All Forum Posts by: Joseph Chiavatti

Hi Tom-  Just last week I referred a client to a great agent in the Minneapolis area.  If you still need a recommendation, let me know!

Daniel-

Do you have a real estate agent working with you?  They would be a great resource for your questions as those questions should be answered by an expert in your vicinity.  Agents and Brokers know what renters will want to see in a rental unit and should help you think through all the things you should be looking out for! 

Hi Matthew-

You have a great list of questions.  You sound like you're ready to get your feet wet in your first real estate venture!  I love speaking with new investors and I can't wait to answer some of these great questions (I will answer some and explain why at the end here).

3. This really depends on how the numbers work on the specific property and how comfortable you are with having your money "tied up" so-to-speak.  Many investors prefer to keep their cash in their pocket, while others like the security of knowing their money is safe in their real estate. 

4.  Depending on your financials, you can qualify for grants and other programs that minimize or eliminate your down payment, typically on multi families 4 units or less.

5. This is also a case by case basis.  I work with a fantastic mortgage broker that would get you a deal as good as (but mostly better) than you can get anywhere else.

7. I would be weary if both parties had the same agent, but if it's two different agents representing their respective parties under the same broker, that's not necessarily a bad thing.  The two agents help minimize the effects of what is commonly referred to as "dual agency."

8. This is an area-specific question, however, in my experience in California, 2-4 bedrooms are rented like hot cakes, while one bedroom and 5+ bedrooms are slower to rent.  Again, this is area-specific so it can be different in Florida.

9. This is a two part answer. One part is how crazy or liberal is the HOA- a great way to find out is knock on the neighbor's doors and ask- most people are not afraid to rave or spill the beans on their HOA. The other part is make sure you will be able to have renters. Some HOA's only allow a certain percentage of the residents to rent their homes, while others will only allow one rental contract per unit, and others don't allow them at all.

10. It definitely can be.  All about crunching the numbers the right way from the beginning.

The reason why I didn't answer all of your questions was because I think you need to speak to an area expert agent or broker about those other questions.  I work in California with Seven Gables Real Estate, a top notch agency in the Orange County area.  We've worked over the years to build a list of highly qualified and respected agents and brokers all over the nation and world.  If you would like for me to get you a referral in your area, PM me.  I would be happy to help you out!

Hi John! Are you already working with an agent or broker? An experienced agent or broker who has done residential/commercial deals should assist you in crunching the numbers and help you find deals that make sense for you financially. If you need help finding someone in your area to assist you, PM me!

Hi Boyd- I work in California for Seven Gables Real Estate- a top brokerage in Orange County, CA. We have an extensive list of qualified and experienced agents and brokers that can help you purchase your next property. If you're interested in me looking into that for you, PM me!

Hi Pete! Welcome! Southern California can be an amazing place to invest in income property. You are certainly in the right place to learn and make some great contacts. If you need help navigating the real estate world, please let me know, I'd love to help!

Hi Julien! I'm a Real Estate Broker Associate in the Orange County area. I would be more than happy to talk to you about your real estate ventures anytime! I really enjoy talking with investors and assisting them with making their goals and aspirations come to life...feel free to PM me!

Hi Nathan! My name is Joseph and I'm a Chapman grad (business undergrad emphasizing in Real Estate)...go Panthers! I am still in the Orange area and am a Broker Associate with Seven Gables Real Estate. I would be more than happy to sit down with you and chat about Real Estate anytime...shoot me a PM and we can set something up!

Hi Derrick-

My name is Joseph and I'm a Real Estate Broker from the Orange County area.  Multi family is a great way to go!  I don't know where exactly in southern California you'd like to invest in and do research, but if you need any help, feel free to PM me.  While I am from Orange County, I am very familiar with the surrounding counties (LA, San Diego, Inland Empire, etc.) and if I can't help you, I will hook you up with a person that can!  Hope to hear from you soon!

Hi David!  Depending on your circumstances $40K could be plenty of money to put into your investment- especially if you're going to be house hacking.  The loan originator I work with is TOP NOTCH and if there is a way to get you into a property, he will find it.  If you would like, I'd be happy to sit down with you and help you go over the numbers and your investment aspirations, or at the very least I could give you the loan guy's info.  PM me if you're interested!