All Forum Posts by: Sean Mamola

@Chris Mason,@johnathan newton, @Matt K.- 

I just received another call and asked the caller where he obtained my information from, he said a withdrawn sellers list- wondering if this makes sense to anyone out there?

Hello all Bigger Pockets Friends, 

I have a question about a possible fraud/Scam. About 6 months ago my property manager received many calls about my investment property inquiring if the property was still for sale when it was not even listed. Apparently, someone was running a scam off of craigslist with my last name printed as my first name and my first name printed as my last- I am now getting calls directly from places like Ohio, Kansas, etc. etc. asking if I would still be interested in selling m y property ?

How do these callers have access to my information? And how can I stop these calls from coming in and close down access to my information?

Any help would be great in shutting this down.

Thank you in advance?

Jo-Ann Lapin thanks. Started the Real Estate Trainers program on Thursday and thanks for the get well wishes!

@Mary Shea- I wasn't clear with he question, I was referring to the 18 day waiting period between all exams! Thank you for the insight though!

@Mark Pedroza- Im looking to get to that crash course in Sacramento!!! Thanks! Good to know that they grade it right on the spot!

Hello Bigger Pockets!

I have recently been placed on a 12 week medical leave from my job. Having a great deal of time on my hands, I want to get my real estate license. I attempted this a year and a half ago and did not finish the course I had purchased. It ended up expiring. I was taking classes through Real Estate Trainers and liked the format. My question is about the 18 day waiting period to take the 3 individual course final exams. Is this common in all programs and if not, is there a program that is regarded as one of the better on-line programs out there allowing me to finish the study process in the allotted time that I have been given? I am in Northern California, Tracy to be exact. Also~are there consolidated classroom programs that are offered as well? Any guidance and help is appreciated. Thank you BP PEEPS.

@Wes Blackwell and @Account Closed~

Thank you very much for the actual breakdown of numbers. After your post, I listened to the latest podcast. I couldn't help but recognizing that the topic of "just making a move" is what most people get stuck at. So, Im making a move. The house down the street from me closed at 375. Im asking 380 for mine. They are tenants that have wanted to buy this rental for a while but are insisting that they have another house lined up. At 380 I would be netting 161k out the door for a house I purchased for 255 with a 46k down and. Is this considered a good deal if it goes through?  How would I analyze this part of the selling deal to make sure its worth it- thus creating future parameters for future deals. My goals are to turn one door into 4 or 5, hold on for 6 years and then make 5 turn into 8 or 9 and so on then retire with passive income. Does that seem to simple and not thought out enough?Thoughts? and thanks for the push. 

Sean

@Chadd Chase_ I have tried to get a HELOC and it seems the the cash out- refi would be the better way to go. My debt to income is a tiny bit askew. After completing the cash-out refi, I would get 53k out and my payments would only go up from 1528 to 1680. The original mortgage rate would go down from 5.25 to 4.85.

@Pete Rosen, are you saying that this plan would be a good one?

@Catherine A. Thank you so much for your response- I did inquire about a refi-cash out. I would get 53k and I need 75k for the down payment. I could tap into my 401k and pay the reminder back tax free. I would essentially need 39k more vs having to come up with 75 on my own. Like this idea of keeping my SFR and getting a duplex as well.

@Walter Roby jr-

I have a 1031 agent working with me. Stretching the debt out on the duplexes is a new concept for me- can you expand? Im a new investor, and a small one at that!

Thanks!

I currently have a SFR investment property with tenants that want to buy. It is in a market that is very sought after and held its own after the crash. I bought this property, my first, from a family member that has since passed on. I have an offer on the table that would allow me to sell and purchase 2/ 2 unit duplexes, one in Stockton and one in Sacramento. I'm not sure what to do as the current SFR that I have has grown exponentially in equitable terms in only 4 years. I'm afraid of Ietting this one go for fear of regret and not holding onto it's ability to gain equity down the road. It has been rented since the day I started renting it. Its been a super easy ride. And I like that. I have an amazing property manager. I cash flow $100 on the front end and a couple grand from my tax returns. Buying the duplexes would put me ahead $1000 a month- but would their value and equity grow as much as my current SFR. Any advice would be great. And is the exit strategy down the road anything that resembles selling a SFR? Ive heard that it is harder to sell a duplex vs. a SFR.

Thanks 

Sean