All Forum Posts by: Gordon Cuffe

@Ranjit Sandhu I will pm you asking for the price. If it can be flipped then I am interested. 

@Angel Celis LopezI just looked up escrow fees from chicago title on a 350k purchase . The escrow fee was $580.0. The title fee was $706.0. There is a $225.0 notary and you will have a couple other small fees. The fees do not matter when wholesaling because you do not pay them. The end buyer pays those fees. It is highly inlikely to find deals on zillow because everybody can see them. You can send out direct mail with a 1% response rate. You can cold call. You can text message. You will need to send out messages in mass amounts to get any traction. You can try door knocking to people going through foreclosure. There just are not many foreclosures anymore though. 

@Joshua Ricker I am a mortgage broker in Rocklin CA and I am quoting people at 7% to 7.25% for non owner conventional mortgages as long as they have a 640 plus credit score. I am surprised you got quoted that high of a rate for a conventional loan. 

@Netra Krishnappa do you have any furniture to turn it into a short term rental?   If you did not purchase it , would you just keep living with family with no rent payments?  Call the loan servicer every day to keep pushing them to approve the loan. It should not take longer to close an assumption. They are just moving slow because they are not working on commission. 

The supply of homes for sale in the three county area around Sacramento CA was 2272 properties for sale in July 2023. The supply of homes for sale in June 2023 was 2158 Homes for sale . There were 4457 homes for sale in July 2022 which was the peak homes for sale in any month of 2022. That is why we saw such a rapid decline in property values for the rest of 2022. 

I am selling a duplex at 10061 Nebulay Way Sacramento ca 95827 for 570k obo. There are not any active duplex listings in 95827 right now so if an investor has 1031 funds and needs a property fast, here you go. One side is owner occupied. The other side is rented at 1600 per month. 

@Gordon Cai If you do not own anything locally then you might as well purchase a property locally and take advantage of the low down payment options of a owner occupied buyer. I am close to you so if you ever want to ask questions about buying out of state, I can answer those questions. I have lost and made money out of state investing.  

sorry you were scamed. I am a real mortgage broker in CA and never ask for money upfront. Your first clue should have been their 100 dollar website. I see so many scam lender posts on REI pages in facebook , it sickens me. That is nice that you have warned people here, however, the scam artist will just create a new website and keep scamming people. If a lender asks for money upfront. RUN

@Sabin Timilsina If you own the land ,you should know what the land is zoned. Does the land have water and sewer hooked up?  does it have electric?  Go to Sacramento county building department and ask them what they want, ask how much are permits, etc. 

Dont use KClend.com. They took 8 weeks to close a hard money loan for me last year. it was a 60k purchase price. ARV of 160k. The appraiser only took 2 weeks but for some reason they were slower than the us government.