All Forum Posts by: Eva Salas

question @ Bill G: those liens u mentioned in your last post, child support, etc. would all show up on title report yes? Whichever title co used? 

Sounds very doable. If it were me I would run it by my accountant before making a move so there are no surprises. 

Not sure I know what u mean by insider cash. $ from friends or family? 

Perhaps u can explain to her the diversification u would both achieve as well as cash flow  RE has proven time and again to be an excellent investment and hedge against the stock market done correctly/ safely!! 

great on having reserves!! However leverage the same whether talking SFRs or apts. the reason I mentioned the apt owners is they had a ton of experience and still some lost their props...

@Andrew. Great pts about using some of the bank'a cash to do a couple of flips a yr...and then paying down the rentals w the profit. IMHO buying more rentals using leverage to purchase more props in a "crazy" aka bubble? mkt is unwise.  The wisest words I ever overheard was an intelligent person tell an investor was DO NOT OVER LEVERAGE.  When I got into investing I put those words into practice and  as a newbie watched in wonder/horror as apt investors w decades of experience lost their props when the mkt popped. Many markets are sizzling. Int rates are next to nothing!! It's never "different this time". Stay sensible and happy investing!! 

I sold a SFR because the no neg cash flow crowd had my ear. Missed out on 400k appreciation in just a few yrs. I did read a post by someone who said u could discriminate and weren't subject to fair housing laws because you'd be living on the prop. I am almost positive some of the fair housing laws do not apply if u are renting in your household ie renting a room in your home, however renting a separate unit is subject to fair housing laws.

relationships with lenders so important!! In this low interest rate environment 7% from a bank sounds high though. But sure beats hard money!! Seems like a sound strategy to me. However Will u have sufficient equity after 6 months of seasoning to get traditional financing? If not will u have the cash a lender may ask u to put in? 

Nice!!  Can I speak for others and say we want to hear the details??!! Sup exciting!! 

How would your father in law feel about u flipping the condo and using proceeds for a buy n hold with better returns? I'm from the Bay Area where ppl buying 3.8 caps, so your 5.76 cap and 4.76 COC return espesh when banks are paying so little % doesn't sound bad to me. But I'm in a different market.

Another idea could be to get your feet wet with renters with this condo, at market rent!! , and practice skills at marketing, screening, doing the contract and just being a rental prop owner for a while to see if its a good fit for you. If not you've got that free equity to move forward with. And maybe pops will feel better about you not just buying and immediately flipping. 

Personally I would not say no to a property with that much free equity, oh no I wouldn't!!