All Forum Posts by: Allan Pilapil

@Matthew Lynch

1 year or after you refinance and have 20%+ equity in the property

Good afternoon bigger pockets!

I currently have a SFR with an FHA loan.

What are the steps I need to make to turn make it eligible for a 1031 exchange?

Do I have to refinance? Get more equity? Solid credit score?

I tried finding answers on google but can’t find anything.

Anything helps thank you!!

Good morning,

I currently have an SFR that I purchased using an FHA and currently renting out the spare rooms.

My Girlfriend/Domestic Partner wants to do the same and I plan on helping her by gifting her some of the funds

So my questions are

If I co sign for her would she get preapproved for a larger loan?

If I already have an FHA, can I still buy with an FHA under her name?

What precautions should I take?

Has anyone done anything similar?

@Jaron Walling

If she’s moving out then why would she ask if she can pay rent 3 months in advance

My tenant who is great and always pays on time is asking to pay rent 3 months in advance because she’s going on a trip.. what do you guys think of that?

Hey everyone,

I’m planning on adding a bathroom (corner stand up shower, sink, and toilet) in my garage in Stockton California.

I’ve contacted a few contractors and so far two of them has submitted a bid

One is $7,500

And the other is $20,000

As you can see these are way far off from each other

Both have a good portfolio of work with good reviews yet the price is all over the place

Has anyone been in a similar situation? How much did you spend?

Your feedback means a lot thank you!!

@Theresa Harris

They are 3 months into a 6 month lease - after the 6 month lease is over, they will start to pay utilities themselves.

Thank you!

Hey BP,

I’m 3 months into renting out my first property. I rent out by the rooms and charge a flat monthly fee while I take care of utilities. The PG&E bill has been over $400 and PG&E said its mainly the heater.

Is it legal to put a lock box on the thermostat? Or are there any alternatives to making sure the bill stays low? The tenants are not paying utilities so they have no incentive to watch their usage- I will be changing that after the 6 month lease is over - but in the meantime, what can I do??

Thanks guys!!

Hey everyone,

Currently in tulum and couldn’t help but notice how it’s still packed despite a pandemic. I’ve also noticed a few condos for sale.

Would you or have you invested in an area like this? For Airbnb or housing for the local workers etc?

Would love to hear about it

Thank you!!

@Cole Britting

Yeah Stockton isn't too bad - was super easy to find tenants and they're all chill and pay their rent on time! It's an SFR that I bought with an FHA loan - you can look on the outskirts of major cities, there's a lot of opportunities. You can find some great deals on the outskirts of San Diego too