All Forum Posts by: Diana Rivera

@Collin Chan that's a great idea! I'm going to a Deal Maker session today. I'm going to see if there is anyone interested in working together there and if not, will definitely post on BP to get that going.Thanks again! :)

Thank you so much for your response Brendan! I posted to see if I find a few contractors I can go with for an actual estimate. My original thought was to give a range in price for the offer and then see about going in based on his response. He's motivated to sell, but has good tenants, which keeps him unsure. I was also originally thinking for wholesale, even if my fee is minimal... just so I have the experience under my belt. Thanks again!

Can anyone recommend a general contractor in the Long Beach California area? It’s for 3/2 SF home. 1445 sq ft.

I have someone who is an absentee owner with an older sick father that is interested in selling in Long Beach.

Zip 90806

3/2 1445 sq ft.

Property is on a busy street which I know it’s not a plus. By Pacific Ave and 28th street. 

Has been renting for 14 years to the same family and so that was the last time he remodeled. Did new flooring at the time as well as replaced Sheetrock with drywall, new pipes, kitchen, double pane windows, and HVAC system.
Plus 5-6 years ago put a new roof.

Based on 3 comps I pulled the ARV of his house is $553k. propstream says valued at $581k. After multiplying by .70=$387,100 . I believe usually for repairs it's common to multiply $100/ sq ft ( for LA/Los Angeles area) but based on the upgrades he has and it being in Long Beach ( about 20min from LA) and all do u recommend a lower number per sq ft.? Otherwise I'll be offering him 1/2 of what my ARV is.

I really appreciate any feedback anyone can give. Thank you in advance.

Diana Rivera

I wanted to run this property information by the group to see what you thought. It may be my first deal if things workout. First of all I decided to market from Redondo Beach down to seal Beach… Any feedback on those areas would be appreciated.

I have someone who is an absentee owner with an older sick father that is interested in selling in Long Beach.

Property is on a busy street which I know it’s not a plus.

Zip 90806

3/2 1445 sq ft.
Has been renting for 14 years to the same family and so that was the last time he remodeled. Did new flooring at the time as well as replaced Sheetrock with drywall, new pipes, kitchen, double pane windows, and HVAC system.
Plus 5-6 years ago put a new roof.

Based on 3 comps I pulled the ARV of his house is $553k. propstream says valued at $581k. After multiplying by .70=$387,100 . I believe usually for repairs it's common to multiply $100/ sq ft ( for LA/Los Angeles area) but based on the upgrades he has and it being in Long Beach ( about 20min from LA) and all do u recommend a lower number per sq ft.? Otherwise I'll be offering him 1/2 of what my ARV is.

I really appreciate any feedback anyone can give. Thank you in advance.

Hi there! I’m hoping to be able to make it out to meet and network with everyone. It says there’s a cost of $2.50?

I'm looking to partner up with someone that has experience in the Chicago area to fix and flip. I am a newbie, but looking to grow in my realestate investing experience. I'm from Chicago, so I am familiar with the area. Please inbox me with any questions. Thank you!

I'm looking to purchase, wholesale preferred, in the Chicago suburbs. Specifically, but not limited to West Aurora, West Chicago, Montgomery, and Lansing. If anyone is looking to sell, please contact me!

@George Skidis I sent you a PM to confirm her contact info! Thanks again!

Hi everyone! I'm looking into loan options. I just got off the phone from speaking to a lender. I don't qualify for an FHA or regular conventional loan due to the fact that I did a short sale in 2016 so I was asking him about doing a hard money loan. He told me that even with hard money loans which are for short term investments you are required to keep the loan for 6 months or a year??? He said if not they will hit you with a pre-payment penalty? Is this true? He recommended I do a Non-QM loan, which I had never heard about but he says if I do the full document version of this loan ( they verify income) I can put 10% down instead of 20% as with a hard money loan and the interest would be 6.75% vs 12-15% with a hard money loan. Obviously the Non-QM loan sounds like a better option, but I'm still stuck on what he said about having to hold the property for at least 6 months regardless of loan option. Anybody know the ins and outs of hard money loans that can verify this?