All Forum Posts by: Gary Wright

thank you all for the great feedback!  Very helpful.

I have my sights on multi-family props in the San Diego area. When FHA says owner occupied, does that mean one of the units has to be a primary home? Can I use one of the units for a year as a commuter residence (live there 4 days a week) and quality?

Second question:  If all the units are occupied, is there a way to encourage a tenant to leave (evict)?  I'm not finding any so far that have a unit empty?

Thanks for he advice.

$249 for Tarbell Real Estate school. They will reimburse if you make a sale in the 1st year. $2000 for Abundance learning. Gave me a good basic understanding of REI. A few books under $50.

How much is the initial purchase?  I certainly don't want to spend $14,000.

who can tell me about this in California.  I hear this is a great way to go after foreclosures.

Seems, I'd be better off moving to Las Vegas instead of getting taxed to death in California.  Seems this state is bent on starving business in favor of the indigent.

I think the bigger question is that now that you are in California, if you transact a property in California, yet deposit the proceeds in your LLC Bank Account in Indiana, where is it taxed?

I have my LLC established in Las Vegas, with a physical business address in LV and LLC bank account in LV. If I do a wholesale, LO, LP in California and deposit the proceeds of the transactions in my LV account, where am I taxed?

Hi Nicole - Brian Gibbons can help you out. @Brian Gibbons.  He is very knowledgeable in this area.  

there's a good application called Real Estate Property Pro that helps to identify distressed props as well as property searches.  Unfortunately at its only avail through a guru or for $3000.  I'm using it to seach Pre-foreclosures.

I was studying material provided by Brian Gibbons last night on Money Section.  I haven't finished reading yet, but noted the following questions while I was reading:

1. Is it practical to do Subject To on HOA Liens? I have found several in my area. Seems these could be distressed properties and worth reaching out to them to see if I can strike a deal? Thoughts?

2.  What is the inherent risk on Subject To, Land Contracts, etc. of the seller wanting their property back after I have paid payments for a period of time?  I'm assuming this risk is handled in the contracts?  Am I on the right track?

I'm finding this material very interesting. I don't see deals structured with Subject To or Land Contracts in my area. I suspect because I haven't been close to REI and wouldn't know. My past dealing with REA's didn't expose me to these types of purchases.

The material is like a good book, I can't put it down now.

Would love the communities perspective.