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All Forum Posts by: Jo-Ann Lapin
Jo-Ann Lapin has started 504 posts and replied 3248 times.
Post: California Fix & Flip Loans
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
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Post: Loan options for the financing of factory-built homes on land
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
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Loan options for the financing of factory-built homes on land |
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Post: Cannot find cash flowing deals in CA
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
Quote from @Taylor Bauer:
Quote from @Nate Marshall:
California is beginning to become a wasteland for anything economy wise. I don't see that changing. You really should look into the midwest, upper midwest and even states like Idaho, South Dakota and Wyoming. Great deals. Great properties. Low taxes and regulations.
What about the south?
value add is the name of the game in California and right now they are really trying to make additional units accessible to the California real estate market .
Post: Just spent $7,000 on home warranties..?? 😫😳
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
I would discipline myself to self insure . Those policies have all sorts of limitations .
Post: Just spent $7,000 on home warranties..?? 😫😳
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
I would discipline myself to self insure . Those policies have all sorts of limitations .
Post: California Lot & Land Loans
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
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Post: Hard money loans for Land & Lot financing in California
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
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Loan options for the financing of factory-built homes on land |
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Post: Seller Finance and Subject2
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
I would move cautiously on this and consult with a real estate attorney that specializes in mortgage notes .
Post: Seller Finance and Subject2
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
Quote from @Account Closed:
Quote from @Annalie Cao:
Hi all,
I have this property located in Huntington Beach, CA and the owner is willing to do seller finance of 1.2 mil with a 2 years balloon payment. He still have a mortgage of 800k, and his equity is 400k. He wanted 200k down payment which is 17%, and no interest. How can I structure this deal better to use as vacation home. It's currently making roughly $77,300 in gross income for 2023 number with an uncompleted dirt backyard, if I add a nicer backyard with jacuzzi and more backyard activities
It could potentially increase the rental income.
One way to structure this deal better for use as a vacation home is to negotiate a longer balloon payment period with the owner. Instead of a 2-year balloon payment, you could try to negotiate a longer term, such as 5 or 10 years, to give yourself more time to generate income from the property before needing to pay off the remaining balance.
Additionally, you could also propose a lower down payment amount to the owner. If you can negotiate a lower down payment, it would free up more cash for you to invest in improving the property, such as adding a nicer backyard with a jacuzzi and more backyard activities.
Another option could be to negotiate a lower purchase price for the property in exchange for a higher monthly payment to the owner. This could help reduce your initial investment and give you more flexibility in making improvements to the property.
Overall, the key is to negotiate a deal that works best for both you and the owner, allowing you to use the property as a vacation home while maximizing its income potential. Additionally, you may want to consult with a real estate attorney or financial advisor to ensure the deal is structured in a way that is advantageous for you.
Post: STR home Insurance requiring Form D-1 b/c insurer is not licensed in State of CA
- Loan Officer
- Tustin, CA
- Posts 3,422
- Votes 712
I would try and get a quote from bamboo and see what other options there are .i hope this helps .