All Forum Posts by: Account Closed

Incredible thread. @Chris Mason and @Account Closed right on the money, as always. 

@Leandro Zhao you asked “is there any other strategy other than buying for appreciation”. The best strategy here in the Bay Area is value-add. Like Minh said, no one is going to hand it to you. 

@Jana Cain I’m surprised Libby wasn’t there to help them move in 

@Dan Heuschele thanks for sharing these prices. How much do you anticipate having to spend in addition to the manufactured home? ie grading, utility hookup, slab, permits?

Cash flow neutral? That’s a whole lotta work for nothin 

@Account Closed

@Account Closed has a meetup in San Jose, and I think it meets tonight! PM me for the link, I don’t think I can post it in here 

@Joel Florian moving from Alaska to Hawaii. Congrats, what a move

@Nathan Gesner I have to agree. The Bay Area is a terrible investment. We’re all broke over here and none of us are cash flowing. 

Your point makes sense in principle but in real life it’s not that simple. HELOCs aren’t always readily available. In downturns banks freeze them and don’t open new ones even with low LTVs. 

In a downturn equity can vanish but cash in the bank does not. I’d rather have the cash on the sidelines or invested in more property rather than pay down a property and tie up that cash, hoping a bank will “re-lend” it to me.

Regarding peace of mind, I’d still rather hold onto the cash, knowing I can make payments and keep the asset vs potentially relying on the equity to keep me afloat. 

 all day brotha. @Chris Mason is the go to guy in CA but perhaps he knows someone who can help you in Iowa. 

@Anthony Wick Fannie and Freddie both do 30 year fixed on 4plexes. I have several of them. Almost all lenders have access to them