All Forum Posts by: Arturo Hernandez

I just got city approval to convert garage into Jr. Adu. The current tenant is aware of the garage being converted and went ahead and included it in the lease from over a year ago. I'm just wondering if I need to give them a 30 day notice or 60 day notice to get it back? Thanks!

It get's recorded even before her notice of foreclosure. I'm more than sure the lender recorded a pre-foreclosure on the property. People buy these leads. 

My tenants gave 30 day notice, just as I was going to go in to do some mold repairs in one of the rooms. Are we allowed to go in and do repairs during this time and close the gap and not have property vacant for so long?

Best advice as to what I can do during this time to get it rented soon after they vacate the property.

TIA,

Art

I currently reside in California, looking to buy a rental in Phoenix, AZ. I don't have the full 20% down for a rental. However was considering doing FHA and saying it will be my primary home. Being that it is in a different state. Will I have to show some sort of proof from an employer that I will be moving to Phoenix in order for it to be considered a FHA Loan? Any loop holes that anyone can help with to assist with a lower down payment?

Thanks

I currently have my home financed in California. I am looking at a rental condo in Phoenix, AZ. I want to keep my primary home in California and purchase the Phoenix, AZ condo, but don't have the full 20% down that is required by most banks to finance as investment home. What suggestions, does anyone reccomend besides asking to borrow from family, friends, etc. 

TIA, Art

Sorry for the confusion seller is is offering to finance up to 40% and I would have to come up with the rest (secondary financing) Thanks for the response Jeff.

Hi everyone, I'll try to keep it short. Seller is selling two manufactured homes on one lot. Asking $400,000. I have not seen the place aside from photos online. Has been on the market for almost 10 months now. Seller is financing up to 40% of the down payment, 160k to be exact at 6% to be paid in 5 years. The total monthly rent, considering they both rent out all year long is 2800.00 total. I calculated after expenses and debt, etc. to have cash flow of $3428 yearly or $285 monthly. Is there anything else that I am missing or what should I be aware of. Is it worth the headache? Your feedback is greatly appreciated.

Thanks!