All Forum Posts by: Alexander Mattson

I'm having trouble finding a 95% LTV for an investment property (non-owner occupied) in Northern California. Anyone have any potential leads?

I have a situation where I am the guarantor of the lease but my roommate is not paying the rent this month and wants to leave early what are my options as far as going after them?

My company has been expanding into commercial real estate. We are looking to find the best property management software for commercial real estate management. A little background is that we have 3000+ multi-family units, 300+ single-family residential. We have been using yardi currently to manage that side of the business. Our commercial management will be under a separate entity so it is not crucial that we stick with yardi for the commercial management, but is yardi good for commercial? are there better options out there? 

I thought this would be a good place to start my search.

thanks.

 We scrap Zillow/trulia/redfin etc. and currently we are in the first iteration of the development. Automatic loan rates are not currently implemented but we are looking to make that addition in the next couple of weeks as further development gets implemented. As far as the details of how we determine undervalued properties, or any further specification of how it works is of course, as you can imagine, a bit of a guarded secret until we can see the full effectiveness of the system.

 I was told that new regulation require that the owner occupy at least 50% of the building that is being purchased. Also that they have stopped giving loans on fourplexes and only give to 1-2 unit buildings. If this is not the case that is great news! How drastically do the rules change depending on which area you are looking to buy? I am looking to buy in CA anywhere from SF to Sacramento.

I have been recently working on the analysis stagy of my first investment property. I have developed, with a friend, a web scraper and algorithm that finds undervalued houses/duplexes to ensure a positive cash on cash return based on local loan and rent values as well as the asking price of the property. I was planning on using this system to do most of the work for me and then purchasing a house/duplex under FHA or FHA 203K loan (depending on rehab requirements for the property). After living in the property for a year (minimum required by the FHA) convert it to a rental. This investment would thus cost me the carrying cost of the first year and as long as I am factoring proper insurance, tax, maintenance, etc should then provide me with a positive cash on cash return to just hold the property and develop the equity/income for my next investment. My major concern is that this is a long haul strategy and thus the income from equity/rent will take years to accumulate. This may cause the expanse of future properties to be slow at first but my hope is that this method insures the continued ownership of the property thus laying the groundwork of a portfolio rather then the flipping game of constantly owning and selling properties.

I was wondering if this is the most effective method or if there may be another method of going about your first investment property?

Also, as this is my first investment, I am sure there are oversights in my analysis and I was hoping people could point out problems that my arise in the method I am choosing to pursue. 

I appreciate any help.

Thanks. 

Alex