All Forum Posts by: Jennifer Stutland

Having un-permitted additions can have varying effects on the sale/value/getting a loan on a property. In some areas of LA escrow cannot close unless the building is up to code, for some loans, un-permitted additions are not allowed in the appraised value of the home. Some lenders it won't matter... I would speak to your lender about exactly how it will affect the loan.

Another thing to think about, is when it comes to selling the property... a buyer's lender might require permits in their appraisal/loan approval, so it could decrease the pool of potential buyers and price in the future.

Also check on what type of auction it is... Depending on the specific rules of that particular auction, they're held differently. Is it subject to confirmation, is there a minimum bid, is it an auction to see who gets to submit an offer? I've seen all these types of auctions in the area, so be sure you know what you're dealing with before the date!

Use a combination of research like Bigger Pockets calculators and comps from the agents to see if it's a good investment. Keep in mind, what might be a "good" investment in LA could be a "very bad" investment in another part of the country. Compare apples to apples with your criteria and what's realistic in the local market.

Welcome!

FIBI (For Investors By Investors) is a good networking opportunity, although these meetings range in topics. I believe there's a chapter in Long Beach, it can be found on Meetup.com like William suggested.

Hi @Anthony DiRico, regarding disclosures... are you a real estate agent? The best place to look is California Association of Realtors regarding disclosures for real estate transactions. It sounds to me an amendment to the RPA or an addendum disclosure. If you have questions about what forms to use, I would ask your real estate agent. If not, then your real estate attorney.

Hi Austin, I'm working with FHA investor clients currently and the self sufficiency rule. Am well acquainted. My office is in Manhattan Beach and I specialize in El Segundo, Hawthorne, Gardena, Lawndale, Torrance, Manhattan, Hermosa, and Redondo... South Bay Beach Cities and Beach Cities adjacent. Competition is certainly tough for FHA investors in the South Bay, I don't want to sugar coat. If you have any questions please feel free to reach out. Are you working with a good local lender?

A great place to network with other investors is FIBI- for investors by investors. They have meetings every month, and a big networking event beginning of June.

Seeing this late, I highly recommend Paul Ferguson at http://fergusonhomeinspections.com/ I use him whenever I can.

Hi Alan, this is my neck of the woods! Cash flow is difficult and can depend on what kind of financing your sister will be doing and also what kind of property she's looking for. What specifically is she looking for? Also, do you have a good contact that can send you off-market or pre-market deals? Typically, in my experience, the best deals go off market because they're bought and sold through agent/investor connections.