All Forum Posts by: Lisette S.

I'm the wife of a realtor and in Long Beach- I've been mostly running numbers, waiting on some offers on multi's that I am countering etc.for a buy and hold. I believe one is looking good- Will wait and see how it pans- trying to keep the emotion of it all out and just figuring out if numbers make sense- making only offers that make sense as an investor, as I've learned here.

I am responding here because I am looking to learn and maybe help someone out looking to invest in the LBC (or around/ mainly near LA and OC areas) to learn. I have full access to the MLS and scour it daily and I "help" make offers for myself as he is the realtor. I do them for myself because he is letting me take control of this to invest our money and he has little time to just write my crazy offers. I've been getting really good with numbers and just doing offers etc, so if anyone would like to partner in some way or me learn from you to invest I am interested, or if you need a realtor in the area I can help (via my husband as his "assistant"). I can run numbers, cash flow analysis etc- believe it or not- even with a 5-20% down I have been finding nuggets here and there that cash flow well- but that which I do not have the down payment for at the moment- he's gotten some passive investors interested in multi's with my analyses for investments.

I am also interested in flips- I run into some great flip possibilities that come out as I scour- (duplexes in eagle rock, anaheim,etc). I know all areas of the LBC and southern CA (lived here all my life- and know the in's and outs of most areas)- let me know- I am looking to learn or even learn with someone, especially flip, wholesale). We are saving our money for the time being to invest, but learning in the meantime and keep current in the market is good. Let me know!

@Mike D'arrigo that would be great! I have found a site n this and it appears I do need to use a non recourse loan. Which leads me to think...would I have more options if the money was not in a self directed account with the foreclosure on my record ?just a thought..

Thanks Wayne, I keep asking various brokers, but I keep getting the same response on this? If you or anyone knows some in my area who is more knowledgeable on this possibility please let me know. Any other words of wisdom anyone?

Hi there,

I have been reading like mad formonths now and am in process for purchasing a four plex for me to live in etc.- here in long beach- I am getting an FHA 203k loan for it and found this a good fit since I have a foreclosure from 4 years ago. It will cash flow nicely with me living in it as well. Took some time and patience but I am happy with this deal and have all the thanks in the world for the bigger pockets community with the education and analysis tools available. I will celebrate when I close.

Anyways, my question is I have a self directed account sitting with about 26k in it. I want to use it to invest, I am thinking buy and hold, but maybe flipping, not sure. I have been lingering in several out of the way california communities , running numbers etc to see possibilities. Mainly kern county and have friend who is a contractor and prop manager in a particular community....she lives there, has given me some idea of rental numbers etc. Now up to this point numbers look good etc., but what I can do loan wise is where i need help...this may not happen for a while, but am trying to plan ahead, maybe later this year if possible. I need some help sorting it. With a foreclosure on my record I am told conventional is not possible...homepath loans are not possible as well, as an investor I would have to wait 3 more years for financing! Is hard money my only option at this point? My fico is about 680 last checked, on the up and up, but the foreclosure is the obstacle I am seeing- any help seeing the possibilities,opportunities, direction is appreciated

I am interested to see how everyone responds to this as a newbie. I was debating this one for some time and am now in process of going for a similar scenario as option B., but my cash flow in property #1 is much more. It has taken some time to find this one, but I will end up living in the barrio for a bit of time, and have no problem with that as it will cash flow well over 1k+/month in California and my monthly rental expenses are paid for by the other 3. Still, I will also have 25% for a downpayment on a second property investment as well plus save even more from my rental savings for a year. I intend to buy and hold forever as I have seen the benefits of it by my parents (with only 2 investment props) now as they have retired.

My thinking to going for scenario b is:

1. who will give you a loan at 3.5. % dp in the future? However, since it is limited I am making sure it counts- good cash flow, 4 plex, stable communi getting better through the years, money is being poured in by the city.

2. Refinancing that FHA pmi will be possible later as it is to be purchased under market..fixer now. Getting rid of that pmi with FHA later is a good plus anyway.

3. Using the other amount to fund a 25% dp investment deal would place me well ... My intention is to find a great deal as well. Not sure how it looks like yet, but having that ability to look for an investment even after purchasing a 4 plex right after is to me a major plus.

Making each investment count either way is key for me...

Looking forward to see what others say....