All Forum Posts by: Eric F.
Eric F. has started 4 posts and replied 20 times.
Post: 15% down 10 year loan? am i crazy?
- Investor
- Long Beach, CA
- Posts 22
- Votes 12
Thanks for your advice. Now I need to find someone with will give me a 30 year term with only 15% down
Post: 15% down 10 year loan? am i crazy?
- Investor
- Long Beach, CA
- Posts 22
- Votes 12
This is for an income property, I'm not going to be living there.
Post: 15% down 10 year loan? am i crazy?
- Investor
- Long Beach, CA
- Posts 22
- Votes 12
I have a deal I want some advice on please.
$215,000 purchase price for a duplex
$1300 monthly rent
What I want in a perfect world -
Put only 15% down
10 year loan
Keep the interest at or under 10%
Do these types of loans exist? Where do I go?
Thanks!
Post: 5 acres in SUNNY California in the path of development
- Investor
- Long Beach, CA
- Posts 22
- Votes 12
Post: 5 acres in SUNNY California in the path of development
- Investor
- Long Beach, CA
- Posts 22
- Votes 12
APN: 0420-142-66
Residential-Vacant Land - You can subdivide it into two parcels and wait until the California market turns and make serious $$$$$ if you want to develop, or just buy and hold.
Annual taxes are only $20 and paid current. Title is clear.
If you have a realtor and title/escrow agent you prefer I can work with them, have them contact me to make this easy.
I am NOT a realtor, this is my personal property I am selling because I need cash for unexpected expenses.
Message to talk with me if you have questions.
Post: Las Vegas Four-plexes
- Investor
- Long Beach, CA
- Posts 22
- Votes 12
Be wary that Vegas has the LARGEST swings of any US market by far. Know where we are in the cycle before you buy, and be prepared for the bottom to hit lower and harder than any other market including California. I would wait a few years... http://dsnet.co.clark.nv.us/dsreports/bldgpermits.asp
Post: Analyzing
- Investor
- Long Beach, CA
- Posts 22
- Votes 12
Yes, but, you're never going to get it to an exact science. Even the REITs and institutional use a bit of intuition. Zillow within a 'neighborhood' for comps and rentometer.com for rents
Post: Investing in Land
- Investor
- Long Beach, CA
- Posts 22
- Votes 12
Originally posted by @Account Closed:
Originally posted by @Eric F.:
Do NOT look at assessed value as a measure of a good purchase price. It might guide you sometimes, but, the last person could have gotten a smoking hot deal, gotten ripped off, or someone at the assessors was smoking crack.
The assessed value has nothing to do with how much the last person paid. It's just what the county thinks it's worth. They do not consider previous sales in their calculation.
Sloth is rampant out here in California municipalities and the sale value has a huge factor in what it's assessed at. Assessors see a sale price of $300k, they say oh, lets make it $311,328 so it looks like I'm doing my job. Also, if you buy at a tax sale, it's reassessed at the exact sale value. Again, counties are different, but typically county/township workers hardest and most thoughtful part of the day is taking 45 minutes at 11:00 to decide where to go for lunch before they hit the water cooler for the 15 minutes before it.
Post: Analyzing
- Investor
- Long Beach, CA
- Posts 22
- Votes 12
Accurate is subjective and each person will have a different answer. My answer would be zillow, what are people willing to pay. That takes into account the location, and where you are in the market cycle.
rentometer.com
Start in your backyard driving for dollars! My first deal was land in the desert and it did pretty pretty good. Welcome!