All Forum Posts by: Spencer Cole

 I spoke with one of my lender friends about your situation and he said "20% down is probably as little a down payment as you can get away with, especially on a rental property with a loan amount that high. You may even need 30% down to get any kind of decent rate."

He didn’t find anything even from my lenders that warehouse their loans that would do 10% down.

The numbers seem tight if you have 4k a month in property taxes and probably somewhere in the neighborhood of a 24k mortgage payment every month. That’s over 300k in expenses.

You might want to consider using private money, but I'd expect there rate to be higher. 

Good luck! 

I can connect you with a local lender who should be able to do this.

I wish!! The Home insection, pest report, and swear lateral Inspection raise a lot of red flags. It would be expensive, but you could do it. I would much rather take care of a home on 8th or 9th street in Carpinteria, which could be turned into Airbnbs. 

https://www.flexmls.com/share/...

https://www.flexmls.com/share/...

I am looking for an investor in the Santa Barbara area that is looking to do a fix and flip. Growing up my dad would fix and flip a home once a year. It was hard work, but nothing is more satisfying than turning an eyesore into an eye-catcher. I moved to Santa Barbara in 2017 and last year I became a Realtor. In the future, I plan to do fix and flips of my own in this market, but today I just lack the capital. So if you know any investors that need help with an upcoming project please let me know. I am willing to work for free.

Hey guys!

I spoke with the management at Topa Topa and they "are stoked to host your crew." The meet-up starts at 6 pm on June 17th (Thursday). We will have a sign-in sheet with a chance to win a $25 Topa Topa gift card. Please feel free to invite any friends you have that are interested in the Real Estate industry. I look forward to seeing you guys there! 

Address: 34 Anacapa St, Santa Barbara, CA 93101, United States

Save me a spot!! At the moment I am free on June 17th. I definitely want to get together sometime.

Hi everyone,

I live in Santa Barbara, CA and work as a Realtor for village properties. Would anyone be interested in starting a meet up? I was thinking we could get drinks somewhere downtown and talk about BP podcast and the market in SB. Let me know your thoughts.

@Doug Bennett

This is inspiring!!

@Marco Felix

Congratulations @Marco Felix!!

Love to see it in SB!! Keep on killing it!