All Forum Posts by: Adrian Hollifield

For the people who read the new CA SB9 and SB 10 laws, what do you think the impact of these laws will be?

I feel that SFH in big cities like SD, Bay Area, and LA are going to become more valuable as more of them get converted to multi family properties.

It also seems tempting to try to buy single family homes and convert them in some of the smaller cities.

Thoughts ?

Hello everyone,

I’m currently getting quotes on homeowner’s insurance and I wanted to know what kind of liabilities other investors cover for their properties.

Also is a home warranty necessary?

Thank for the help!

@Jeff Cichocki it seems that id need to find a lender that doesn’t make me wait until the work is completely done to dispense everything. I feel it would be challenging and maybe impossible to find a contractor that would be willing to wait that long to get the money. I’d have to front the money myself to keep the contractor

Thanks for the response!

@Lynnette E. Thank you for the info! Fortunately I’m not investing in Ca. It will be an out of state property

@Caleb Heimsoth

You’re right it does seem to be more challenging for the low money down strategy.

Wow thank you for all the responses. There is a lot of info to digest.

I'm glad I asked. It would've been a shock to find out that the HML doesn't get dispensed until after.

Hi everyone,

I'm looking to use a HML to fund the rehab and 70% of the purchase price of a SFH. My contractor has given me his bid and asked for 25% upfront payment to start work. Here is where my confusion is. Will the HML disperse the whole loan amount to me at the beginning? Or will they break it up into increments? I want to know how the money is typically broken up so that I can pay the 25% to the contractor. Is it different for each lender? If anyone has experience with this I would greatly appreciate it.

Thanks in advance for all your help!

@Kurt Snyder I love to hear people being successful doing the same thing that I want to do! Is your county really Orance county or is it a typo of Orange County? If it is, do you attend any meet ups in the Orange County area?

@Paul Choi I plan to follow a similar path as @David Greene after reading his book Long Distance Real Estate Investing. His strategy involves creating a team in the city you plan on investing in by building relationships with real estate agents, PM, contractors, and lenders. My brief summary does not do the book justice. The combination of reading that book and listening to BP podcast has convinced me that it is possible to do. To compensate for my lack of knowledge, I plan to either try to partner with somebody or prepare myself to have to pay the high rates that will likely come from with starting new relationships. I do not have everything figured out as of right now, but I am continuing to learn more and know that I will learn a lot more once I can get the first property under contract.

@Sherwin Gonzales Similar to most places the prices in Stockton have risen up substantially in the past couple of years. I suspect that this would be partially do to more and more people are leaving the Bay Area for affordable housing and are moving to cities such as Stockton, Tracy, and Manteca. It is getting difficult to find homes that will cash flow. There is a lot of new housing being built in between Manteca to Tracy! Hope this helps.