All Forum Posts by: Jayson Cain

Your best bet would be to contact a local bank where the mobile home park is as they're more likely to lend compared to a nationwide bank not familiar with the area. 

Solid deal @Todor Ialamov! Great to hear you utilized your RE connections for your own portfolio. 

Love how the bedroom turned out and kudos for you guys for putting in sweat equity! Really unfortunate about the permitting situation. Curious if you're also thinking of other exits (selling, cash out refin, etc)? I have some friends that are in the limbo with the permitting process. 

As investors, we are are currently looking at emerging markets based on recent migrations. 

@Tommy C. It depends mainly on the lender. If the property is vacant, lenders can look at the market rate and use that to calculate the DSCR when underwriting the loan. As for data providers, I know some lenders use services like RentRange or Rentometer for initial underwriting, and then the appraiser's market value during the actual underwriting. If you have a specific scenario, I'd be happy to help you run through the numbers with you.

Find someone local that is familiar with the market as compared to a big management company. You can also self manage even if you're doing remote. 

I bought a condo in Long Beach, CA back in 2016. Although it appreciated in value, I would not purchase another one due to lack of control to your property. If you have a choice of buying a condo and SFR, I would recommend going with the SFR

To get deals in a hot market like Los Angeles, you might need to do your own marketing direct to sellers, or purchase from wholesalers. 

Hi @Khaleel Jenkins,

I recently worked with a contractor for foundation. I might be help you out depending on the project. 

Hi @Atchut Neelam, 

It depends on the lender. Usually in my experience, they require members with 25%+ ownership to sign documents.