All Forum Posts by: AJ S.

I would try HELOC on your primary residence, personal loan, line of credit (personal or credit card), Sun Trust, Lending Club. I heard of people on BP use them.

There are investors that live in expensive markets like NYC, then invest in Rochester, NY, Philly, Baltimore, I think you have many options you could go hunting on weekends while still have a normal job.

Yes, the limit on most 401k accounts is 50K (loan), you could cash out if really desperate, but you would pay taxes on early withdrawn. Getting a loan on investment properties is really headache, also check HELOC or equity from any asset you may have and use as collateral.

130K will get you closet in bay area or even CA in general :)! Check nearby states like AZ, TX, ID, UT, OR, WA, Midwest is cheaper, make sure visit properties before hand, preferably pay cash if possible or take out equity/cash out refinance from primary or paid off properties. 

Yes, it's pretty complex, but possible. Go visit the house, better yet go to Tijuana for a day and see if it's for you. There are restricted areas like Michael stated, there are brokers in SD that advertise for that stuff, it's challenge to find somebody reputable and honest. 

There is area up north that is excellent for rentals, I know area because I'm selling a property there. Tracy, CA also look into Manteca, Lathrop. Cheaper than southern CA market like LA, OC, SD. If looking for cash flow, look out of state for better ROI like others have posted.

Real estate is like any job, hard work, determination, and perseverance.   Good thing is San Diego is very strong rental market, you can probably raise rents yearly. If you have a job, turn keys over to property mgmt. company and negotiate the fee's, they should be able to do almost everything. Generally tenant should pay all utilities including water. 

Re-finance your mortgage into HELOC in first lien position, difference is compounded amortized interested vs. simple interest on average daily balance. Use the HELOC as checking account, pull money in/out of account, though most have 10 year draw period.

Sorry hear that, hope you had insurance did call out adjuster and file a claim?  Also call local police and file property report.

If you have used HELOC in first lien position please update the thread or message me, seems most banks are not interested to give you this loan product even if you have the equity.