All Forum Posts by: Brett Goldsmith

Do you have any money for a down payment? You may want to search for off market deals and try to partner with an investor if you don't have money. Get a portion of the profits + learn. 

If it's a good deal and you have reserves then it can be a good move. There are different types of HM. Some for fix and flips and others for rentals that are longer terms loan. If it cash flows, has equity, and/or you have enough reserves, you should be in decent standing. The goal would be to refinance out of the loan though to something better when you qualify.

Just be careful and make sure the numbers and your financial wherewithal check out to handle whatever deal you get into.

My pleasure, reach out if you ever have questions. 

I'd take your time and focus on buying right for your first property. You make most of your money when you buy or through longer term appreciation. Buying right is the mot important thing as it gives one a lot of breathing room with their investment.

The cool thing about investing in LA county or many parts of the IE, is that most properties "at the right price" are probably worth buying.

Out of state cash flows more than CA typically, but that comes with another host of potential challenges. I personally own property out of state and in CA.

I think it's important to buy based on your short and long term goals, whether it be increasing ones networth or increasing cash flow. Different properties and locations will be stronger in some aspects towards certain goals than others.

Being a landlord isn't always easy and can be more expensive than people realize. Make sure that when you buy you have reserves to whether a storm if things go sideways. There are easier ways to cash flow than real estate imo. There are relatively safe ETF's that give 1% dividends a month.

I'd probably focus on saving more money, paying off my debt, learning more about RE, while searching for a property that works to take the leap on.

subject to's are preferable when the property has equity. It just needs to be done properly as additional liabilities are taken on when a subject to takes place due to keeping the borrowers loan in place. 

Yes, you transfer title, cash out homeowner for a portion of their equity through the sale, and reinstate the loan in your example. This should be done through escrow and get title insurance.

Many homeowners in foreclosure don't want to sell, they want to keep.

Are you planning to live in one of the units and rent out the others? Vacancies fill up relatively quickly, but you need to find a good tenant. LA is rent control so many properties are being rented out below market rent. IMO it's smart to buy an investment property before a pure "primary" if your goal is to own a lot of real estate and be a professional landlord.

@Fahadbin Alam Just find a good deal. I like MF better for cash flow, but if you find a great SFR in a good area, that can work too. Also the down payment is all relative. Sometimes you need a larger down payment to get financing or put the property in a safer position LTV and to cash flow more. IF you can cash flow well and put less down than that may be a good move. Buy a property you can afford if things go wrong and also keep money for reserves. Properties are more expensive in reality than they often seem on paper.

Are you aiming for more cash flow or a combination of cash flow + appreciation? Some states / cities don't appreciate much but offer more cash flow. Others less cash flow and potential more appreciation. I'd suggest finding a happy median and invest in strong locations. 

You could buy an investment property while living in the barracks... That seems to be the most frugal option while also investing. 

Typically I ask if they will consider an appraisal before I pay for one. If so, I may do an appraisal, inspection, comps, bids, etc to do a proper value dispute. It may fail still though. Otherwise the other option is to wait until the current value expires and they order another one. Best of luck!