All Forum Posts by: Michael Gustavo

@Mark 

@Mark Pedroza. As far as I know the event on the 24th in Fremont is free, but you can certainly verify that with @Arlen Chou

Thank you, Michael. Do you own properties in Jacksonville? If so, can you recommend good maintenance/repairs vendors that you've worked with, that are honest people and won't rip me off? 

 Thanks. I called them a month ago, they said they were not taking any new properties at that time. 

 Does the lawn get mowed, I'd start there... 

Does the house have a paid serivce? Maybe contact them (if small company) and find out where the bill goes....

@Michael Gustavo What brings you to Raleigh? Are you planning on moving here or just having out of state investments?

Probably the the best option for you might be to find a local small banks or credit unions. Typically you can just get a list from google and call them to see what type of loans / financing they might have for you. Its really easy to do. There are many new loan programs so the best advice you can get is directly from them. I would recommend avoiding any larger institution banks.

If you are planing on purchasing under LLC, then keep in mind, you will have harder time finding a lender for that. Many new investors purchase their first property under their names using conventional loans. But that just something to keep in mind, depending on you specific needs.

The maximum LTV banks typically do for investment properties 75% so keep that in mind when trying to figure out what you can afford. It means a decent amount of cash that most new investors get really surprised about.

As @Andrew Kerr mentioned, you can also look into house hacking using FHA or VA loans if you plan on living here in Raleigh. You will be required to live in the property as your primary residence for at least 1 year and then 2 out of 5 years to avoid paying capital gains.

And as always, make sure you understand the local market well and have realistic expectations!