All Forum Posts by: Chris Music

Welcome to BP! I've been to meetups hosted by @Johnson H. and @J. Martin, a great place to meet people that are active in Bay Area.  

Rami,

I am not a buy and hold investor, but it seems to me like you need to determine if you are in it for cash flow or appreciation. Then focus on the market that will maximize the return on your primary goal. 

Hello BP, 

Through my marketing efforts I have come across an investor who is looking to sell a Victorian in Willows, CA. The house has two in-law units. Can be rented to one family or three separate tenants. She is asking 237K if cash offer, rents would be about 2K a month. House has been updated. 

Willows is mid-way between Sacramento and Red Bluff, about 30 minutes west of Chico. 

I am a fix and flip investor so this doesn't fit my criteria, could be a great opportunity as a rental. All you buy and hold investors send me an email for more details. 

Thank you. 

Bill, thanks for sharing your story, always good to hear a direct mail sucess story! It's one of those things that takes time and money but if you get it right, it is well worth it. Good luck closing those deals!

@Stanley Miller and @Leyla Simsek welcome to BP and wholesaling. You've come to a great place to learn and network. I am flip houses in the Bay Area with a focus on Solano County. Send me an email, I'd love to discuss further and let you know what I look for in properties as well as assist by providing input on questions you have. 

[email protected]

Hello, 

Just got a hit off my website. Seller is looking to sell their house in Hayward and is looking for a buyer that will rent the property out to their friends on a lease option. The friends want to buy the house but are having trouble qualifying for the mortgage right now. Could be a nice rental for a couple years then cash out. If this is something that interests you, email me. 

Andrew, 

Sounds like a good idea, assuming you have the ability and money to fix the place up. The fact that the house is a foreclosure doesn't really matter in the sense that you can still flip it for a profit just like a non-foreclosed home. Make sure you inspect the house, depending how the previous owner treated it and how long it's been vacant will affect your rehab cost. 

Getting a loan on the place depends on your situation, credit score, money for down payment, income, etc. You could get a hard money loan that will go out a year but that's goling to cost you higher interest than a traditional mortgage. There are plenty of options you just need to look at the numbers and determine which is best for you. 

Matthew, 

Working with an experienced partner is a great way to go at it your first time out. Just make sure that he takes the time to educate you and that you aren't simply a finacial partner. In regards to this deal, you two could establish an LLC in which you both share interest then purchase in the name of the LLC, this is more paperwork and cost, but the propertyt would be in both of your names. If you didn't want to go that route, I would be comfortable with a Joint Venture Agreement, Promissor Note and a Deed of Trust. The Deed of Trust is what is recorded with the county/city and is the document that gives you claim to the property, that would be a must for me in this situation since you don't know this gentleman personally. Good Luck!

Starr, 

I'm not a buy and hold investor but sounds like a solid plan to me. In regards to taking money out of the first SFH, I don't think it matters where you buy it, as long as you own it free and clear and have clean title you should be able to pull some money out. Be careful at the auction, that's usually a game for experienced investors, make sure you due your due diligence, you don't want any surprised when it comes to liens or repairs.