All Forum Posts by: Rob Hoffman

I know my thinking may be a little unconventional. One thing that I havent seen suggested is that you can use your location to your advantage. Real Estate is cheaper and provides a better return in your area then some other parts of the country. Be the boots on the ground. Find deals in your area and bring them to the forefront.  You may be able to find an opportunity to house hack with the help of an investor. Maybe a duplex/triplex/fourplex. Might not be for everybody but could attract the right investor... 

For the most part your offer will not even be considered without a loan pre-approval. Also, without a pre-approval how do you know how much you can offer on a property.

I have a property in Oakland, Ca that will cashflow $800 and Im thinking of selling.

One of the greatest threads i've read on BP. Huntsville definitely has my attention.

I am interested in meet ups when my hectic schedule allows it

Hello Nick, and everybody else,

Im a local investor as well as Realtor located here in Oakland. I have visited other markets out of state for the purpose of scoping real estate opportunities, but ended up purchasing a second property here in Oakland. Definitely not as knowledgeable or experienced as a lot of others here on BP but willing to share what I know and love hearing from others.

Know what to look for and do your due diligence before putting in offer. Have a foundation inspector ready and keep your inspection contingency a short as possible. Good luck.

My first deal as an agent I was representing the buyer. The seller backed out last minute because the tenant was threatening to file lawsuit. Seller fired his agent midway thru escrow and we couldnt reach seller to release EMD. Finally escrow got ahold of seller and EMD was released. Terrible first deal.

Here in California, at least the Bay Area, a seller wouldnt even consider an offer if it wasnt accompanied by a fully underwritten preapproval.

When using FHA you will need to purchase a property that meets FHA guidelines. Not always a big deal. One of those guidelines being a clean termite report. Not sure if termites exist in your area but here in the Bay Area everything has termites lol. Also, in a competitive market, properties don't always appraise for the price you will have to pay for the property. That's a big reason why bigger down payments are more attractive to sellers.

I think its a great idea. You may be able to get a better rate through a HELOC if possible.