All Forum Posts by: Curtis Chism

I'm working with a client who is interested in purchasing a house as a rental in San Diego County (not the city) that is on nearly 2 acres of land. He'd like to subdivide it to build a second house and rent that out as well. I'm not sure how to find out if the property is able to be subdivided. Can someone point me in the right direction? Thanks so much.

Cheers Sebastien and good luck in your decisions/search!

Donald,

I’ll DM you. I have a friend that is a house flipper in the area that may be interested

@Matt Banahan smaller towns mostly in Indiana I believe. I think one or two other states.

Congratulations @Taylor Eilers and @Account Closed for closing on your properties!

Hey Matt, I think investing out of state can definitely work if you have the right team on the ground there. That can take a while to build out remotely. I just met with a friend who owned 25 units out of state but bought in areas he didn't have a great team/were higher risk/reward opportunities that just didn't work out for him. He's selling them all off now to either invest locally into a couple properties in the San Diego market. Whether investing out of state or in your own market, you'll still want to have a good team in place of course! Cheers!

@mark 

@Mark F. Yes, that is correct. It went up to help cover mental healthcare costs for Vietnam vets. However, if a vet has any level of disability (I believe 10% or more), then the funding fees are waived entirely.

@Rochelle Thea Fabrizio you're welcome! Also, if a Vet has any disability (I think it has to be 10% or more), the fees are waived by the VA as well.

@Rochelle Thea Fabrizio - The lending limits just went up as of Jan 1, 2020. I just attended a VA seminar to review changes to the VA program put on by a local lender (Aligned Mortgage). The changes are encapsulated in the "Blue Water Navy Vietnam Veterans Act of 2019". With this new law, you can get a loan up to $2M with a credit score above 720. Here are the new caps:

580 Credit Score: $750K
620 Credit Score: $1M
680 Credit Score: $1.5M
720 Credit Score: $2M

I would suggest buying for long term investments in general especially in San Diego. Sebastian is weighing renting vs buying, and we’re just suggesting that buying is better option over renting. Agreed that roughly 5 years is the break even point.