All Forum Posts by: Nathan Diones

@mattsilverstone take a look at or Google 6086 Sunburst Ave Joshua Tree, CA.

We have had them sign an NDA prior to receiving any cash upon the day they move out.  We have not had a problem yet with this setup. 

@ewareza CA eviction moratoriums are creating chaos amongst our partners and clients. Our most successful tactic thus far with non-paying tenants is to come to a reasonable agreement (case by case basis) usually resulting in forgiving all of their past due rent due to covid-19 and offering a cash for keys buyout. 

Thank you. I'll look into it by Monday. 

Hi Andre - I have some land in JT as well and currently selling it, also looking to acquire more.  Do you have an APN number or address you could share for your land? 

Look up Bill Exeter 1031 Exchange Services, out of San Diego.  He can defer all the gains via a 1031 exchange but will have to replaced the downleg (relinquishing property)  with something greater and replace the existing debt (if any) with equal of greater debt.   Almost sounds like an exchange is not needed and he can just carry back the note at 100% financing and defer the gains tax over the life of the note. 

You can order a property profile report from a local broker or agent and it will display the tax rate based on purchase price and any supplemental tax over and above the typical 1.25% - 1.3% tax rate. 

I know of two separate lenders that are offering HELOC loans on rental properties. It's been like a new-found gloryhole to me for leverage. Downside is they only will go up to 60% LTV. Upside is it's pretty cheap interest only money at 5% or less. You mentioned you having other rental properties, maybe you can squeeze a HELOC loan out of them to fulfill the purchase of the subject property herein.

Or another possibility is considering taking on an equity partner or joint venture partner.

Hi Daniel - Depending on the commercial lenders in your area, they are going to require at least 25% down, maybe closer to 30% down with a minimum debt coverage ratio of 1.25 or greater. If seller financing is an option with $100,000 down payment, I would definitely want to know the terms and interest rate the seller desires.

In order to raise $100,000  to acquire the property vs losing the deal, you might want to consider an equity partner or joint venture partner. If the actual numbers and upside of the deal offers a value +/-  $1m or greater after repositioning property, I don't think you'd have a hard time raising the money at all.

Heck I might be interested myself in the equity position  or joint venture with you depending on what your  short and long-term goals are  for the property.

I sit on our San Bernardino County Assessment Appeals Board in Southern California and I've never heard if such a thing as your scenario.  You should contact your county and go through the appeals process to have the taxable value lowered.