All Forum Posts by: Christian J Ramirez

@Arturo Ortiz I found 12 Multifamily homes in the area under $400K. Based off a quick search.

@Arturo Ortiz There are some parts of North San Bernardino that are great. Highland is pretty good. North Colton is awesome. But we'd definitely have to research individual neighborhoods.

Navy Federal Loan Officers have explained that even moving to a "larger house" or "better area" justifies as good reasons. But it does mean going from a 2Bd to 3+Bd home or showing the lower crime rates in the new area.

You can also refinance out of the VA Loan at any time (but it could mean a higher APR). If you wanted to buy a second home sooner than 1yr, that way you can use your full VA entitlement. (Owner-occupied of course).

OR buy a second home using a Conventional Loan (5% Down) but it will include PMI.

I have a friend who used his VA Loan to buy a $200K home last month. Entitlement, according in our county, is $484,350. After he meets his 1yr requirement, he can buy his second home using the rest of his VA Loan entitlement to buy a home up to $284,350 at 0 Down then renting out his first.

Today, BP Podcast #311: 6 Rules For Investing In Real Estate in the Coming Economic Shift with J Scott was released!

Very informative and eye-opening stuff!

Today, BP Podcast #311: 6 Rules For Investing In Real Estate in the Coming Economic Shift with J Scott was released!

Very informative and eye-opening stuff!

@Laura C. The home looks amazing. What is the address? I have a friend looking to buy near Rancho. May I have the names of those bad contractors and number to the one that saved the day? I am looking to rehab homes in Chino, Ontario, Pomona, and Rancho Cucamonga.

@Juan Lara After looking through the numbers, I also saw the PMI you accidentally added but you put $1220 for the rent. The average on Rentometer.com, says $1300 and with me knowing Fontana, you can easily get $1400 once you rehab.

That would put you at $309-409 Cash Flow. Also the ARV would be closer to $155K. I understand the home is currently "Contingent" but hope these insights help you in the future.

This isn't a typical manufactured home in a park, this is a solid home built (foundation and all) on 2.2 acres.

I see this home up for sale by owner (3Bd 2 Bth, 2165 sqft) but mentioned "Light-Manufacturing". The post says the home was "grandfathered" into the residential area.

What does this mean?

I ask because the home is split into two homes (2Bd 1Bth and 1Bd 1Bth) and is being sold for 50% value; which can make great cash flow.

Lenders did say 15% down is the minimum for investment properties.

And @Wayne Brooks, yes we got to have 15% for each deal or not. 

Before I began bargaining for a lower prices, my buddy in the area said it was very ghetto. So we didn't pursue. 

Thank you all for your input.