All Forum Posts by: Bruce May

Call George at GVK Mechanical Services for HVAC. His company replaced my entire system last October and was by far the best bid I had for the project and I got about 10 bids. He wasn't the lowest price, but he was fair and did a great job.

Welcome @Tommy Vincent, there's a lot of really great things happening in Oceanside. Very glad that I live here.

Welcome @Daniel Spaizman. I'm up in Oceanside but have pretty good knowledge about the whole county. Let me know if I can help you in some way.

@Robin Boyer, just sent you a PM. We lend in Riverside and San Diego markets.

I've used FG Tub & tile Repair. I'll send you a PM with the #.

@RM Smith all of the local clubs have pages on Meetup.com. I'm on the board for NSDREI. If you join our Meetup page, you'll get a message from me that makes your first meeting free. Hope to see you at our next meeting on June 20 in Oceanside.

Send a photo of the property with your letter so they see how bad it looks. That might motivate them to contact you.

@Steven Lange, from what you wrote I don't see a usury issue. Usury in California happens when the interest rate exceeds 10% and you mentioned 7% for 6 months. That's a great rate. Private lenders don't have to be licensed if they don't lend full-time. Paying the $14K is equal to paying 11 points; that sure seems high. Most hard money lenders charge 1-2 points.

Here's a link to the CA DOJ website on usury: http://ag.ca.gov/consumers//general/usury.php

@Christian Konn, we have a bridge loan that allows you to buy the property and hold it while you work on permits, entitlements and plans. It is usually followed up with a construction loan. We don't loan on cargo container homes. Also, you can't live in the property, but you could use it as a rental until you start construction.

@Anita Ahuja investing out-of-state is tough primarily because of the items you mentioned. I've done it, had success and failure. If I was to do it again, I would look for a larger city with low unemployment, large corporations and a diverse recreational selection. I would be searching in middle America. You can do a lot of research about areas online before you ever go there.

I first did this in Indiana. I made a lot of phone calls to narrow down a team of people I wanted to work with, then I flew there and did interviews to make my final selection. That still didn't work 100%.