All Forum Posts by: Cameron Stevens

@Jay Hinrichs I am in the same boat as Kyle. I made a $40k build deposit (first deposit on 10/2022) and we have yet to break ground - or even finalize permitting. The land was a separate all cash purchase.

On top of that- I call GC and email every week. I get a response about every other month- always with false promises, and never direct answers.

Do you have any advice for how to handle situation? Is it possible to transfer a contract to another builder? Thanks

@Kyle Wegg @brad k @Hubert Lam I posted to Kyle on a separate post. Is it possible for all of us to connect together for a call? I am having a terrible experience with Blacktip. Thanks

Does anyone have experience dealing with Martel Turnkey or Rent to Retirement? Or other turnkey rental companies? Recommendations? Thanks!

Does it make sense to own a property in an S-Corp (I already have one set up)? Would it be worth it to set up an LLC in order to deduct business expenses associated with RE (education, travel, office supplies, etc)?--or can I do this now with my existing S-Corp? Thanks!

Any recs for a contractor in Long Beach, CA? Thanks!

I live in Los Angeles- but don't have enough access to capital (and the numbers don't seem to pencil) to BRRRR in this market. If I can access hard money between $50-75k (this has to be Total all-in cost- refi cc's-rehab cost-initial cc's) where is the best market to BRRRR?

I live in Long Beach and am looking to get my first deal (hopefully first of many many more!). I have 30k to put down, and am working to get that number up to 50-55k. I'm going after a 3.5% FHA loan.

I can’t decide on strategy between strategies. I want to make sure I a make the best move possible so that I can be set up for the next(2nd) deal! It’s causing me to feel some analysis paralysis big time. Here are the 3 strategies I’m torn between:

1. MFH (Duplex) in Long Beach and live in one unit. target price is 900k-950k. At this price, I’d need $2500 at least in rental income (which is right about market 2500-2800). This leaves me paying $3k monthly to mortgage. I wouldn’t be able to move to 2nd deal until I can refi out of fha/mortgage ins (this is the only way this property becomes pos cash flow with another renter taking over my unit)

2. SFH that needs work at 500k and use a 203k loan. This way I could force appreciation and refi out of loan faster. For exit- I could sell (live and flip) or hold and rent. The issue is I would have to find more capital for deal #2. Tough without cash flow.

3. Go long distance- the prices and the rents in la county don’t line up! Stay were I am renting a place and invest somewhere I can generate immediate cash flow. Buy at 150k-300k range and rehab, rent, refi, repeat.

Help! What would you do?! Thanks!