All Forum Posts by: J. Martin

The caveat implicit in my advice above, is that you need to have something to do with the money to invest to earn a good yield that you are comfortable with the risk of..

@Ron Boling All depends on your risk tolerance and your cash flow.. Some people sleep well at night knowing they at least have their primary residence paid off. I have a 3.25% 30yr fixed on my current primary residence (4plex), and I can't imagine pre-paying a penny for the remainder of my life.. (and that was with FHA @ 96.5% LTV). I know I can make more than that. And the interest is tax deductible. So finding an after-tax return that yields about 1.7% risk free? Or much more by taking on risk..? Absolutely. I will take that all day long. I am young also though, and have a long time to make up any shortfalls..

You can probably get cash out right now for under 5% on 30yr fixed, or lower for HELOC or home equity loan that they can term out over 20yrs or so. I would do it while your income is high and rates are low, if you want to do it. I don't like variable rates when long-term rates are so cheap. Good inflation hedge too..

@Paul Granneman I landlord in a lower-income area, so I''m a little more flexible about unusual situations. But one thing I do to mitigate less solid applicants is take higher deposits (eg 2 months deposit), and sometimes a co-signer (know anyone in the US who would co-sign for you in first year or two?). These aren't absolutely necessary, but will help ease any landlord concerns.

Don't worry as much about your prior employer verifying your employment. As a landlord, I'd rather see your tax returns that show you've had steady income/employment over multiple years.. Then verify your current employment and income (hopefully you're still making consistent money, preferably in same field..). Where were you living? Executive housing? Can they call and verify you paid your rent on time? (Lots of people have Skype..)

Include good references and whatever documentation/support you can show for your story so they can verify what your story is, and I'm sure you can find someone who will overlook not having been in the US to do a background check. Good luck!

I had considered the same about a long-abandoned property across the street from me. But it's so beat up, we're talking about lot value.. So haven't pursued it yet.. Is there any benefit for other properties in your area, just getting someone into it? Might make it worth a little extra of your time.. But I wouldn't kill myself on it!

I guess I'm unclear if they are doing something technically wrong, or if they are parking on a legal curb, but your paved walkway happens to be coming off of the curb (but no driveway.) You can't enforce with the city or with a tow truck driver most likely if they are not parking illegally. If it's not illegal, and you're not handicapped, you can talk to the city about putting a driveway or depressed (no curb) area there so you can walk up the walkway to your house. Then only you would have the right to park in front of it.

Otherwise, the only other way I see is to ask nicely. Or move your walkway.. :(

I do not wholesale, but a lot of people find it a good way to make some cash when they don't have any to invest, and learn the ropes a bit..

You can also get creative on your borrowing or lookk at FHA and start a little buy and hold.. good luck!

Generally, as long as there are no health or safety hazards, no repairs will be needed before the close of escrow. You may get a lower price on an "as-is" appraisal. But you shouldn't have any issues getting the loan as long as the LTV clears.

They will still finish the appraisal either way. It depends what the bank will accept.. If there's a health and safety hazard, they may want someone to address it before close of escrow.. If it's cheap, you may even want to provide the estimate from a contractor to the appraiser, then show the Bank you have plent of money to get it to liveable condition to get rents going .. (if they are using that to qualify).. Depends on your loan type too..

@Erin A. , the 14th is good with me. Having been to 2 meetups already, I still have barely talked to most people because of how many have been there. Looks like around 18-20 for the Oakland meetup. Really interested in hearing about Stockton! Have you closed yet? Been looking at some RE deals in the area, and definitely a different world out there compared to the Bay! Be sure to tag anyone else you know in the Stockton area. And PM me if you're not able to post on this forum.. They changed the meetup posts to marketplace, so might have problems if you haven't paid up yet.. PM me, and I can post it, if so.. I think you have my number too.. They serve free drinks and snacks at the Residence Inn till 7:30 if you want to keep it cheap, or we can meet up wherever in Stockton that's good (you probably know better than me!)

@Melvin Yuen , let me know if you can make it out. If not, keep an eye out for Erin at the Oakland meetup on the 16th.. Will look forward to talking to you more about Vallejo too!

@Melvin Yuen , @Sam Magi , @Andrew N. , @Chris Music , @Jessica Yau , @Joey Budka , @Alan Malicse , @Pete Tam , and @Denise Madrid , would you all like to introduce yourselves with some info on what you're doing before the meetup..? Mine is above..

A little about myself:

In State / Out of State?

Strategy?

Type of properties?

Looking for?

Can offer / knowledgeable about?

@Kevin Auyong , @Ken Lau , @Daniel S. ,

Do you want to introduce yourself and copy and paste these answers in the forum so everyone knows who's who..?

PS. to actually introduce myself too.. I'm almost 30, love traveling, work in bank regulation in my 9-5 job (been a wild ride the last 5 years!), am still looking for more properties, and loving living in the Bay Area! I can also offer the services of an awesome, trustworthy handyman in the Bay (well, he can offer you his services) - if someone needs good work done, when he's not busy on another job..

A little 'bout myself:

In State / Out of State?

Strategy?

Type of properties?

Looking for?

Can offer / knowledgeable about?