All Forum Posts by: Christine I.

I have cash and have been trying to come up with strategies to make the most of it. My latest idea is to buy a STR, ocean front, near where I live in SoCal. Not many options as I am limiting myself to areas that are STR friendly. The going price is 4M give or take. I can come up with 25% down. I went into Chase bank today and they limit investment type loans to 1M. Is that typical of bank mortgages for investment properties?

I own multiple paid off income properties that are all LTR. I guess I could borrow on paid off properties or even sell some of the ones that are PIA. 

Is this a crazy idea to be investing in expensive properties at this time?

Hi @Claire Vaccaro

https://www.caloakspm.com/listings/detail/085250a4-09d1-49d7-84ed-8d65ed4bbc7c

Here's the listing. Hopefully you can open this. We started high but will lower price as needed to get it rented. 

I do like the idea of marketing to traveling professionals. How do you go about that type of marketing?

Hi @Claire Vaccaro! Thanks for the suggestion. I don't think this is the right property for STR. What I really want is Hollywood Beach front to do a STR. I can dream...

My CPA of 7 years retired. He is a nice local guy who acted kind of as my security blanket as I could run anything by him and he always took his time explaining. My husband who was the brains of the operation became incapacitated  and has since passed but I was able to take over control of our multiple long term rentals and keep things going for these last few years. CPA was not specialized in real estate but very competent and got me through some difficult issues.  Am I now better off looking for a CPA who specializes in real estate? What would a specialized CPA bring to the table that I can't get otherwise?

Like others have said, get the county involved. Unfortunately all he has to say when they check up on him is no thanks and they back off. Does he have family who can help out? Who did he put down as his emergency contact?

I would take the hit and return all monies. 

Unincorporated areas of Ventura County are still open. Specifically beach properties in Oxnard. Hollywood Beach. Silverstrand Beach. Very pricey though.

I've heard that David Greene and Rob from BP podcasts are investing in multimillion dollar homes. What is the strategy behind this investing? 

Thank you for the replies to this post @Joe Homs @Andrew Garcia and @Mike Klarman. Seven years ago when I took over the family real estate business we had a lot of properties and a lot of debt. My husband was using the BRRRRR strategy before the name was invented. I've spent these last few years learning to manage and getting rid of debt. Today I have one mortgage that I could pay off now if I wanted to and an excellent property manager that offers me guidance on making the tough decisions. I need to figure out what I feel comfortable investing in. I've watched a bunch of webinars on Delaware Statutory Trusts, trying to learn about Syndications and private lending holds some interest for me. I love being virtually debt free and not sure I have the stomach for being a serious investor. Very much appreciate learning from you pros.

Thank you for your reply, @Andrew Garcia. What to do with the proceeds is a determining issue. I don't believe it's realistic to buy in my area for cash flow. We've had a feeding frenzy going on and while it is slowing, prices remain very high. I think I need to educate myself on more possibilities.  Appreciate the help!