All Forum Posts by: Pandu Chimata

I own a house and its currently on conventional load and it's on my sole. My wife is not part of the loan.

I am planning to buy a 2nd and vacation home (80 miles away) from the primary residence.

I would like to use the low down payment to purchase this property. Can I or my wife get a FHA loan for the 2nd home ?

If yes, what are the other options to put in low down payment but still gets the best interest rate ?

Thank you Mike. I am speaking to them.

Is AIRDNA data useful ? Does this provide details to the level of SFRS vs condos vs specific locations within the city ? How far back we can go with the data ?

Any insight into this process ?

Hello buy and hold investors,

I am looking around Ontario area to buy and hold a multi unit property. Are there any meet groups around Ontario area ? 

Hey John,

Thank you for your response. Yes. it is true that HOA needs to be paid regardless of the income source and this is definitely a concern.

Also, even a SFR with no HOA will incur some expenses such as pool cleaning and gardening regardless of the property is vacant or occupied with the renters. Obviously, this will be less than HOA.

I recently visited Palm Springs, Cat City, Pam Desert and La Qunita to scout for investment properties. I saw quite a few potential investment properties. I like Palm Desert in related to all other cities though every city has their own unique potential.

Initially, I was exploring single family homes for seasonal rentals but most them I saw in my price point (around $400K) were not really great candidates for seasonal rentals.  I am trying to shift my focus on condominiums for seasonal rentals.

I understand - condos will bring their own challenges of - high HOA, CC&R, minimum vacation period restrictions, etc.

I am also looking on other side - they provide a package deal for vacationers to enjoy - such as - gym, security, golf courts, swimming pool, private walking areas,etc. 

Did any one has good/bad experience they would like to share in using their condos for seasonal rentals ? or the market has too many condos ? 

I totally agree that I need to wait for the replies, though my intention was not to demand a response from them. Thank you for the advise. 

Any thoughts ?

LA county property auction sales are coming up next month. I head property tax liens takes the first place over the other mortgage liens.  How do we figure that out ? Even if the property tax liens takes precedence, once the property tax lien is paid off, should the mortgage lender come back to get their dues ?

I want to make sure how does this works if we buy the property at property tax auction sale ?

Thank you for the response. Charity organization owns 30% of equity and 70% will be owned by the investor.

I am not proposing a partnership with the charity organization. The charity organization is looking for investors and they claim they are one of the organization county works with to sell auction properties before they auctioned at the public auction. They believe they have a good chance to buy the properties at minimum bid price once investor likes certain properties. 

I was asking - does any one has experience working with certain charity organizations ?