All Forum Posts by: Faiz Yusufi

@Tim Shoultz hey Tim, I'm actually looking for a lender for a transaction with 2 1/2 years left on the lease but can't find financing. Which loan broker did you use that was able to help you with the property that had 3 years left on the lease? Please let me know if you get a chance. Would love to talk to them about my deal. 

@Will F.

I am wondering the same thing as you.... I live in Woodland Hills and we've had two huge apartment complexes with 200+ units each just go up in the last year. I do residential lending and houses are getting multiple offers in decent neighborhoods.
I've seen all the construction by DTLA as well.

I'm looking to buy a rental property in LA but don't know if timing is right or are we at the peak? Rents and home prices are outpacing income - and if mortgage rates go up the market will definitely take a breather. I just don't see the mortgage rates going up though. I agree with what @George Gammon said above. The numbers aren't telling the truth.

Thanks for the welcome everyone! I really appreciate all the great feedback. I knew joining BP would be a great experience, but you guys have exceeded my expectations already.

@Ryan Landis

I don't have any special connection to Stockton/Sacramento - just cheaper entry point. I took your advice and started researching some So Cal areas and was surprised to see some reasonably priced homes that can generate a positive cashflow. EX - I saw a duplex asking $400k and generates $2,750 a month in rent. Haven't worked the numbers fully but at least it gives me some hope.

I've considered a 1031 exchange but these two properties are a blessing. Tenants pay rent on time, long term 5+ years and do their own maintenance. Can't ask for more and don't want to give it up!

@Account Closed

Minh, your post is amazing as always. Read a dozen of your other posts and your always have a great perspective on things. 

You're right. Now I'm thinking about that duplex I mentioned earlier...school ratings near the house sucks. Maybe tenants suck? Positive cash flow, yes - but how often will I have to deal with late payments or even evictions...

Question for you, you mention the next downturn....I've been thinking about this for some time now. I'm a residential loan officer and I know the loans we are doing now are solid loans. Full verification of income/credit/assets etc. Yes, LTV is high on some deals at 90-95% but the borrowers qualify for the payments. Last downturn was started by borrower's defaulting on bad loans. What do you think will cause the next downturn? I believe the only way real estate prices will start going down is if people start losing jobs and start defaulting on their loans - or if the mortgage rates go up to over 5-6% (which I don't think will happen at all - it's tied to the gov't treasury yield and there's no way in hell they can afford to pay more interest on their debt). Is there something else you are seeing that can cause the downturn - trust me, I'm all for it. I would love to buy cheaper real estate.

Hey @Todd Rizzardi  glad to see you're so close by. What do you do?

Thanks bud! @Logan Allec Looking forward to connecting with everyone!

Hey everyone!

After days of reading up on BP forums, I've finally decided to join.

I am from Woodland Hills (Los Angeles area). I currently work as a loan officer. I own two residential rental properties in the San Francisco Bay Area. I bought them in 2008 for $200k each and they have gone up to about $400-$450k. I am looking to expand my portfolio.

Right now, I can access the equity in the properties (about $190k total) and have about $100k cash. I have thought about buying multifamily units (5+) somewhere like Stockton, CA or Sacramento, CA. I have no experience with them but I know that the lender's qualify on cash flow - which I like...and also the fact that appreciation can be forced for multifamily properties.

Just curious to see what the experts on BP would do if they had access to the funds I do and wanted to expand their portfolio. My whole goal is to build passive income to retire early from.