All Forum Categories
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
All Forum Posts by: Jo-Ann Lapin
Jo-Ann Lapin has started 504 posts and replied 3248 times.
Post: Hard money loans for Land & Lot financing in California
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
|
|||||||||||||
|
|||||||||||||
|
|||||||||||||
|
|||||||||||||
|
|||||||||||||
|
|||||||||||||
|
|||||||||||||
|
|||||||||||||
|
|||||||||||||
|
|||||||||||||
|
|||||||||||||
|
Post: Loan options for the financing of factory-built homes on land
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
|
Loan options for the financing of factory-built homes on land |
|
Post: Private Money Loans for Soft Money Terms
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
- Loan Amounts from $35,000
- 1st and 2nd Positions
- Super-fast Closings
- No Upfront Fees
- Very Competitive Rates
- 3 to 5 Year Balloon
- No Prepayment Penalty
- Minimal Documentation
- Flexible Underwriting
- Wide range of Property Types Including Land (We Do Not Mind Funky Properties)
- Loans for Purchase, Refinance, Construction, Renovations, Partner Buyouts, and More
Property types can be standard asset classes like multi-family, mixed use, office, retail, and more, but can also be special use like restaurants, self-storage, wineries, assisted living, mobile home parks, land, and many more and we do not mind funky or ugly properties. We will also finance manufactured/modular/container assets, including pre 1976 built.
If you would like to discuss this further, or you or any of your clients have a financing need to talk about, please give me a call at my number below or reply back with a time you would like me to call you.
Jo-Ann Lapin
MLO/AE │Hanover Mortgage Company
2522 Chambers Road, Tustin, CA 92780
(714) 838-1474 ext. 102 Fax (714) 409-3909
License ID 01203203 | Corp. License ID 01410448
NMLS I.D. Number: 258823 | Corp. NMLS I.D. Number: 337458
e-mail: [email protected]
website: www.hanovermc.com
Loan programs are subject to change or be discontinued at any time without notice.
All loans are made in compliance with Federal, State, and Local Laws. High-cost loans are not allowed. Program features and services are not available in all areas. Rates and programs are subject to change without notice. This is not a commitment to lend
Post: Looking to purchase a commercial property - creative financing
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
Quote from @Allen DeRolph:
Hello, I'm looking to acquire a commercial property as my first go into real estate investing. This place is mixed use and has the ability to not only bring in market rate value and beyond but also be the foundation for a car and food business. So as where a typical commercial property is bringing in 1stream of revenue for what is was built for, the one I'm working on, has the ability to bring in 2 more streams of revenue without hindering the first. The risk is mitigated as much as possible from this scenario while maximizing profit. Excellent Roi. The challenge is from my current financial position, I don't have 2 years in business to get the SBA loan with highest LTV (90%). I will be putting in an offer of 2.3 million that I hope is accepted. The agent said the property could be worth closer to 3million. It needs maybe just some pavement work for several of the parking spots. I was thinking the best option would be is to get a hard money loan hopefully no higher than 80% LTV and refi after 6 months or so. During that time the property could be totally occupied and have the car business showing revenue from the start. Get it appraised, should be 500k of equity at least from the start of purchase price 2.3 mil if true value is closer to 3 mil and showing other revenue. So even at 20% down, I'm still at 460k. I can maybe bring in 150k-200k but the difference, I was wondering if its feasible to ask agent to propose to seller to carry remainder of the deposit as a 2nd mortgage and I pay her back aggressively after property maxed out. It would make the loan approval more feasible and she could make more income from the interest. I think it might be a long shot but I won't know if don't ask, right?
Is this situation attainable or would it be better to have a separate lending source to carry deposit note if possible?
Post: Yosemite Vacation Rental
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
Quote from @Jessica Chaney:
Quote from @Sebastien Seguy:
Hi @Catherine Wong did you end up getting a rental property? My wife and I are looking to purchase one in the oakhurst area and would love your insight. Thanks!
I own a Property Management Firm that specializes in Vacation Rentals in the Mariposa and Yosemite (Oakhurst, Bass Lake, Fish Camp area). I am also a CA Licensed Tealtor who specializes with investors looking to convert their investments into STR. If you ever need any questions answered or just want to get some awesome resources I provide to my clients. Feel free to reach out. Visit me at www. Stay Yosemite .us Sorry for all the spaces. The forums keep booting me off when I post it.
Post: Private Money Loans for Soft Money Terms
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
|
Unlock Equity from Investment Property in California. |
|
Post: Northern CA Apartment Investment
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
Quote from @Cory Rickard:
Hello!
Curious as to what you BP experts think of a potential investment opportunity. Small community hotel for sale. Can likely contract with hospital for housing traveling/contract physicians and nurses. I would like to convert hotel into apartment.
Any thoughts are appreciated!
Local mult family agents will be your best resources for these questions and local property management companies . What would be the cost of conversion and your break even . Is the location on a long term area for growth and industry job change over ?
Post: Advice on STR purchase in big bear CA
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
Quote from @Joe Homs:
@Kabene Gebremariam Let me try to answer your questions.
1.if I manage the STR myself versus managing company , Is buying around the lake or in the city better in what way ?
You will need to check the rules, but you would need to be within 30 minutes of the property to manage it or hire someone who is.
2. Is buying 2 bed or 3 bed is good for STR?
Always best to buy more bedrooms.
3. If you buy 3 bed and only use 2 bed for STR is the licensing by 2 /3?
They will come out and inspect. They will tell you how many people and cars they will approve.
4. What are the challenges having a house in mountain ?
Same as anything that is a long distance from where you live.
5. How’s getting contractors/ handy man : cleaner and all ?
Thats a very big challenge. We bring them up from San Bernardino as the trades up there are very expensive.
6. Worth to buy a TLC property or better to buy furnished homes ?
That is really up to how much work you want to do.
7. How's business at all for STR in big bear right now , I wonder if the recession affected it or not as much ?
Business is good, but remember its seasonal. Winter is best.
8. Is the quarterly tax( TOT /TBID) only for the lake area or to the city too ?
11%, this is California and you get taxed for walking outside.
9. Insurance company recommendation in the area ?
Another big concern. Check with an insurance Broker.
10. Appreciate if any list of which streets get snow removal from the city ?
Anything that is paved.
11. Best managing company recommendation? All managing companies I researched are very expensive between 25-30%
Keep looking.
12. Best cleaning company and also handy man recommendation?
Check with management companies above.
Anything you think I should know about STR in Big bear ?
Do your research.
Good Investing...
Post: Looking to network with Investors/Teams
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
Quote from @Nathan Gesner:
Go to NETWORK at the top of your screen and you can search for other investors and investment groups in your area. You can also check meetup.com or search facebook for real estate investment groups, clubs, or meetings in your area.
Post: Hard Money Loans for Soft Money Terms
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
|
Hard money financing for Commercial Properties in California. |
|