All Forum Posts by: Cristal Sanchez

Hi Chloe, I do property management here in Vancouver Wa, 3609219159

very helpful thank you! 

tenant lease ends today. They still have a lot of junk at the house. Since the lease ends tomorrow, and they've had 90+ days notice of non renewal, can I change the locks tomorrow and have their possessions collected and removed by a company, and use their deposit for those costs?

Hi Matt,

I'm also interested in Baja. How's it going for you?

Hi Landon, 

If you're asking what you need to qualify for the 203k loan it's usually 3.5% down and the interest might be a little higher than a regular FHA. Remember that you'll also want some cash on the side for your inspection and earnest deposit (300-400 for inspection and 500-1000 earnest) you'll want to verify with a lender in your area though.

best,

Cristal

Hi Jeremy,

I would recommend that once you choose which property or 's you'll want to bid on have your title company run a preliminary lien and title search. If you were to foreclose on the property owners eventually, any liens on the property may survive the foreclosure and become your responsibility. (For example unpaid garbage, contractor, HVAC,etc...) Since the majority of these properties are most likely occupied you wont be able to see them from the inside and see their condition. Market value on websites like zillow and trulia are not always accurate and can be WAY to high at times, that I've noticed. I would suggest always discussing with your agent if you have one, as they are more aware of differences in market value based on the condition and location. Some websites I'd recommend are hudhomestore.com homesearch.com and auction.com. If you have any questions feel free to shoot me an message through BP or call anytime.

Best,

Cristal

(360) 921-9159

Hi Chris :)

I'm new to BP and am in the Vancouver area. I came across your post. Wanted to check in and see how the purchase went for you? I am currently in a similar situation.

hope all is well.

Cristal 

hello BP

I am considering writing up an offer on my first home tomorrow that has a shop  which has been set up for extra living quarters but is unfinished (also zoned light commercial). I had a contractor come out and look at it and he estimated that for insulation, some leak repairs,an extra wall and drywall I'd be looking at 15k give or take. I'm thinking maybe closer to 20??? My sister would want to live there for the next two years while she saves up for her first home so I figure the cost to finish up the shop would pay for itself and in a few years provide extra income for me by continuing to rent it out or I can use it for my real estate business. The permits have expired, so I also need to look up the cost of renewing them. I also need to find out if I need new permits for renting it out or if I can even do that? Any advice is much appreciated :)

Also if you know of any reasonable contractors in the vancouver wa area, for different opinions, please send their contact info my way! 

 Thanks! 

Cristal

Thanks for the welcome everyone. I started reading the incredibly helpful beginners guide. Thank you @paultimmins I am going to definitely read the guide for real estate agents working with investors, what a great resource! I have considered student housing but wonder if I’d have to deal with a lot of vacancies from students coming and going? Right now we are living off of my husbands income alone, but once we purchase our first home we are going to be using a portion of mine as well. We plan on being conservative with our purchase and sticking to the necessities only. In the future we’d like to use our first home as a rental as we move on up to a home on acreage. @marciamaynard what areas of Vancouver have you found to be best for rental properties? I cant imagine how many students live near Clark college since everything is pretty close and easy to access here in Vancouver. I imagine most students stay living at home? Thank you for your kindness in offering to help!

Again thanks everyone!

Cristal

Hi all! As an agent here in Vancouver WA, I've learned to appreciate the value in investing in real estate. My husband and I married very young (19) and had our oldest daughter the following year. Since then, we've strived to maintain a strong family bond, while juggling work and higher education. Our schedule has always been at the mercy of our academics and jobs. Fortunately, my husband and I have always worked opposite schedules, and so it worked out great because we've never had to pay for daycare for our two girls. Now my husband is ready to focus more on his last two years of school and quit his repetative, dead-end job in hopes of attaining his career in Business Admin. We are ready for some more control and security for our future, without sacrificing our time with eachother like we have been. The market in Vancouver is great, and has plenty more to offer, which I'd like to tap into and get started with opportunities to learn about rental/investment properties.

I've been playing bp podcasts everyday!  My oldest daughter has even learned to ask permission while I'm listening to my show to get a quick yes for the sake of not being interrupted haha! 

I'm excited anand greatful for discovering bp :)

Cristal