All Forum Posts by: Jose Lopez

@Gretchen EM Swanson No Hoa.

@Matt Ference im looking to invest in Chicago as well. SFHomes. I house hacked here in LA. Now branching out of state.

@Kazi R. 2001 Beat up 2001 Honda Civic with one hubcap and 200k miles.

@David Li you can make double the profit but there are many factors. I live in LA which is a hot market. Maybe different for you

@Eric Ruiz. Im definitely interested. Just got this message. Lets keep in touch

@Will Barnard That would be great. I have purchased the home since we last spoke and would like to hear sound advice from an investor like yourself on the next steps in building a junior ADU, local contact poeple(architects, engineers,etc) How do we go about connecting on this platform?

@Will Barnard hello. I see you are in Sant Clarita. I will be closing on a property there next week. I have RV space that I am planning on building an ADU on. Is the building permit process pretty easy? 250k for an adu build seems pricey.

@Jeremy Baker. Did you purchase a leasehold? I looked at maui and it doesnt seem airbnb friendly. I have two rentals in la and attempting to transition to Hawaii. Any help would be greatly appreciate

I am in the middle of a cash out refinance. My current(primary) home in LA is being rented out and has been since the start of the year.

In the application I turned in I still wrote it down as a primary residence even though its a rental property with two tenants. My plan is to get them both rent insurance and Non owner occupied insurance. 

I am planning on cashing out and using the profit to buy a home in the valley with my girlfriend. I would most likely need to be on the mortgage as she probably wont qualify for the loan on her own. - Its a solid relationship where we are planning on a wedding in the near future. 

I'm also planning on purchasing SFH property out of state as a buy, rent and hold.

Question:

Is it ok if i continue with the refinance and leave the home as a primary BUT still be able to claim it as rental property and get tax deductions? 

Should i get an LLC for the rental property and would this be added tax deductions?

How would i go about purchasing a home with my girlfriend in regards to title, name on mortgage. 

What would be the implications of me being on a second mortgage and my ability to qualify for other mortgage loans for buying out of state property? 

@Amalfi Duran make sure you stratgize beforehand and know what angle to use in order to sell them your home.