All Forum Posts by: Allen Maris

@Jennifer Gardner - I've been in the same boat. It can be scary when you think about the larger numbers, but just keep in mind, they're just numbers. If it's a $100k house that makes you money vs a $1m house that makes you money, there's not much difference. Just focus on the fundamentals of the cash flow. 

Also, 2 cents here but trying to pull off a 1031 in a market like this is very hard. You might be able to if you don't tie the 1031 as a contingency on the purchase. Though if your properties are desirable, you should be able to start the sale as soon as you get the purchase under contract. But think safe as an option that you're getting taxed on the value. 

Thanks, will be east coat looking at some properties. Next time!

I think we're missing some info, as Chad asked. What property would be a cash-out refi? Also, those fees you're getting quoted are pretty high for such a small loan. And also, where are you looking to buy at such a cheap price point? Not anywhere in our area!

Be careful your broker isn't selling you on something you can't do. Remember, don't pay any upfront fees out of pocket to a lender. It should ALWAYS be paid out of escrow at the close of escrow when they provide funding. There are a lot of shady people offering mortgages that they never intend to fund.  

I'm needing to replace my CPA, he's gotten too busy to help me these days. I need someone that isn't too conservative. They should be versed in rentals & fix and flip strategies and reasonably priced. I also want someone who will know me and my situation so if not a sole operator, a small firm that will always let me work with the same person. 

Thanks!

Areas in Socal and Central Cal:  Los Angeles County, Santa Barbara County, San Louis Obispo County. But willing to consider others too. 

@Baird King - Glad it went well. I'm adding next month's to my schedule!

Great work getting this together. Sorry I can't make this one, but next time hopefully will work. 

Hi Freddy,

Good start! Welcome to the site and RE in general. You are correct, rentals are pretty darn hard here at this time. But in the future, it may work. Flips work if you can find an off market deal, so don't get discouraged. People can make money in any market. 
Keep listening but one thing to keep in mind. It's an amazing podcast but they have to also cast a wider net and try to appeal to a lot of different areas of RE investing. Find your focus and stick to it. Don't get shiny object syndrome and get distracted with 20 different routes to take. So don't feel bad about skipping over a podcast that isn't in your focus. There's usually stuff to learn, but assuming an hour each, that could be many many hours you get to spend listening to things that will apply to what you want. Go back later and listen to the skipped episodes if you want.

There's a meet up happening on the 17th in SB. Check it out.

Good luck!

Eh well, my sister decided to fly in that day so guess I'm out. Another time!

I could do the 17th too. @Baird King - Yep, I'd come over the hill since most of you guys are on the downhill side.