All Forum Posts by: Gordon Cuffe

@Mansoor Fazelwhen you drive around del paso. 95838 you will know right away that your in the low rent district with bars on the windows and chain link fences up to the side walk. You also just need to drive around parts of west sacramento to see the difference in the good and bad areas. You can also just look at listed prices online. The lower the price then the rougher the area. If you ever have questions about financing primary or investment houses, please ask.

@Jie Li yes those 3 zip codes are in the hood. A person can find houses from 10k to 20k in those zip codes. I have never worked with MC properties. I have purchased and sold in Kansas City. That 60k house sounds like something you can find right off the kc mls. You can always private message me a addess and I can tell you what you should pay.

just an fyi.  you have to put the @ symbol then no spaces and then the full name of the person in order for it to notify the person and highlight their name

I would say it is great to get the VA loan to buy your primary residence. The one mistake I made was over leveraging my rentals so that when I had some vacancies during the economic downturn I didn't have enough savings to cover the mortgages. I would also suggest getting a property manager if your not experienced with screening tenants. A bad tenant can cost you thousands of dollars. Property managers only cost 10% of the monthly rental income. It might be scary at first but in the long run you will be better off than the person who never gets into the property investment business.

If your paying 45k or over , I hope that you will get 800 or more in rents. Don't buy a house for 45k  in the 64127, 64128 , 64130 zip codes. You will be paying too much.

sorry I cant read that. Are you selling some homes? 

One of my buyers is using Arvest bank. They do cash out refi's if you have enough equity. I can tell you in a week if they approve the loan for the buyer. You can check with them to see their max ltv on cash out refi's.

you mentioned that the values are 70k each but how much do you owe on each?

I remember one lender around concord who would fund 100% of a fix n flip but you would have to split the profits with them 50/50. They had a min. profit margin. I cant remember their name but if you even think that is a option I can look them up again. 

I can find you a loan if you put some money into the deal.

there are small suburbs around the Kansas City area that a person can find a good house at 45k and above. Do some research on Raytown, MO and independence MO to see the prices and rental incomes. I can send you an example of a address in the 45k to 50k range that is rehabbed and can rent for $850.0 per month.