All Forum Posts by: Shera Linares

Hey Ladies! Investor here in Orange County, CA looking to connect to grow my network and to meet other women in the REI game :)

Hi Namit,

If you are looking into residential care facilities, there are licensing requirements which can be found on the CDSS website https://www.cdss.ca.gov. I'm currently working on becoming a licensed administrator to manage RCFEs in SoCal. I also want to purchase these types of homes and hold them as rental properties from an investor standpoint. Good luck!

This thread was posted over 10 years ago and it still rings true! The few wholesalers I've received deals from were not deals at all once I was able to complete my due diligence. Newbie investors should educate themselves on wholesaling so they know what makes a great wholesale deal, learn to run comps, and how to calculate rehab costs. Trust but verify when dealing with a wholesaler or company. Newbie wholesalers should learn what makes a great wholesale deal as well and stop taking advantage of sellers and newbie investors with crap deals. So much time is wasted when wholesalers become greedy!

Hello everyone;

I'm in need of a creative idea to make this deal work if possible! I connected with a seller who wants to sell her property but wants to then turnaround and rent the property from the new owner for at least 3 years. The rent she is willing to pay max will cover the mortgage with a little extra over, if she agrees to my discounted price. She currently operates a business out of the home so moving right after selling the property is not an option. She will likely close the business after 3 years but it could be longer depending on the business situation. Once she leaves the property, I can fix and flip, or fix and hold, which is what I would like to do.

The reason she wants to sell is to remove her husband from the mortgage and title, so I don't think a sub-to is an option, but please correct me if I'm wrong.

The home is over 1 million, so coming up with a 20% down payment out of my personal funds is not going to happen and I am having a hard time coming up with funds from PML and HML for the total 15-20%.

Purchase price is looking around the 1.3M and comps show an ARV of 1.8M.

How can I make this deal work so I can purchase the home and rent it out to the seller for at least 3 years, maybe longer?