All Forum Posts by: Justin R.

Thanks for the replies everyone. I am going to be working in Irvine. I have explored the area and am somewhat familiar with the areas I like. I know Newport is expensive, which is why I was confused to see such a low priced property in that area and knew there had to be a catch, just doesn't didn't know that catch was. Thanks for the great tips on how to avoid land lease deals!

Gabe,

I knew there had to be some catch! Your answer is exactly what I was looking for, even if it isn't the best of news.

Thanks!

Hello everyone,

I am moving to California in 2016 for a job opportunity and am curious about the real estate market there as it relates to mobile homes. Typically I have read to avoid these types of properties as they do not appreciate in value, but in the area I am looking at (Newport Beach, Orange County) , manufactured homes seem to be more "higher class", expensive, and right near the beach. Considering they seem to be the only type of home in my price range, just curious if this is a smart investment instead of renting? Like I said, normally I would avoid a manufactured home, but wondering if things are different in CA , specifically if the house is near the beach. My alternative is renting until $1M+ single family homes become feasible. 

Here are some examples of what I am considering and referring to:

http://www.realtor.com/realestateandhomes-detail/2...

http://www.realtor.com/realestateandhomes-detail/7...

http://www.realtor.com/realestateandhomes-detail/2...

The homes look very nice on the inside and out.

Any input greatly appreciated.

Thanks

Hello all, 

I am interested in potentially purchasing an out of state property that would be too far to manage myself. I obviously understand a professional property manager would be best, but are there any good real estate books that either focus on out of state investing (ideally out of state vacation rentals ), or at least have a good chapter or two on the subject ? Any input greatly appreciated! 

Hello,

I am looking to network and become an apprentice of any investors in the Albany. NY area. I have read all the books, listened to all the podcasts and would like to start working with someone more experienced helping manage, run daily tasks, etc. If there are others in the area who are experienced and looking for an assistant or someone to mentor, I'd love to be in contact!

@Jeremy Baker I'd be interested in seeing those numbers if you do not mind.

Welcome Brad. I hope to be in Orlando by the end of the summer, so perhaps we will see each other at an Orlando meet up!

Great Post. Why did you leave Florida? What would you recommend for someone looking to build their network to generate leads if they are new to the area? Thanks for your informative post.

Do you have any credit built up? SEFCU will let you apply online for free so no risk there really. I wouldn't recommend buying anything until you have some cash savings built up for a 20% down payment, plus a significant cash buffer for any unexpected(or expected) repairs.

I'm familiar more with the Pine Hills area and college rentals, but it will be much more difficult to find a deal in that price range in this area(although possible). If you have any other questions about Albany let me know and I will try to assist.

Hi Louis.

I am also in Albany, NY. Where are you looking at Duplexes in that price range? Is it Arbor Hill neighborhood?

Your strategy is a smart one, and as a duplex that you live in you can get owner occupied financing, which will get you a more favorable rate. You can do the traditional bank financing as long as you have decent credit or sufficient w2 earnings. Whats your situation like ? Keep in mind owning the rental property will mean a lot more expenses that you will need cash reserves for, even if you are making out ahead after collecting rents. Renting in arbor hill may lead to a lower quality tenant as well, although it sounds like you may be more familiar with the area than I am.