All Forum Posts by: Chris Sharp

Hi Andrew, I'm a Financial Advisor here in Modesto and a newbie Real Estate Investor. I am actually looking for my first Duplex here in Modesto at the moment. I have a good family friend here in town that does insurance and I just reached out to him and he said he could help. Would you like me to put you in touch with him? 

I’m looking for the best way to find all (on and off market) small multi family properties in my area. I’m open to all suggestions and strategies. Any help would be greatly appreciated. Thank you

@Todd Rasmussen

That is absolute gold! Thank you so much for taking the time to reply to my question, and in such depth.

I will do my homework and put together these few different options you gave me and see if anything works.

I understand the general concept of seller financing but thank you for putting it in an easy to follow step by step format.

You're the man!

@Joseph Cacciapaglia

Awesome thank you for the feedback. Very helpful information.

What are the best resources available for finding out information on leads?

If i find a deal while driving for dollars what would be the best way to find the property owners information? 

Also best resource for information on how much equity there might be in the property?

Lastly how to find out if the property has an absentee owner and/or other information along those lines?

I know these are very basic questions but after listening to every single podcast, and thinking I know what to do, I'm finding myself getting stuck on what should be easy steps along the process. I've been exploring a few different resources that I have heard of but I'm just curios if there is something that is the best/ most user friendly as this current time?

@Todd Rasmussen 

Thank you for the reply.

That is a good point about mentioning "creative financing" I will keep that in mind going forward.

I am looking to house hack the property and move into it myself. My goal would be to live there for a year and then rent out the last unit and hold onto the property for the long run.

My thought in seller financing would be something along the lines of financing directly through the seller for the first year or so and then refinancing the property and paying him off in full.

Obviously that strategy would work for me, but I don't see what the selling point would be for the current owner.

I have heard stories on the podcast of people doing things along those lines (which is why I thought of it being a possibility) but was just curious if anyone had advice of how to make it a good deal for the seller and not just me.

I'm looking to house-hack a duplex to fourplex in my local neighborhood. I've been making spread sheets of all of the small multi-family properties within a few blocks of where I currently live. A triplex across the street from me just recently put out a for rent sign for one of the units. I used this opportunity to start off my cold calling.

I called the owner and had a good conversation with him in which he said he would consider selling. My main concern (after negotiating the price a little bit) is qualifying for the loan. I make enough to qualify for the debt to income ratios, however my credit is borderline being good enough. I have been consistently working on my credit for the past 2+ years but I started off with terrible credit after a few bad decisions as an 18 year old kid. 

Lastly this property is a little bit more expensive then I was originally looking to spend, however it will also demand higher rents. The issue with the higher price, is the bigger down payment and more closing costs.

I mentioned to the current owner that I would be interested in any creative financing options he would be willing to explore but he did not seem interested.

Does anybody have any ideas of what would possibly work for this situation? I would like to do seller financing but I need to figure out how to structure and present this to the owner that would make sense for him and I and motivate him to take that route. 

Any recommendations would be greatly appreciated.

@Francisco Trejo hello Francisco, I do know a very good fire restoration company, that also does flips in Modesto. Not sure if he would be willing to take work in Fresno but I could reach out and connect you 2 if you would like?

@Jake Leicht

Hey Jake, I see that you have been investing a lot in the Central Valley market. I’m located in Modesto and am extremely motivated to get my investing career started. I’ve been doing a lot of networking locally and would love any advice you could possibly help me with in regards to this local market. Thank you in advance for any response.