All Forum Posts by: Takeshi Yashima

I went to Lockheed Credit Union today and they are much better than the Chase. They listen to our needs and they will prepare for the pre-approval letter for us. Thank you very much for referring me to Lockheed Daniel!!

I also have to go with "Rich Dad Poor Dad". This book really opened my eyes and made me rethink about money and job. Because I read this book, I start investing in real estate.

I also wrote e-mail to county auditor office about property tax of condo I am living in (About 3 month ago). I stated how much we paid and how much value different from when previous owner bought the properties with documentations via e-mail. Then, property was re-assessed and reduced by more than 25% from the original assessed value we received. I got all the refund back and I am happy now :)

Hi, I am currently thinking to invest in Riverside County. I would like to network with realtors who knows local market as well as experience working with investor. My focus is to find my first cash flow property in riverside county.

Any help will be appreciated!!

Takeshi

Thank you very much!

They said they can approve the loan for investment property but I have to put at least 25% down and have to pay $295 for application for pre-approval.

Hi,

I went to Chase Bank today and I asked about pre-approval letter for my potential investment property (I will focus on SFR for my first investment). The loan officer told me that property has to be "habitable" (meaning property has to have carpet, functional Kitchen, bathroom, etc) in order for them to approve the loan. The problem is that the properties I am looking at right now are all REOs, which would require certain extent of rehab. Does this mean that I will not be able to get conventional loans for distressed propertieis through banks? Or is it just that Chase is somewhat not investor-friendly? If banks normally don't lend money for distressed properties, what other ways can I get loans? If anyone can let me know, I will really appreciate it. Thanks!

Hi all, thank you very much for such a warm welcome.

I would love to invest in LA area (or LA county) but housing price is just so expensive that I don't think there is good cash flow deal in LA area (The reasons why I want to be a real estate investor is to quit everlasting 7-4 work schedule once and for all!!). The reason for targeting riverside area is:

1. Housing price is much lower than LA area.

2. I found out from city of riverside economic development department that they are trying to revitalize throughout the city (Constructing the park, enhancing the infrastructure etc).

3. There is several big universities, such as La Sierra University, UCR, and Riverside Community College. Especially, I am looking at the property close to the UCR so that I can rent out either students or family.

Because of above reasons, I am targetting the riverside area. But, I am really appreciated if I can get comments about my plan (Especially, nationwidepi, I bet you know Socal real estate market. I would love to get opinion from you).

Again, thank you thank you very much for such a warm welcome.

Takeshi :D

My name is Takeshi and I am from Los Angeles. I am just getting starting in real estate investing. I am currently learn as many real estate knowledge as possible through online class and going to the Real Estate Club meeting.

This site is great site. I already learn new things (Especially, 50% rule. Wow, I glad that I know this before I purchase the property...)

I am interested in buying and holding the SFH property to rent out. I am currently looking at Riverside county area property. Getting 5 income properties in 5 years is my current goal so far.

I am really looking forward to learning more about REI from this site!!!

Takeshi :D