All Forum Posts by: Allan C.

@Eric Michaels whatever they were attempting I can think of numerous better ways to achieve the end result. Seems like inexperienced rehabbers, so it raises concern for anything else they touched.

@Diane G. I suspect there are more CA investors waiting on the sideline with cash than the ones who burn-out during a market downturn. It would be equally favorable to buy in CA during the downturn as it would in AZ as you’ll likely have quicker recovery in CA, thus improving NPV of your investment.

@Daniel Pitner we’ve seen $150/door rental increases over the past two years, so if you financed a purchase at 5 cap then you would see $200+/mo CF in today’s market. I don’t see further rental increases sustainable, so would be cautious buying turnkey.

@Lisa Donaldson we coincidentally may have crossed paths at the embassy with the same notary signing docs for a Chicago close. I’m one stop away from you on the N-S line, and still actively investing in Chicago and the Bay. I have some good resources in Chicago if you need any referrals.

@Luke Hadden for clarity, you would unlikely use the embassy to notarize all of your closing docs since it costs $50 per notarized signature. It's more efficient to spend $50-100 to notarize the POA and have your delegate sign all the closing docs state-side.

@Luke Hadden You must have figured out your situation since it was a few months ago, but for sake of others reading the post, you still require the embassy visit to notarize the POA. However, there are more more lenders allowing online notarizations, so hopefully soon enough the days of embassy trips to close escrow are over.

@Raja Mohan The biggest tax shield that you’ll receive as a foreign investor is depreciation. The other benefit is a step-up basis in asset value if you plan to leave property to heirs.

Starting late isn’t a showstopper, but it does limit your strategies. What exactly is your motivation - wealth preservation or generation?

@Raymond Stead II I renovated a home after Katrina hit Nola in 2005, and you are asking good questions.

- My first recommendation is to ensure that you have a trustworthy team in place. Contract labor will be in high demand, so you you’ll pay a premium and not even have surety of services.

- Second issue you’ll run into is availability of materials, so account for extra time for stocks to be replenished.

- Depending on power grid integrity, you may also need generators to provide electricity.

- inspector availability will also be less convenient

Ultimately, just factor in significant delays and higher cost into your renovation budget and debt servicing assumptions.

@Dennis M. Funny how it always seem to go from A-Ok to havoc in a blink of an eye. And your description of the feeling of complacency is spot on - the moment you feel comfortable is when you know something is coming around the corner.

@Brian To I request that borrowers pay the legal fees directly to my lawyer. This avoids out of pocket fees on my end while establishing credibility of the transition since I use lawyers with credentials that are easy to verify.