All Forum Posts by: Kevin Zhang

Hi BP communites, I think I going to refinancing my home equity to take out roughly 500k for 30 year loAN and buy property for passive income. Can I some oF your input on which city to start locally in the Bay Area? Sacramento or Stockton? Single house or multi-family(duplex, triplex)? I wanted get into property that have tenants already have a good contract with them. Please let me know if you have any properties that fits my vision Thanks in advance Kevin

@James O'Connor  thanks for your reply and i will look into that. 

Hi bigger pockets community, I’m in the process of looking into getting equity loan with Wells Fargo because that who I have I mortgage with. They giving me good discount. However I heard that there may be better local lenders than major corporation. What the pro and cons? Is there any one that can refer a local lender here in Sf? What should I look for in home equity loan? Should I worry about annual adjustable rate? Thanks in advance for your valuable input.

@Nick Colvill Hi nick I was really looking into South Lake Tahoe home too but was scare of the right law they have? Did that come into your thoughts to use this as air bnb? Or was this Tahoe home long term rental? Thx

@Favour Aboh Since I’m live in SF, I rather stick to something close to driving distance thx

Dead Fellow Investors,

I would like to get your thoughts on this property which is a Stockton triplex that has been on the market for 102 days.  3871 Ryde Ave . Stockton, CA 95204 .    Asking price is around $400K and currently tenant occupied. Do you think this is a good investment property as I am just getting my foot in this. What are things I should be looking for knowing that this has been in the market for an extended period of time? Are there areas in Stockton that I should stay away from? 

I think they saying renters are paying $950 each. 

Thanks in advance, 

Kevin

@Tobias Falzone Would you say it better to maybe look into rental property in Folsom versus for say Air bnb properties in South Lake Tahoe. I just got back trip from South Lake Tahoe that idea of having air bnb is very enticing.  However i'm not sure how air bnb house down here are versus for saying get a 500k duplex will look like.  Also is there housing duplex in FOlsom that will cost in 500k range? 

@Lloyd Gomes Thanks for the links. 

@Tobias Falzone Maybe something under $460 to prevent a jumbo loan so maybe i couldn't afford duplex since i don't want to buy cheap one that will not rent out and have more headaches.  How the market for air bnb in sacramento? 

New to this forum and hopefully find some useful advice and info. 

I wanted to use my home equity to purchase a 2nd home/apartment for cash flow.   I need some advice where in the SF bay area where I can start to look for that 2nd home.   My home value in the 1.2 million while I still owe the bank 250k.   I was looking into Sacramento area, but not sure how the rental market is out there yet? any city i should look for as a beginner? 

Thanks
Kevin.