All Forum Posts by: Account Closed

@Joe S. I wouldn’t rent a place without ceiling fans.

@Joseph Bafia Right. That is what I’m considering, but I’m still concerned about what I’ll have to put “down”. From what I have found, it seems lenders aren’t putting up the full property value. I have cash reserves… but I don’t have that much!

Thanks for your response btw!

@Gaurav Mehta For short-er term cig smoke smells I know boiling vinegar in the house works. Not sure how this would work with a smell that engraved? Maybe you can work with that somehow.

I'm looking to purchase my very first property as an investor. I'm super interested in buying a house that is move-in-ready, so I can begin furnishing it and get it right up on Airbnb for listing. 

I have: 

-About $12k reserves

- A few $K available on credit cards

- Almost 700 personal cred score credit. Although, not sure if it matters or not for this

What I don't have:

- Enough biz credit built up to borrow large amounts of money (although...getting there!)

- Definitely don't have enough pull to get a large loan with my personal credit! 

Obviously, I'm looking into hard or private money. 

But is that the right path? Considering my points above, what should I do? I have read every book and article on creative financing and what I gather from it all is....networking. 

Well, dangit. Living in a pandemic makes that pretty hard when all meetings are online! (Anyone that says networking works seamlessly over a Zoom call...must know something I don't!)

Zoom - networking. It's a different beast. So mark that off the list. 

I'm well prepared with my new business. I feel I have all of my ducks in a row, in every aspect.. Do you think I should just reach out to some lenders and see if they'll lend to this newbie at a higher LTV? Because I don't have enough for the remaining LTV.. To be completely honest this funding part...kinda has me up at night. How can I make this happen? Is it possible to happen?

(Might want to mention I live in Southern Cal... Where I plan to begin.)

Kindly appreciate your thoughts and time to read this. Thanks!

@Rod Oliver Gosh I can’t remember if I’ve ever eaten there or not. Sounds delicious though! I’m in Valencia - we’re pretty close! I agree…actually river ANYTHING is great lol

@Rod Oliver I’m highly interested in Kernville as well, planned on starting over there in the next few months.

Kernville is small, but people love the Kern River. It shouldn’t be a problem assembling a cleaning team there, but may be tougher to assemble right now with the unemployment thing going on. Just a guess. But I know they’ve got hard workers over there.. A lot of the Kern River activities are featured there (rafting with an instructor, rafting supply stores, etc.) as well as a brewery.

Do you mind me asking where you’re located? Never thought I’d hear another person ever say they were interested in Kernville as well!

@Kyle Danielson From what I hear in the news…the Nation Association of Realtors has a few lawsuits against them for this very thing. Commission issues.. Literally just heard an update on the situation this morning. Then I read this.. Hmm..

Disclaimer: This is just something I heard and I’m not claiming it as fact. My opinion.

Disclaimer out of the way, I’d say follow your gut/hunch. No one can tell you what you already feel is right…or wrong. Sounds like you feel something is up. What would a second opinion (aka another realtor) hurt?

@Shiyuan Zhang I live in Southern Cal, in fact I’m in one of those cities you mentioned. I would never begin my investing journey here! TOO PRICEY. If you want to invest close to home, maybe check out other markets, such as Bakersfield. That’s a more “reasonable” market. That’s what I decided to do.

Curious what you plan to do? Maybe I can answer questions about investing in Bakersfield. I’m still somewhat new myself, but maybe I can share what I do know!

Best of luck to you whatever route you take. :)

@Cameron Hunt Oh you’ll be fine by then! I did a little digging and research on the topic, and it looks like there’s a good chance by the end of 2020 they’ll be opening the list back up. The woman I spoke to at the sheriffs dept there said the list may seem large, but many people will fall off the list. Some may no longer have their properties, some may have decided never to buy a property, or any kind of circumstance that could cause one change their mind.

That all being said, it ultimately still boils down to a guessing game. But I feel like by 2023 you’ll be good!

Best to you, good luck out there 🙏🏻 🙏🏻

I want to throw in my opinion but it may come off wrong since I’m a female. I’ll say it anyway.

First of all, who cares if she’s paying her rent. And, who cares if she’s paying her rent and not causing any problems. If she’s paying rent, good for her that she’s getting her bills paid! Regardless of how you’ve assumed the situation to be purely as a result of gossip..

Now if she’s drug dealing, that can definitely pose a problem. If it hasn’t already, it eventually will. Drugs and related activities always come with issues. However, sex workers don’t always come with drug activities. That’s a stereotype.

Maybe know your facts before you take action. Send out a letter reminding tenants what is and is not acceptable.

In the mean time… Have a little fun. Go hit up a strip club. Married? Take your wife. You guys might just enjoy yourselves.