All Forum Posts by: Lenny B.

Thanks guys for your feedback.

Hello everyone,

I am thinking of using a HELOC on my primary residence to buy a duplex in Sacramento. The property is a fixer and a probate sale, so has too be a cash with no contingency offer, hence the need to use HELOC. However, I am not planning on flipping the property, I want to buy, remodel and hold it to rent out.
My question is whether it's possible to convert the balance on the HELOC to a mortgage on the fixed duplex, instead of adding the balance to my primary residence.

thanks.

lenny

@Catherine German, would you please share what type of units and what areas in Sacramento would work for this type of rentals? thank you.

@Sandra Hallman, thank you, I would be interested in that. I am planning to be in Chicago at the end of October and would like to line up a few things to check out and consider. 

If anyone else has suggestions on B or better cash positive neighborhoods around Chicago, I'd love to hear. Thanks everyone!

Hello, I am considering out of state (out of California) investment in Chicago area. I connected with a few turnkey providers, but they seem to focus on the C neighborhoods, like Hazel Crest. I am more interested in upcoming neighborhoods like New Lenox, Orland Park, Homewood, etc. 

So, I am looking for investor-friendly realtor/broker who can connect me with a good contractor and property management providers.

Thank you 

Lenny

thank you @Gordon Cuffe, great stats!

I do see a small uptick in the amount of listings in Sacramento area. Not sure if it's a seasonal trend. Prices are still high, about 10% higher than same time last year. Would love to get more analysis on Sacramento area. 

hello, I am looking for a recommendation on an investor-friendly realtor in South and/or North Lake Tahoe. Someone who's done land transactions as well as fixer-upper/SFR/MFR.

thanks,

Lenny

hello my fellow BPers! I am considering buying some lots in South Lake Tahoe, CA city limits. Some lots have existing houses erected, but they are pretty much not re-habable. Does it mean the lots are buildable? Also these lots have adjacent empty lots (5000 sq feet), which i was told were not buildable. South Lake Tahoe TRPA agency has very complex logistics about the use of land.  In addition to a simple zoning, there are things like IPES Scores, Coverage %, compact soil presence, stream zoning.

So, my questions is what information I need to gather before I make an offer and what contingencies do I need to think about. 

thanks.

Lenny

@Alex Craig, thanks for the info, it's very insightful. I am currently evaluating turn key opportunities in Memphis. So, I guess, with your numbers, the 8% maintenance will be deferred to a post warranty period that some TK companies offer.