All Forum Posts by: Alice K.

@Account Closed - Ohhh, love it (assuming it isn't used on me!) Completely understand the concept, and wasn't aware you could cloud it like that.

Hello!
So on Section 8, I don't have one myself but have been under contract on Sec 8 property.

Regarding the offer, I recommend putting the following in your offer:
* Lease viewing contingency - so you can ensure the contract is tight
* View all units contingency - so you can see exactly how the units are kept BEFORE paying for an inspector
* Rent roll / expenses list (tax return) - Sure you could get Sec8 money but just to make sure there hasn't been a lot of tenant-caused damage. 

Tell the agent to add an addendum for this.

Cheers,
Alice

Totally makes sense. 

Section 8 in my investment area is a hit and miss based on the property we've viewed. 
Awesome that you know your investment market well--
Hope someone just lends to you already! 

I remember calling people for my first property and hearing all sorts of different stories from different lenders, "SORRY, NO ONE does that, you HAVE to do x,y, z." AH this industry.. haha

@Aaron Mazzrillo: laughed @ the 2002 comment. 
@Account Closed: Have you ever had a person straight up close behind your back and you lose the contract? Was listening to a wholesaler who said he just likes to be honest & upfront and it's been "fine". I feel like most Californians aren't born yesterday so can see why one might do that...

A few questions / thoughts:

* What's the cash flow look like for these? 
* What are the tenants like? 
* Do they have full kitchens, etc?
* How many lenders/potential funders have you called? 

I'm not too familiar with markets that have full homes in this price range, but if the property is up-to-snuff (not missing stoves, etc) and truly a good deal, I can't see why *I* wouldn't lend you money!
I'm liking what @Kenneth Garrett & @Jeff Filali mentioned regarding local sources or just going the commercial route (may want to check as well to see if you're comfortable with balloon payments, where everything is due in 5 years or you have to refi).
Perhaps you could ask the turnkey company as well what THEY would do or just up the price to 100k and make sure the ROI matches.

If that cash flows properly and I won't be killed outside the front door, I feel like you can get fronted that money by _someone_! 

Good luck! 

I was (and still am) in a full time in a tech position.
Agent on the side (5 - 8 hours extra per day).
Many people say, "I hate my job and need to retire!!"
I'm fortunate to enjoy my tech job...

The trick is to wildly brainwash yourself and attempt to minimize the panic attacks. 

Currently, work helps keeps me on a schedule. Without it I'd wake up at noon and be up until 4AM. Although, I was doing taxes last night at 3, so maybe it's not that bad at all (laughs).

Hello there,

Seeking any recommendations for a CPA who is quite experienced with real estate investments, agent business expenses, and the basics.

Location not important (I can call or Google hangout), as long as they know how to handle California taxes.

Tried calling around the Bay and looking online but would love to get a referral/use someone of BP.

Thank you!

--Alice

Love it-- Thanks for sharing @Rip Rittell and @Justin Stanfield

Do you happen to have tips for selecting a roofer/ type? I may need a new one on a 1.3k sq ft home and am wondering what to expect... (Snowy area and hot as heck in the summer.)

The home I'm looking at is 40's and I can tell by the waves in the shingles it needs a facelift.