All Forum Posts by: Vinay C.
Vinay C. has started 8 posts and replied 85 times.
Post: Closed my first house hacking deal in Los Angeles (LA) - Part 1
- Realtor
- Los Angeles, CA
- Posts 88
- Votes 36
@Jeff Asher Yes I refinanced last year and yet to write a post on it. Will get around to doing that in the next couple of weeks :)
Post: Financing an Investment Property WITHOUT Putting 20-25% Down
- Realtor
- Los Angeles, CA
- Posts 88
- Votes 36
@Account Closed Curious to hear how your story turned out since you made your comment a year ago. I am looking for a loan with a low downpayment as well and wanted to hear your progress. Thanks
Post: Housing Hacking In Los Angeles - Multi-Family or ADU Living?
- Realtor
- Los Angeles, CA
- Posts 88
- Votes 36
I went the first route and bought a duplex. This was 2 separate houses on the property. So we rented the back house and live in the front house. We started Airbnbing the back house as a trial starting this year and it hasn't been too bad so far. It covers most of the PITI. I have to take care of the taxes and expenses which isn't too bad.
I would look at North Hollywood, Burbank, Glendale areas. I have seen some duplex and triplex where the numbers are not too bad.
Post: Bank recommendations: Los Angeles
- Realtor
- Los Angeles, CA
- Posts 88
- Votes 36
Following
Post: First Deal in So Cal - Los angeles
- Realtor
- Los Angeles, CA
- Posts 88
- Votes 36
Hi @Vipul Patel,
I purchased a duplex in North Hollywood and posted an analysis of my purchase here. https://www.biggerpockets.com/forums/223/topics/575632-closed-my-first-house-hacking-deal-in-los-angeles-la-part-1
Hope this helps. If you have any questions, feel free to reach out.
Cheers
Vinay
Post: Any Eastside Los Angeles investors here?
- Realtor
- Los Angeles, CA
- Posts 88
- Votes 36
Originally posted by @Antoine Martel:
Originally posted by @Vinay C.:
Originally posted by @Antoine Martel:
Jenny. I live in Los Angeles as well and I invest out of state in Memphis, Cleveland, Birmingham, and St. Louis
@Antoine Martel how did you land on those 4 cities?
Made an excel model of all 100 cities in the USA and looked at a variety of different of different metrics.
If you don’t mind could you also shed light on the different variables you took into account.
Thanks
Vinay
Post: Any Eastside Los Angeles investors here?
- Realtor
- Los Angeles, CA
- Posts 88
- Votes 36
Originally posted by @Antoine Martel:
Jenny. I live in Los Angeles as well and I invest out of state in Memphis, Cleveland, Birmingham, and St. Louis
@Antoine Martel how did you land on those 4 cities?
Post: Any Eastside Los Angeles investors here?
- Realtor
- Los Angeles, CA
- Posts 88
- Votes 36
I am in LA in North hollywood. I recently did a deal in LA but exploring opportunities out of state right now.
Post: HELOC to replace my current mortgage
- Realtor
- Los Angeles, CA
- Posts 88
- Votes 36
@Account Closed:
You don't have to get the All-in-one or HELOC in first position. You can do the same thing getting a HELOC in second and use the same technique. I recently used this hybrid model to achieve the same result.
Get a HELOC in second (you get a heloc for upto 95% LTV), and then use that Heloc amount to pay towards your first and then use the HELOC as a regular checking account. Keep a little bit in the HELOC that you require and pay everything towards the first. This way you always have the stability of the fixed rate as well on your first and you'll have a smaller amount on your HELOC to pay off and you don't have to wait to execute your plan.
I did that with my refi 6 months ago. Broke my loan into two. One fixed for 7 years and one heloc. It works pretty well.
Post: Does anyone have information about Carnegie Academy tax lien
- Realtor
- Los Angeles, CA
- Posts 88
- Votes 36
I am at a seminar for Prosource tax lien. They have a 3 day program for $600, which I don’t care for but they have a site that gives you access to the county records in a more readable format. Alleviates the issues of going through the county records and trying to find addresses. I was wondering if any other site does that? This site also lets you buy liens online on their site. NOTE - they don’t own any of these liens, they are just showing them on a site in a more comprehensible way.