All Forum Posts by: Jeet Sangha

@Felix Shi This is a very specific circumstance. I doubt anyone will have an answer for it here. How did you arrive at the $40k number? Your best bet would be to go back to the building department and ask them for clarification.

@Dan Fritschen What an unfortunate situation. How much equity is there in this property, or is it paid off? I have investors who may purchase with short-term seller finance and offer a sizable down payment to cover your bills. 

Please send me a message or call me, and I'd be happy to discuss this in more detail. 

Hello Senen,

It seems like you are in the San Jose area. I'm a Realtor based out of Gilroy and I cover the entire Silicon Valley region. With over 8 years of experience in Residential, Commercial and Land acquisition, I can help you with any of your real estate needs. I also have my own real estate investment portfolio.

I would love to have a chat with you to see if we are a good fit for each other. Please feel free to contact me at your convenience.

@Karthik Jayaraman Based on your math, it looks like you're losing $915 each month, which can be a significant amount for many. How much has the property appreciated since you bought it? What do you plan to do with the proceeds from the sale if you were to sell? 

I understand that in the long run, the property may appreciate more, but are you comfortable paying $915 out of pocket each month? As much as I would like for you to keep this property, it doesn't pencil out as a good rental property. Moreover, if the HOA goes up again next year, your loss is only going to get bigger.

If you can sell your home for more than what you paid for it and you're not taking a loss, I'd consider selling it if I were in your shoes. Do you know if you have conventional or FHA financing? If it is FHA, you can potentially sell your property for more. I'd be happy to walk you through it if you're curious.

Quote from @Omid Bakhtar:

I want to buy and hold a real estate portfolio within a 2hr radius of Gilroy, CA, over the next several years. I have come to be educated thourgh a real estate course and thankfully found Bigger pockets and going through their material. Thank you for all that you do!

At this point, I can likely qualify for properties in the 400-500k price range through conventional financing. My immediate goals are to acquire a duplex, possibly in the West Sacramento area. I am eager to connect with investor agents and anyone gracious enough to share their knowledge. Thank you for your support!

Hello Omid,

Consider exploring the Hollister real estate market; it occasionally offers properties in your price range, with a robust rental market. Feel free to call or text if you'd like to discuss this further. In Gilroy, there were two fixer-upper duplexes that sold for $750k, providing some perspective.

Hello everyone, I organize a monthly real estate investment (REI) gathering in Gilroy, CA. Although this meetup is still in its early stages, I hope to see it thrive and become a thriving hub for real estate investors to come together and offer mutual support. I've been the host for more than a year now, and we've garnered 62 members on meetup.com. Due to time constraints, I've made the decision to step back and haven't been able to dedicate the necessary time for it to reach its full potential. If you're passionate about real estate and enjoy connecting with like-minded individuals, this opportunity may be perfect for you. If you'd like to learn more, please don't hesitate to send me a direct message.

Here's your opportunity to own a fixer upper in San Jose.

This particular house is 4 bed 2 bath 1350 sq ft. Recent comps in the area suggest the ARV to be ~$1.25M. Please feel free to send me a message if you're interested in learning more about this property. I am not sure if I can share the address or the price here.

Keith,

It's my suggestion that rather than seeking answers in a book, you might benefit from a one-on-one consultation with a real estate advisor. They can thoroughly analyze your financial situation and provide their expertise to help you develop a solid five-year plan.

As an investor who collaborates with many others, including some from BiggerPockets, I'm always open for a chat if you wish to discuss this further. Just drop me a direct message anytime.

If they're only going off of AVM then it may make sense to order a full appraisal. If you'd like, you can send me a private message with your property address and I can run the comparative market analysis (CMA) for you.

Good deals do appear on the MLS but they do not last for more than 2 to 3 days. You have to be able to run the preliminary numbers quickly to see if the deals works for you and be financially ready to pull the trigger.

There are often deals on the MLS that are listed as 'members only' in our area. This means that only the realtors can view the these listings and not the general public. That's why I'd suggest you work with a realtor who can send these type of listings your way.