All Forum Posts by: Michael C.

It depends on what you buy. In town or outside. Oakland/San Francisco or Tracy? How long will you hold it for 1 year or 10? Do you need your money back quickly? Land is not liquid and may have a longer selling cycle. I have sold flat land lots and hillside lots, residential & commercial. Find a motivated seller, buy below market & develop instant equity. Know your exit strategy when you buy. I just talked to 5 lenders last week, they said max is 50% ltv, must have building intentions / plans for them to loan. Think contractor - builder - buyer, unless you will build it out yourself. Manufactured home? Good luck

1 does he have capacity to made a decision? 2 does he have income 3 does he have assets 4 if you do this without him getting legal advice, you may have a problem in the future. 5 look up the elder abuse laws in ca. & your county. 6 connect him with legal assistance for seniors.

How much is owed on the property, including all foreclosure costs & taxes? Is there equity? If your neighbors have legal title to the house you may be able to purchase it from them. Likely you will have to get a new loan. Use a title company (or attorney) if your state requires it. If there is equity and you want to give the seller money above what is owed, you may be able to have them carry back a loan for 5-10 years for their equity or until you sell it.

you should check the total amount due from the HOA, make sure it includes ALL the costs to cure- taxes, attorney fees, etc, not just the back amount owed. they may be able to sell it or get a loan if there is equity. follow the foreclosure laws in your state if it is owner occupied.

1 you can cancel the assignment. 2 you & the person you assigned to negotiate the adjustment in an addendum or re write the assignment contract. You will get less. 3 If you want, you can go to the seller and try for a better deal with an addendum, then you can pass it on to the end buyer & keep your fee the same. The end buyer & seller never meet directly or by contract or you may be out of the picture.

I don't like that the park space rent is subject to management and continues to go up. There are Park rules for noise, parking, etc. Unit Age is an important factor for maintenance. Some parks only allow homes up to a certain age then must be removed from the park. There are usually 2 park types family & senior. How many units in the MH park? How many vacancies in the park? How many MH parks in the area? How well maintained is the park? Does the park allow rentals? Good luck..

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Maybe...... as the new owner of the property, they may have a right to bring the foreclosing loan current to protect their interest. If they don't bring the loan current, they can lose the property at the foreclosure sale.

When they (the assessors office) send out the notice of the assessed value every year, there is a period of time for the owner to appeal the value. Once that window has closed, their value stays until next year. If you sell the property for $1, they may assess it for its true value based upon sales of similar properties, not $1. Check with the assessors office about doing this. I would also check with a title company about your situation and how much would be owed in taxes based upon the current assessed value. If taxes are not paid on a property in California for 5 years, the county can sell the property for taxes owed. Contact a real estate attorney for legal advice before you take any action.

Hi, your goal must consider how much time & money you have available. Do you have a team in place to handle all the elements of your investment business? Start slow until you figure out all of the logistical challenges. Also consider what your goals are based upon your investment strategy. Buy and hold, fix and flip, single family, units? As suggested already, do your first deal, then second deal. Then you can better gauge what you can do in a year. Good luck.