All Forum Posts by: Kathy Argento

I have also been eyeing homes (online) in the IE because you can still get them for a low price.   Also, some areas of Riverside County are interesting as well.  I'm actually attending the next auction.com auction in Corona next Wednesday morning for the first time.....not to buy (yet) but to learn, and ask questions.....

Also, this group is awesome, and it's not just for women.  http://www.womensinvestclub.com/Pages/default.aspx

Let me know if any of you would like to meet up and discuss how we can do a deal together. 

Hello All.

I was at a realtor meeting this week (I'm in the business as a loan officer, but also an investor), and a realtor pitched this off market property.  I am putting this out there to help this realtor out. Here are the details and property address:

Address:  2684 Nido Way, Laguna Beach, 92651

Ocean view

3 bdrm / 2 ba   2,718 Sq. Ft.

Asking Price:  $1,900,000      Estimated Repairs:  $60,000

ARV: $2,800,000 to $3,200,000

Nice "man cave" on bottom level (of over 460 sq. ft.)

Permits are almost at the approval stage to add additional sq. ft.

Feel free to message me here or call me  on my cell at (949) 836-0650 and I will put you in touch my realtor friend.

Thanks!
~Kathy Argento

 Hi Stephanie.  I can tell you that yes, they absolutely do exist.  Go on www.zillow.com for example and opt in search parameters of prices up to $30,000.  You will find many.  Now what condition/neighborhood they are in....you would have to be familiar with Detroit to know if the area is bad or if it's "up and coming", because many areas in Detroit are making a huge comeback and some people think the appreciation will stay good.....for at least a couple of more years.

Interesting.....Our FHA loans on the other hand, are fairly easy to qualify for, actually easier than conventional loans here.

Darren is correct. It is a loan insured by a U.S. Government agency called the Federal Housing Administration. 

You're welcome Devon. Wish I did NY loans. I could have helped you out.  

I just listened to Jack Bosch's 1 hour webinar. It reminds me of a fast talking sales pitch with a " limited time" offer and "will sell out soon" as a take away. Ugh. What a turn off.  

hi Devon. As a banker, I know that it is risky to say that you're living in a home and not actually living there. That is actually fraud. Most lenders require an affidavit of residency and some FHA lenders will even have a live person check the residence after you buy it to make sure you were living there. If caught, you could get in a lot of trouble and or the mortgage would be 100% due and payable on the spot. You don't want to mess with that. Not all lenders require 25% down for investment properties. Shop around. You will find lenders out there that will only require 20% down, and maybe less.

Appreciate your input Michael. :-)

Got it.  Thanks Michael.  Do you think that by disclosing the fact that she's a realtor, it would turn off folks to NOT open the letters?

Also question regarding stamps:  What type of stamps are most opened?  Any opinions?  What about a stamping machine?  Fewer openings?  Bulk mail is out because of the various zip codes we are sending to.

Thanks Again all.....

We are both interested in wholesaling together, not listing anything.  Our intent is juts to invest together, but she just happens top be a realtor-friend.  We are splitting the costs and the labor (we're both addressing the envelopes and sending out the letters we obtained from her title rep).  More input on this topic anyone?  I'd truly appreciate it!

~Kathy