All Forum Posts by: Derek Jones

You could go the non-qm route and do dscr loan for 80%ltv cash out.

Cash flowing multi family properties is possible just not really in your popular areas.  Seems most are banking on appreciation and not so much cash flow. 

Unless it's a very unique property I wouldn't bank on short term rental for Citrus Heights.  If it's a sfr, you'd have to get a pretty good deal(or ability to add to it) on it for it to cash flow for a long term rental.

I'd probably say sell and break even/cut your losses. From what I can see you owe $515k on the mortgage, another $55k on higher interest loans, and another $42k on your HELOC. You mention value MIGHT be $650-700k in a few months so it's not there now. How are you going to pay off that $55k? I currently don't see the equity there to do a cash out refi. Was you -$300/m factoring in the $55k and $42k? Or just the mortgage?

Is there a special product you're looking for?

Since you already know it's wet, what's the foundation engineer for? Plan on raising elevation? Install vapor barrier, fans, or drainage pipes to remedy it.

Cash out refinance your current properties...

Are you looking for a better return in Sacramento or asking if Sacramento has a better return that another city?

 Yup, it's been like that for a few years now.  Any possible flip opportunity gets multiple offers and winning offers usually have slim margins.  If it's on the mls you can expect 20-40+ offers if its a good flip opportunity, and expect it to go quite a bit over asking.  You'll find your best deals off market as you'll have less competition. 

If it's on the mls it's probably not that much of a deal.