All Forum Posts by: Martin Spielvogel

@Nick Kravchuk do you know of a bank in CA that would do new construction loan possibly with land for spec licated in Escondido? Thanks 

Hi @Jorge Barboza Jr.

My whole weekend is booked but we can definitely meet some other weekend or if you want you can get me on the phone most of the time. 

M. 

@Travis Bodnar  

Hi 

I think you are right about those areas. I have been looking into them because it seems like (in my opinion that's where the growth will be) plus they are still affordable. I used to live next door to UCR while attending. We had a house next to the collage (walking distance), but sold it in 03. Huge mistake that was the prime rental into the future but there were more mistakes made in the past. At this point I am considering few options a spec house here in South Escondido, a buy and flip or buy and hold. I am mostly drawn to the spec house because based on preliminary numbers it should generate substantial ROI, but will see if I can tie up the finance for it.

Hi @Scott Choppin Thanks for writing about your project. I have done few ground up SFR but none MF so I am looking forward to see what's involved in MF infill project. Looking forward to your next post.

Martin

Hi I am just little south of Temecula and would like to attend your next meeting.  

Hi @Cody L. I see that you would not invest in SD, but what about cheaper areas like Hemet Riverside Moreno Valley?  Would you consider those overpriced as well or is there another reason?  Thanks

Hi @Jordan Keck thanks for the info. I guess I need to hit more banks to see who would be willing to lend. I could pay cash for the land if I bring one more guy in but that would wipe out my reserves and I don't want to go into it with limited cash reserves.  By the way how is the business in Salem ? Is it as hot as PDX? I go there few times a year (family) so I have been watching it spike up. 

@Jordan Keck you mentioned local banks are you talking about credit unions ? I am trying to finance my first spec as well with no luck so far. Were you established with that bank prior to getting the loan ? Thanks for any info. 

@Luka Milicevic nice job. I am currently looking to do my first spec house I have a contract for the land on the table but don't want to sign before I can secure financing on it which is not easy. 

Thanks @Kevin Fox I will be there Sunday.