All Forum Posts by: J. Martin

@Kevin Auyong ,

Welcome! I have not parked down there before because I ride BART typically, but the following website says there is a 24hr parking garage on the same block at 459 8th St: http://oaklandparking.spplus.com/Oakland-459-8th-Street-Parking.html

I haven't been to the bar before either!.. but have been meaning to try it. 4.5 stars on yelp, does have food, and according to a recent posting, "Incredible beer selection and really solid hearty pub food"
http://www.yelp.com/biz/the-trappist-oakland?nb=1

@Ken Lau , @Tim Garcia , @DANIEL SHEPSTONE , welcome to BP also, and to the meetup! Sounds like it will be a full crowd. Looking forward to meeting everyone.

What: East Bay BP Meetup

When: Tuesday, December 10th, 2013 - 6:30PM to 9ish

Where: The Trappist bar, 460 8th St Oakland, 94607 - Food & Beer

Get There: BART to 12th St/Civic Center Oakland & walk down Broadway to decreasing-numbered streets at 8th St.

Parking at 459 8th St, or other garages nearby here:
http://oaklandparking.spplus.com/Oakland-459-8th-Street-Parking.html

I have done and am currently working on a partnership on 2-4 unit properties for buy/rehab and hold, but I am the active investor arranging and operating the partnership and property. My investors are passive and don't fully understand the ins and outs of purchasing and operating residential income properties, but are looking for a good investment. @Jon Holdman is exactly right that your investment needs to meet the same criteria regardless of whether or not you are partnering with someone (although there are other things to consider with a partnership). I would recommend that at least someone in the partnership be very knowledgeable about the investment you are making. That could be a trusted friend, great referral, or someone else that you could trust. But without someone knowledgeable taking point on the project, you could end up with a sour taste in your mouth and SMALLER pockets at the end of the day! Be careful, and good luck @Edgar Aguillon !

Gotcha Onan.

I'm only doing 30yr fixed while I still can, because I LOVE 30yr money at these rates, and would prefer not to have that interest rate risk on the reset at higher rates.. But nice to know there are still some lenders who will let investors stretch their capital on 'commercial'/portfolio loans

@Dev Why

, that's exactly what I did on my first property. Cash flows well. You can use it to purchase, as long as you are going to move in. 3.5% downpayment is relative to the purchase price. So $3,500 per $100,000 of purchase price. You will also need money for loan closing costs. Probably 2-3% more.. Contact a local loan broker or bank officer to see what you can qualify for. It goes up ALOT potentially with multiple units because they count about 75% of other rents, up to 4 units like @Denise Madrid correctly stated.

@Onan Dumas , you are correct about mortgage insurance being for the life of the loan now with FHA. Regarding other 5-10% downpayment products, my mortgage broker told me he doesn't know of anything with 5-10% down owner occupied for 2-4 units. Only SFR. Do you know of any for 2-4 besides FHA?

Thanks @Chris Drury

They've been having all kinds of issues with their old rehabber, and doesn't look like it's stopping any time soon!

I'll let them know you referred them. Thanks again!

Welcome @Phil Thach

Lots of good info on the website and lots of active Bay Area investors. @Ralph E. , @Chris Music , and @Jaren Barnes are all joining us at our East Bay Meetup next Tuesday evening in Oakland I believe. Around 13 folks so far, and you're welcome to join us if you can make it up from San Jose. It's near BART. Click link below if you're interested! And good luck in your investments!

East Bay Meetup Link

Thanks @Amit M. !

What: East Bay BP Meetup

When: Next Tuesday, December 10th, 2013 - 6:30PM to 9ish (or whenever you need to leave - don't be afraid to show up late if you're commuting)

Where: The Trappist bar, 460 8th St Oakland, 94607

Get There: Ride BART to 12th St/Civic Center Oakland & walk down Broadway to decreasing-numbered streets at 8th St. Or search directions for car online.

Link: http://www.biggerpockets.com/forums/86/topics/106912-east-bay-meetup---dec-10-in-oakland?page=2

13 RSVP's so far. Any and all welcome!

What: East Bay BP Meetup

When: Next Tuesday, December 10th, 2013 - 6:30PM to 9ish (or whenever you need to leave - don't be afraid to show up late if you're commuting)

Where: The Trappist bar, 460 8th St Oakland, 94607

Get There: Ride BART to 12th St/Civic Center Oakland & walk down Broadway to decreasing-numbered streets at 8th St. Or search directions for car online.

Hi everyone, just over a week until our meetup in the East Bay and @Amit M. appropriately reminded me that I should repost the info.. I am going to post it below after some brief introductions. So far, we have 13 BP members who have said yes, and a few maybes.. Should be a lively gathering. In an effort to get everyone partially introduced, I took the liberty of copying and pasting the attendees' info from their posting onto one sheet. Here's everyone that's responded on the post so far I believe.. Looking forward to meeting you all, and for some, chatting again. Hopefully this pastes okay..

Engelo,

You can buy litecoin on BTC-e for USD I believe, or deposit bitcoin there from coinbase, bitstamp, or any other site. Be careful! I believe they are based in Bulgaria and not sure what the oversight is over there!

Michaela, I like your idea. You'll have to figure out who wants to buy your piece of real estate in BTC, but does not want to or cannot exchange the BTC for USD. I believe BTC-e charges .2%, plus some wire fees, so its not too bad. As a BTC holder, why not just sell BTC for USD, euros, whatever and buy any property on the market? Maybe there's some aspect of the anonymity, but I'm not sure if or what the responsibilities of the seller would be. I have loans on all my properties, and they require 2 months of bank statements showing where the money came from.. I like that the wheels are turning though, and it would be a great marketing gimmick! But you'd have to change the price almost daily!