All Forum Posts by: Steve Cooper

Been there.....it's called Analysis Paralysis.

Way to much INFO. Just go out and make offers. Be ridiculous in your offers. Very low down, no down just get out there.   

Hi Kathy,

I to am looking for legal advice. I just picked up Garrett Sutton's "Real Estate Loopholes" book.

A real eye opener as to how to have legal protection for our rental property as I live in California. More ambulance chasers per capita than doctors. Any way hope this helps as Mr. Sutton has a whole chapter on Land Trusts. Sole Proprietor's, etc..

I bought a SFR in California in 2006 that had a full unit above garage. Had an over size deck extended to close to overhead power lines. I got permits to shorten deck. City even went inside unit above garage. So city knew it was "duplex". Moral of story, leave as is. Sold it 5 years later, new owner had no problem with financing.

How long on MLS ?? Might tell you underlying factor's as other's pointed out.

I just do not like SFR !! Just me..... vacant... bleeds money !!!

Duplex, triplex, fourplex.... vacancy... no biggy.....others carry on with rent. You have money coming in. Example here (Ca.) friend has 2300 sq ft goes empty...nothing. My duplex, 2000 sq ft total... one side vacant.... still great income. 

That's my story..... just sayin' 

I'm 82 years old back in eon's I bought SFR property with no money down. Cashflow was barely makin' it. Full time work, low expense on my part was ok.

I then 1031 tax exchanged that place for duplex out of town, but in state. Still have duplex with big positive cashflow.

Brandon Turner (biggerpockets) has a low down/no down book you should get. Great ideas and examples in it.

Good luck

Ify at best. The 3.5% loan is based on your FICO score. Also, factor in PMI insurance for life of loan. I believe you must live in property.

Get the Biggerpockets purchase calculater. Crank in ALL the numbers.

Good luck

 Can not beat Biggerbooks book store.

Brandon Turner's Multi Family book great reading

If you sell, I would not, check ALL the selling expenses. Do not forget depreciation recapture. Can be big, if you rehabbed it, like roof, siding, hvac unit, etc.. Cash flow is great, in my opinion