All Forum Posts by: Sam Stout

Be careful because the first lien holder can call the note due if they find out the house is sold.  Their is also a Lease Addendum option after putting the home in a trust, and putting a lien against the trust etc etc...You need to find a creative real estate attorney that knows how to structure these things so as not to raise any red flags.  

     You can always pay off the note, then sell the house yourself through owner finance, which a very good long term play....

@Steven Accardo Is it possible to do a HELOC on a commercial property of 5+ units?

@Dan Jaeger Thanks!

Me too!!

550/mo, which gets you 3 pools, golf course, private beach club, small family ski area, rec center, great restaurant, complete snow removal, exterior care of condo (roof, siding, stairs, water damage). It seems high but our HOA is rated one of the best in the country.

@Shelby Pracht I agree!  We just did our first two months of Airbnb'ing our condo in Truckee and averaged 3k/mo gross.  We find people want to book it up to 6 months in advance too.

@Anastasia Orth Yes, be careful about metals in the ground in Nevada County.  If you ever build and rent there, and for some reason a tenant gets arsenic poisoning, you will be financially destroyed in a lawsuit.  I've seen it happen.  I almost bought 4 lots in Grass Valley for development, and I had my lawyers look into the minor arsenic presence on the lots.  They highly discouraged me from going forward.  

     On a side note, I have 45 acres with a barn, septic, water installed, and home already designed and engineered coming up for sale in the fall.  It is 25 min outside Nevada City, but a gorgeous piece with a reservoir next door for swimming.  I use it for my cows at the moment.  The home was designed by the well known architect David Wright.

These rates are for homes ranging from 75k-90k SFR. I have a 790 credit score, putting down 25% always.

Hey,

     Just wondering what people are locking in for conventional rates right now on Non-Owner Occupied investment properties.  I ask because mine just jumped from 4.5% to 4.99%.  My broker thinks they may go back down but......they could go higher too.  Cheers

@Eric S.