All Forum Posts by: Karl Kyler

You're in the right place, Cole?  Get ready to go t the next level my friend.  You will find almost everything you need somewhere on this site.

Karl

Congrats Ziad on passing your exam!  I did my undergrad and post grad work at SDSU.  I am sure you will enjoy the school.  I think everyone wants to start partime in real estate but once you realize how much money you can make in the business, you will reconsider. 

I am also a real estate agent here.  If you need help don't hesitate to reach out.  Best of luck!

Karl

Hi everyone,

I have been eyeing a property in a particular area that has looked like it has been neglected.  I have tried to reach out to the owner but had no response and when I went to knock the door, no one would ever answer.  I recently found out that the owner died back in March.  I am unable to located anyone who may have taken over ownership of the property.  I checked w the county and nothing has been filed w a probate attorney.

Can anyone help me figure out how to contact the new owner?  I'd like to make an offer on this property.

Any help is greatly appreciated.

Karl

Matt,

I shop lenders all the time for my clients. When you align yourself with a great lender or agent with a great lender it will make a world of difference. I have a lender now that is doing 5% down with no PMI and with very little DTI restrictions.

Next time refer to an agent like myself.  It is my job to provide my clients the best service across the board.  Just make sure you don't have a bunch of lenders pull your credit.  Though there is some fexibility, you don't want to chance it hurting your credit.

karl

Michael,

Congrats!  I know Spring Valley very well.  It is one of the few areas that you can buy a house in a reasonable neighborhood and spend way less than the rest of SD.

Karl

DB,

Interestingly, a lot of people don't think SD is a good place to be flipping homes in.  Though flipping deals are not as abundant as they were a couple of years ago, there is still plenty of opportunity to flip here in SD.  The difference between now and a couple of years ago is that the deals are just harder to find.

When you get our here and need help with any real estate, feel free to contact me.

Karl

Nat Chan,

As an agent I know personally this does happen unfortunately.  In California, it isn't actually illegal to tell what other offers are on the table, though most agents believe otherwise.  I understand how you may want to back out because you feel manipulated.  I would suggest, before backing out, consider how much the deal could make you.  If your profit margins are not high enough after coming up in price, then back out and move on to the next deal.  

Sometimes we have to pay $7k more to make $30k, for example.  But in the end if you pay more, you're still up $30k rather than backing out and making absolutely nothing.  Put the ego aside and focus more on your profit margins rather than how much you had to come up in price because the agent pulled a fast one on your.  The fact of the matter is that in the end you are still likely to make more money than the agent does off the deal.  Best of luck.  

Karl

Cho,

As a professional realtor here in SD for 11 years now, it is great to hear someone asking such great questions before investing! My advice, each situation is different and the first step is to lock down your financing. Then from there we can see what kind of options we have. If we are looking at an attached SFR, FHA and VA financing will be more difficult to get in on. A detached SFR would more likely work.

I know the idea of roommates is never ideal, but it may be worth while.  I had a multi unit with two properties in the front that I rented and I lived in a detached house in the back where I rented the rooms to foreign exchange grad students at SDSU.  I rented out the two largest rooms to get the most income as well.  This kept my monthly negative as low as possible.  I liked having foreign exchange students as well.  They were more respectful of my property and they were only there for 6 months so if I got tired of them, I wouldn't have to deal with them for long.

Let me know if there is anything else I can be of help with.

Karl

I am on Tammy's side as well.  I would suggest getting started.  Why wait another two years to start developing your future?  

With the way the market is going as well, you may be in a better position in two years to leverage the equity as well.   Then you can do a cash out refi to purchase or a 1031 exchange which I think Tammy might have been referring to.  1031 exchanges are a way to avoid paying capital gains up front a sale.  

It is essential though to be mindful of not just investing for capital but for monthly cashflow.  The tax benefits on monthly cashflow are favorable over capital gain with a sale of properties.

I am sure this is all as clear as dirt....haha.  If you have more questions or want me to clarify, don't hesitate to ask.  Best of luck!

Karl