homes part time. 

Hey Ty, you've done your homework! And warm welcome to the BP community!

I'm a local broker and PM -- The first lien is indeed "first" position, being it was owned free and clear prior to recordation. 

The HELOC may or may not disappear, but it will likely be "extinguished" from the property title after auction.

After a first mortgage lender forecloses and it's lien is paid off with the proceeds from the sale, any surplus funds from the foreclosure sale are distributed to creditors holding junior liens, like a second mortgage lender or judgment creditor.

And by the way, YES you should serve notices prior to entry just to be safe.

After you acquire the property, what is the goal? Are you establishing residency and/or renting the property? We manage 100+ Airbnb properties, and love working in Sacramento!

Neither option. Sell the old primary, buy the new one, and use the remaining equity to invest in a multifamily property which will yield much more rent for less money. 

I'm a local broker and we manage 100+ Airbnb properties and other rentals. You're sitting on a goldmine if you leverage it appropriately. Best of luck!

Hey Chad, I'm a local broker and PM. A PM company in California is required to have a broker officer, so either your dad can take on that role and put you in charge of the operations, or you can obtain your broker's license first.

I'll see everyone there!

Renting a SFR is not the best ROI. Better to sell, save up a bit more, and buy some multifamily investment property.

However, if you can afford the negative balance every month, you'll be accumulating equity over time as a longterm play.

I'm a local broker and PM. Happy to run through some scenarios with you. We manage over 100 investment properties, mostly STR, and if you run this as STR you could probably make more like $4000-5000 per month.

You can try advertising it on Facebook in various business groups, as well as on Craigslist. Give them a triple net lease (meaning they pay rent, and they're also responsible for insurance, utilities, and maintenance). Be sure to check your zoning code to determine what kinds of businesses are allowable. 

Good luck! 

So many ways to buy with lower entry cost. My two favorites are:

1) Creative finance (subto, seller finance, hybrid, etc)

2) Owner occupied loan (3.5-5% down payment instead of 20-25)

I'm a local broker and investor here in Sac, and manage 100+ STR/LTR properties. Hope this helps.

Hey BP, I'm a local broker and investor. We found an opportunity to purchase a huge SFR with two kitchens located next to a commercial zone which was previously used as a sober living facility. With a few tweaks to the management structure, and with new leadership, I figure we can greatly increase the revenue. I've lost friends and family to substance abuse so it seemed like an opportunity to do some good and make money in the process.

I negotiated a sweet deal, and was prepared to buy it myself, but a few of my clients expressed interest and I ended up helping two of them form a partnership. So here we are, halfway through escrow period, and I'm very excited to watch this project come to fruition.

Anyone on this platform invest in SL? As long as there is no "healthcare" being provided (medicine, baths, etc) then it's not regulated by the department of health. The City is willing to look the other way as long as your contract is written a certain way. I think I have all of my ducks in a row but I want to hear from other investors who are interested in this model.

Any tips? Horror stories? Wins?

 Sure Cindy, DM me :)