All Forum Posts by: Justin R.

@Eric Mayer Find a listing agent, and place it on the market. Even if it's artificially high at first, it shows your intent.

I would look into

1. Line of credit (Heloc on your home, unsecured line, etc)

2. Portfolio lender (small bank or credit union with flexible guidelines)

3. Loan broker. PM me if you want a suggestion

Best of luck!

First of all congratulations on making your first offer. Make your offer were it "works" for you, which it sounds like you are doing.

Don't standby while your waiting to hear back from each offer, always continue writing. Focus on analyzing, and writing more and more offers each week. Best of luck with either this property, or your next!

@Dale K Poyser If you buy right, there is a opportunity for cash flowing in Bakersfield, the "High desert", and a few other areas that have lower than typical California values. It may take more effort than purchasing in the Midwest and South, but they are out there.

Bring value to someone who has what you don't. There are many ways you can do this. Are you good with technology, have extra time (bird dogging, finding deals, helping run errands, etc), Construction savvy, etc?? Find a way to bring value to someone that is where you want to be, and you will be rewarded. 

This depends on your objective and goals.

Do you have extra money that you want to create some cash flow, and long term wealth, while spending little to none of your own time/energy? If so turn-key properties may be for you....

Do you want to create equity, and potentially continue using the same funds to purchase additional properties? If so then you need to find "under valued" properties, rehab, and rent.

Immediately start your legal eviction process.

I used Metroplex homes for years. They are based out of Keller Texas. They are not the most personable, but they are extremely professional (what you want as your PM.) Ive invested in many regions of the US, fired many PMs, and Metroplex Homes were consistently one of the most dependable.

There are so factors, states, and metros within each state to give definitive answers. You have to account for rent/value ratio, property tax, Insurance, vacancy, capital expenditures (yes, some ares need roofs/foundations/siding replaced more frequently), landlord laws, etc.

Typically, the "South" (outside popular high taxes cities), and the "Midwest" are generally considered good for cash flow. With enough research and education, you can find a cash flowing area in almost any state.

Honestly you are the only one that can answer the question whether or not those numbers still pan out after factoring in your income/other expenses. If your return is there even though you paid those costs to the bank, then who cares about those cost, YOU aren't paying them; the tenant is.

If you don't have PCs orders then you essentially have no plans on leaving at this time. The FHA loan does have certain requirements, I'm guessing PCs orders coming in would show that you originally had good faith in maintaining your residency.