All Forum Posts by: Yue Lehman

Hope you can recover all/most of your money back! Thank you so much for sharing. This will warn and alert people to be careful and watch out for the evil hearted people!

 WOW lots of work but sounds like this will be a nice cash flowing property especially considering you're living in one of the units. I went to Cal Poly and studied Architectural Engineering so I heard about some local soil induced foundation issues from my professors. Applaud to you for tackling the issue that many would not touch! 

Personally small multi family units and some buy and hold single families are my interest but I've just started analyzing some in Fresno area very slowly and have yet to find something that would work for me. With the population growth here I'm sure opportunities are out there I just need to find one!

@Jen Narragon thank you for sharing this deal! What's the next step on this? Are you going to renovate it? What's the projected renovation period if so?

Looking forward to hearing updates!

I'm surprised that this was just brought up now. Thanks for starting the conversation. For those who says "it's only 500k cap, way above my profit", do you project your earnings never pass 500k? Plus, they set it at 500k now, they can easily decrease that bar lower to 400k, 300k, 200k, then boom, no more 1031 exchange... just some thoughts here, and hoping it won't happen.

@Tom Conant Thanks for the update! Hope it goes well and looking forward to hearing more update!

Yue

@Joe Splitrock I realized I left out one answer, the property is located in central coast, California in the wine country where property values are quite high.

@Jonathan Greene Hi, can you please expand a bit more on how the big brokerage "take too much from you" from an investor point of view?

Just wanted to get some insight when considering what brokerage to join.

Also, what's your opinion on starting as a new agent part time and easing into full time within about 1 year?

Thanks so much!

@Joe Splitrock yes the 40% was a special personal situation. It was a new jumbo loan for a second home. There were 2-3 lenders (bank and mortgage brokers) that I talked to said the same thing on a new jumbo second home.

That's a good idea! I remember seeing a multifamily property for sale on Zillow by Fresno State if you are interested. 

I think students are more excited to get back to learn in person than some workers being back in the office. Good luck searching! 

@Farah A. Previous posts provide some great info! I just wanted to add, for investment properties a lot of lenders have increased down payment to 25% to 40% depending on the lender also type of loan (eg, whether it's above conforming limit or not). This is a bit of a special "covid time" underwriting requirement and no one knows how long it will last.