All Forum Posts by: Claudio Salvatorelli

Hello Stephen,

That's great that you finally want to jump into RE. 

1) I would use FHA and VA loans available to you and take advantage of that.

2) Househacking will be great to start and to use as a combination of a primary residence plus investment.

3) I would not worry about forming an LLC yet. usually, that is when having +5 properties, However, it is your decision.

Good luck,

Claudio Salvatorelli 

Good that you are starting. I use the BP Calculator is a great tool to check the ROI, Cash on Cash and then take that to your lender.

Hey Adam,

Thanks for the information. 

I haven't read about Bakersfield light rail, Do you know what is the main reason for that construction?  People need to be transported there for a good reason. 

1)Maybe a company is moving there or they need workers for some kind of especial mine.  

2)I have been to Bakersfield myself, it is a desert not that many stores, and a forgotten town of California near Route 66 but that might change. There is a probability that city plans from Fresno to Bakersfield are gentrifying and expand the population inland. Sounds like might be an opportunity especially for multifamily for low-income people who plan to works and live in Bakersfield.

Hey Jason,

Nice move, looks like a great historic building and the price is not bad either.

Hey Juan,

Congrats, I recommend having something in hand before leaving/selling your property to someone else. The reason is that inventory is low and capital gains also will eat part of your $1.25Million. That's why 1031 Exchange is a good option when you have another property on the hook.

Cheers,

Claudio Salvatorelli

Hey Edward , 

I recommend to rent a container where you can storage safely all the tools,supplies and valuables. You can use a big lock and have it in the front yard where people/neighbors will see suspicious activities and alert you before something might happen.

Hope this helps,

Claudio

Your welcome, 

Basically, a cloud on title is any document, claim, unreleased lien, or encumbrance that might invalidate or impair a title to real property or make the title doubtful. Clouds on the title are usually discovered during a title search.

I found that exact definition in Investopedia all the credits are to them, Long story short, you should run a title search before investing in it, especially if you pay cash for it.

Hope this helps,

Claudio Salvatorelli

• Hey Megan,
• This happened to one of my rentals a couple of years ago with a fish smell I recommend to do this
• Once you find the affected area, clean it by scrubbing the surface with a mixture of household detergent and water. Don’t use bleach, as it only kills live mold, but not mold spores, leading to faster mold growth. Then, dry the area using ventilation and dehumidifiers. Make sure the area is dry before doing any repainting or reconstruction.
• If the odor comes from the carpet, first, fix the humidity issue that causes the musty odor. To deodorize your carpet, spray it with a mixture of 1 cup of white vinegar and 2 cups of warm water. Then, pour baking soda on the carpet and wait a few hours. If the odor persists, repeat the process. (Make sure you spot test first to avoid potentially damaging delicate materials.

Hope this helps

Hey Ryan,

Looks like a great find however I recommend inspect the title and make sure is free of easements, encumbrances, and clouds. 

Hope this helps,

Sincerely

Claudio Salvatorelli

Hey Frank,

From what I read I can tell you the best way to get financed is to finding deals. HML usually looks for the potential of the deal/property.