All Forum Posts by: Glenn Humphreys

@Michael Harris This property has now been listed - you can find more information at MLS: SW17002431

Buyer sought for this off-market opportunity.

The property is located in Beacon Hill, Laguna Niguel and is in a very highly sought after and desirable area - nothing has sold in this particular street for several years. A similar size property sold in the area last year for $1.3M.

It has partial ocean views to the front of the property, and views of Saddleback mountain to the rear.

The house sits on a huge lot (18,060sf) which is double the size of anything else in the immediate area. At present the back yard is in a state of disrepair and consists of salt water pool (in need of repair) and entertaining area. There is the potential to landscape and retain the existing infrastructure, or perhaps apply for consent to extend or build a casita.  The house itself was built in 1984 and is in need of work. The exterior has termite / dry rot damage, the roof probably needs to be replaced, and it needs to be painted.  The interior has marble floors on lower level, plantation shutters throughout, needs a new kitchen.

Contact me for more details.

CalBRE: 01955543

@Jason W.

I might be able to help - PM me.

@Jason K Green

If you want to narrow down reported crime by a particular street, then the Orange County Sheriff's Department website might be a good source OCSD.

@John Todd Welcome to BP.  I potentially have a flip opportunity coming to market in Laguna Niguel that may be of interest to you.  PM me for more details.

Hello @Gaurav Bahal,

I just sent you a PM - I know someone who can help.

Glenn

@David Rutledge  Welcome to BP.  I see you are from Australia - I'm a Kiwi!  Please feel free to reach out at any time.  Happy investing!

@Jeffrey Vargas

PM me and I can provide you with contact details of a lender that should be able to answer your questions.

@Jeff Parkan

I believe the limit in Orange County is $625,500 and that you have to use approved contractors. According the HUD website the loan can be used in the following ways:

Eligible Activities:
The extent of the rehabilitation covered by Section 203(k) insurance may range from relatively minor (though exceeding $5000 in cost) to virtual reconstruction: a home that has been demolished or will be razed as part of rehabilitation is eligible, for example, provided that the existing foundation system remains in place. Section 203(k) insured loans can finance the rehabilitation of the residential portion of a property that also has non-residential uses; they can also cover the conversion of a property of any size to a one- to four- unit structure. The types of improvements that borrowers may make using Section 203(k) financing include:

• structural alterations and reconstruction
• modernization and improvements to the home's function
• elimination of health and safety hazards
• changes that improve appearance and eliminate obsolescence
• reconditioning or replacing plumbing; installing a well and/or septic system
• adding or replacing roofing, gutters, and downspouts
• adding or replacing floors and/or floor treatments
• major landscape work and site improvements
• enhancing accessibility for a disabled person
• making energy conservation improvements

HUD requires that properties financed under this program meet certain basic energy efficiency and structural standards.

For more information visit: HUD Portal

Hope this helps!

@Emily Shirk

In respect to a price bubble, I believe there is good reason to be cautious about the existing market. On the surface it appears that the simple laws of supply and demand are in play - a growing work force is chasing relatively few properties which is forcing home prices up - nothing unusual there. However, when you look more closely at the underlying problem of affordability in California, you have to wonder why homebuilders are not rushing to make a buck and fill the huge demand for affordable living - they obviously see a rocky economy ahead and have no desire to be caught out like they were when the credit bubble burst. Globally, China is experiencing its own credit problems in the housing industry and it also has excess inventory. If the Chinese housing market were to show any signs of going into free fall, you can guarantee there will be a large ripple effect in the U.S. housing market - just as we have seen in the stock market in last few months with concerns over the Chinese economy. As investors, buying opportunities might be closer than we think...

Best of luck and please reach out if you have any questions.

Glenn