All Forum Posts by: Anita Ahuja

@Bob Okenwa

Thank you for your reply. Yes, the exit strategy wasn’t clearly outlined from the beginning but my partners are very willing to do what makes sense for me ( the money partner).

What I’d like to do is buy it for what’s into it and rent it . I’d like to at least make 200-400 a month to start with. It’s not a lemon. It’s a nice house w a nice pool in an area that is yet to turn around. The address is 3329 east palm lane in Phoenix. Would love your input once you take a look.

One thing that's great about REI is when one strategy doesn't work, there's always a second strategy to try. I don't see a downside in buying the house for under market value. I can even buy and hold for some years.

Thanks!

Hi BP members! Happy holidays to you all.

I’d like some advice on a flip I financed in central Phoenix . Basically I’m 127k into the finished flip. The labor partner ( guys who did the flip) are in about 10k, the rest is a hard money loan for about 130k. The labor partners own the home.

Unfortunately, the house has been sitting on the market for 60+ days now and with holding costs being around 1800 a month, we need to do something w the house.

I am considering buying the home from the labor partners. This would basically have me own the home outright and be able to put tenants in it ASAP.

The house is currently asking 310,000. After doing the math w the BP software, I basically need to buy the house at 285,000 to be able to break even, recover my money and carry the loan. This is expecting 1900 rent and accounting for pool fees, maintenance, 5% vacancy, 8% management ( I live out of state), property taxes , closing costs and a 6.5% 30 y loan after putting 25% down.

My questions are

- am I hurting myself in the long run by buying the house for less? Am I bringing down the value of the house?

- what can I offer the ground (labor) partners given that they will have lost a lot of time on the fix?

- any other red flags with this?

The partners are a stellar group of individuals who have integrity.

Thanks in advance!

Anita

Hi. In order to fast track my real estate investing, if the numbers make sense, toying with a househack brrrr idea. I would love to get the opinon of other bay area folk who have considered this and/or doing it.

Heres my thought process--> 500K equity in current home--> sell home--> find a househack in either Oak, San Leandro or Alameda ( sticking to these areas because I want my kids to remain in the school they are in). Obtain home w traditional financing and put ~ 80-100K renovations. --> move in and obtain renters or airbnb--> refinance home --> take out equity for the next project

This is a househack BRRR

My criteria however are:

- safe area ( I have kids)

- Our unit must be at least 3 bedroom, 2 bath

Please be kind as you dissect my situation.

@Michael Evans

Thank you

Hi I hope I am posting this in the right place. I’m In search of an investor friendly agent in the east bay, Oakland, San Leandro, alameda. Thanks!

Hi all! I am looking to learn as much as I can about the rental market here in the Bay Area. I believe even though the prices are high, there is opportunity to be had.

Anyone in the SF Bay Area/East Bay successfully house hacking or BRRRRing here? I am quite interested in meeting with anyone who is. Looking to gain some experience, partner or just sit down for a coffee.

Thanks in advance!

Jon Holdman its a first position loan.

Thank you. I have not lent the money yet. I appreciate the responses

Hi fellow BPers. I’m in search of some advice: I agreed to lend 50k to a fellow investor/flipper in exchange for 10% interest, min of 3 mo, max 6 mo. I have a lien on one of their properties (worth 175k) until I get paid. I agreed but now I’m nervous and want to back out. Please advise. Is this a regular practice. I don’t know these investors well enough yet to blindly trust. Having a lawyer review the docs will cost more than the interest earned. Thank you in advance!

Hi Lucas, let’s talk offline. Id like to learn more. I may be quite interested .  My email : [email protected] 

Thanks!

Anita