All Forum Posts by: Ilan M Aliphas

@Joanne Eriaku thanks for the reply. That is great to know. the auction states the following: “100% of funds due at time of sale in Cashier's checks made payable to the bidder as a natural person (Not as a Legal Entity)”

You would understand from that that the time of sale might be at a later date then?

A property with the PERFECT location for a short-term vacation rental is coming to auction. I've done all the research and due diligence - I want to go for the deal. It's a live auction happening next month. I'm looking for any and all advice I can get to BRRRR with short term Airbnb type rentals.

I also have one specific question:

-Property must be paid cash. I have enough for about 60% of the MAX amount that I’d be willing to bid for. So need to show up at the auction with enough certified checks for whatever I am willing to bid. Right?

If I don’t have the liquidity now. Any ideas on how to finance the rest?

For example, I could issue a second mortgage or HELOC on another property. Could I then issue certified checks from that?

Hi there,

Looking for some clever RE finance advice. I want to get into RE investing by starting to rent out my current townhome after upgrading into a SFR in a better school district. I'm in the Bay area so prices are extreme. So here are the details:

My current townhome could rent out for about $3700 and the monthly mortgage is $2700.  Plus it is in an great location and I bet appreciation will be higher here than most other area in the bay area – e.g. Trader Joe's is opening its first store in this neighborhood just a few blocks away.  All this to say... I would rather not sell. 

But I'd like to get my kids into a better school and to have a backyard. Therefore, we want to upgrade our townhome into a SFR. My current townhome is valued at 1.2M (I own about 50% of that equity) and SFRs in the neighborhood I want to target go for 1.85M to 2.0M. To do this without selling my townhome would mean a jumbo loan of 1.6M in addition to my current mortgage. My debt-to-income, as you can imagine, won't allow for it because well since I don't have rental income yet then it's a risk mainstream banks won't take.

Any ideas on how to accomplish this?