All Forum Posts by: Tristan Romero

Hi BP! 

I wanted to see if anyone knows or is an agent in Ohio, Tennessee, or Colorado. I have a new client who wants to invest in those states specifically small 2-4 unit multi family. They are in the early stages of their process so wanted to get ahead of things and connect with any agent from these states. Huge thanks in advance for anyone who comments or connects me with an agent. Without your contribution I wouldn't be here today. 

Hi Nick,

I was born and raised in South Side San Jose and just recently purchased my first investment property in Roseville CA as a house hack with my gf earlier this year. I also got my RE license shortly after buying my house. I would say continue doing what you are doing reading and listening to podcasts. My next suggestion for you would be to the narrow down what "strategy" you would want to focus on. As some of the other comments you got suggest househack I couldn't agree more. With wanting to do so in SJ might be a little tricky so you would probably want to look at the surrounding cities that are more affordable. I would love to hop on a call to understand your situation a little better. As I always advise my clients, now might not work for you to start investing but what you can do is put yourself in the best position to do so wether that's 6-12 months from now. 

Good morning BP,

I am excited to say I am officially house hacking! My neighbor is renting my RV Access space on a month to month basis, does anyone have any recommendations for a quick cut/dry contract I can create? Thanks for any and everyone's advice in advance.  

Hi everyone! I am a newly licensed realtor in Sacramento CA and just bought my first investment property as a house hack. I want to open an LLC now so that in the future when I am ready to move any of my investment properties I've already established one. My question is it a better move to open an LLC with a big bank or smaller bank. I know that sometimes working with smaller banks such as a credit union may allow me to tap into larger lines of credit using my portfolio which is my ultimate goal to supercharge my investments. Thanks in advance to all who respond!

Quote from @Bart Van Leijsen:

Quote from @Tristan Romero:

Investment Info:

Single-family residence buy & hold investment in Roseville .

Purchase price: $499,450
Cash invested: $14,983

This is a single family home with 1,452 sqft and is a 3bd 2bth.

What made you interested in investing in this type of deal?

My reason for House Hacking was the lower risk involved by allowing me to only have to put down 3%. With such a low downpayment this allowed me to have a higher cash reserve amount.

How did you find this deal and how did you negotiate it?

I found this deal on Zillow and showed my Realtor at the time. He did a majority of the negotiating. My input in the negotiating was the push for more credits back which we did end up receiving.

How did you finance this deal?

We used a Conventional loan for a primary residence.

How did you add value to the deal?

As of right now nothing yet but we are in the process of adding slight cosmetic work throughout the house.

What was the outcome?

My girlfriend and I starting our investing journey.

Lessons learned? Challenges?

Thankfully there were no issues throughout the entire process of buying this home. The challenge for us was pivoting from our initial plan to buy a duplex. Through our initial search we quickly found out that every duplex that fit our criteria was requiring 15% down and not accepting FHA which forced us to look at SFH's instead.

 Very nice property! How were you able to get a down payment of $15k on a bigger loan?

 The loan we used required only 3% down so that's how it ended up being only 15K. 

Investment Info:

Single-family residence buy & hold investment in Roseville .

Purchase price: $499,450
Cash invested: $14,983

This is a single family home with 1,452 sqft and is a 3bd 2bth.

What made you interested in investing in this type of deal?

My reason for House Hacking was the lower risk involved by allowing me to only have to put down 3%. With such a low downpayment this allowed me to have a higher cash reserve amount.

How did you find this deal and how did you negotiate it?

I found this deal on Zillow and showed my Realtor at the time. He did a majority of the negotiating. My input in the negotiating was the push for more credits back which we did end up receiving.

How did you finance this deal?

We used a Conventional loan for a primary residence.

How did you add value to the deal?

As of right now nothing yet but we are in the process of adding slight cosmetic work throughout the house.

What was the outcome?

My girlfriend and I starting our investing journey.

Lessons learned? Challenges?

Thankfully there were no issues throughout the entire process of buying this home. The challenge for us was pivoting from our initial plan to buy a duplex. Through our initial search we quickly found out that every duplex that fit our criteria was requiring 15% down and not accepting FHA which forced us to look at SFH's instead.

I am currently looking to purchase a SFH in Roseville CA. I am not going to rent by the room but am hoping to find a nice property in a well desired neighborhood that I can do light cosmetic work to add some extra value. I am having difficulty in understanding how I should go about analyzing a property to purchase. I feel like buying a home in a good neighborhood such as Roseville in general would be a good investment but I want to try and maximize my outcome.

My girlfriend and I are going to purchase a Duplex in the general Sacramento Area of CA. Being that I am in California and its not the easiest to cash flow what would be an ideal target for my Cash on Cash return to be?  I know that its okay to be cash flow negative at first but when analyzing a property I am not sure what a general percentage I should be looking for. Thanks in advance for any and all help. 

 Hi Bryan thanks for the two recommendations I will be reaching out soon. 

What is the typical down payment requirement for a duplex that I would be living in? I have called multiple banks and there have been no offers to use an FHA loan on a multi unit property. And the minimum downpayment has been 15%, is that typical or is there a chance I could find a bank that could offer me a lower down payment requirement?