All Forum Posts by: Gary Onstad

I found a property I would like to purchase. I'm in the process of selling my home to fund owner occupy deals on multi family opportunities, but I'm not sure I will get to close of escrow in time to purchase the new place. I can't use my home as collateral on a HELOC while i'm selling it. Is it possible to get a quick HELOC loan using one or both of my investment properties as the collateral so I can have the down payment I need for the investment property? I think there is a lot of potential in this deal so I'm considering bringing in hard money or partners to fund it and rehab or add units. Any ideas are welcome.

If it is a service dog you could be found to be discriminating against a handicapped person if you reject them for that reason. Normally I would meet the dog and see if it is a sweet dog or not. However, when people threaten me it is a red flag that they are not nice people and most likely this is not the first time they have shown poor behavior. If you check there application you will find some good reasons not to have them in my place. You dont have to tell them why. Just document your rationale for choosing the best candidate. Don't engage. You can find a better applicant.

I live in San Diego now so managing it is difficult for me. Sure I can place adds and collect rent on Cozy but I need a team on the ground to manage repairs and let people in to show them the place. I also have some messy neighbors, but since I'm not in town can't talk to them, or help clean up there mess. I have had two property managers. One did nothing and I lost a lot of money from vacancy and deferred maintenance. The other did his job when asked but was rude, selfish and noncommunicative. 

Makes me want to sell. I get why some people look for home for rent when they are shopping for investment properties. The sellers are motivated. Its expensive to get a place ready for market. Often it need repairs and updating. If you have the time calling landlords and making them an offer is a pretty good strategy.

One of the biggest problems with owning real estate so far from where I live is finding people on the ground that I can trust to manage and manage and maintain my property. I'm looking for a property manager who can help me with a home I own in Savannah. I've already been through a couple and had many issues. Does anyone have a recommendation?

I'm having trouble figuring out how I would manage a property using funds from a self directed IRA. If I use an IRA I have a transaction fee ($35) every time it writes a check. So $30 to mow the lawn becomes $65 expense. Is there a better IRA or way to make this work? How do you use your self directed funds to buy and manage properties. My goal is to find and buy a mobile home park but I need to get this figured out.

Fellow investors, I will be in Savannah from San Diego From the 16th to the 22 of June. I'm starting the due diligence on a foreclosure I will be in contract on and I was hoping to connect with others that are looking to get in the Savannah market. I already own one rental there and this will be my second. Are there any investor meetings planned in that time period? Anyone want to meet for dinner to swap stories and tips?

I'm interested in buying an apartment building with ore than 4 units in either Savanna or Tucson. To do this I will need to find a commercial broker that can work in these states. Preferably one broker. How do I go about finding brokers that work in the markets I have identified? How d I vet them? Any tips?