All Forum Posts by: Carl Mcknight

I agree with Shawn, most investors who are successful are pretty busy people. I would suggest with reading some books first so you learn exactly what it is you want to do with RE. It's not all rainbows and lollipops like the "gurus" tell you it is. Good Luck

Hello, have you checked with your local Code Enforcement office or city housing administrator regarding a "lead based paint removal grant"? The Feds love pissing away money on this "lead" hocus pocus stuff. I'm from California and ran into the same issue on a purchase I did 2 years ago. I actually bought the property hoping it was infested with lead because I knew about the program. Through the "lead based abatement" grant, the city I'm in gave me $24k in fix up repairs as long as I agreed to rent to "low income" for 3 years. Good luck

I already have 4 mortgages and am looking to do a 5th as a cash out refi in California on a SFR I own free and clear. I have adequate reserves but need find a lender. Can you point me in the right direction?

Hey John, I'm in California also and have been in your same situation before. Not sure which part of CA in you are in, but try the Educational Employees Credit Union, they have branches all over CA. They will do a cash out refi based on the ARV of the property, not the purchase price. The EECU will let you have up to 2 financed rental properties which they will keep on their books, regardless of how many total loans you already have. You have to own it for 6 mo though.
Another option may be to use a commercial lender. You can place a commercial loan on a free and clear property for up to 75% LTV (depending on the bank), get your cash out and move on, after a few years refi into a portfolio loan.
Hope this helps, I like to see people succeed.