All Forum Posts by: Eric F.

Thanks for your advice.  Now I need to find someone with will give me a 30 year term with only 15% down

This is for an income property, I'm not going to be living there.

I have a deal I want some advice on please. 

$215,000 purchase price for a duplex

$1300 monthly rent

What I want in a perfect world - 

Put only 15% down

10 year loan

Keep the interest at or under 10%

Do these types of loans exist?  Where do I go?

Thanks!

APN: 0420-142-66

Residential-Vacant Land - You can subdivide it into two parcels and wait until the California market turns and make serious $$$$$ if you want to develop, or just buy and hold.

Annual taxes are only $20 and paid current. Title is clear.
If you have a realtor and title/escrow agent you prefer I can work with them, have them contact me to make this easy.
I am NOT a realtor, this is my personal property I am selling because I need cash for unexpected expenses.
Message to talk with me if you have questions.

Be wary that Vegas has the LARGEST swings of any US market by far.  Know where we are in the cycle before you buy, and be prepared for the bottom to hit lower and harder than any other market including California.  I would wait a few years... http://dsnet.co.clark.nv.us/dsreports/bldgpermits.asp

Yes, but, you're never going to get it to an exact science.  Even the REITs and institutional use a bit of intuition.  Zillow within a 'neighborhood' for comps and rentometer.com for rents

Sloth is rampant out here in California municipalities and the sale value has a huge factor in what it's assessed at.  Assessors see a sale price of $300k, they say oh, lets make it $311,328 so it looks like I'm doing my job.  Also, if you buy at a tax sale, it's reassessed at the exact sale value.  Again, counties are different, but typically county/township workers hardest and most thoughtful part of the day is taking 45 minutes at 11:00 to decide where to go for lunch before they hit the water cooler for the 15 minutes before it.

Accurate is subjective and each person will have a different answer.  My answer would be zillow, what are people willing to pay.  That takes into account the location, and where you are in the market cycle.

rentometer.com

Start in your backyard driving for dollars!  My first deal was land in the desert and it did pretty pretty good.  Welcome!