All Forum Posts by: Laquel W.

Thanks for the recommendations everyone!

Thanks @Manolo D.

Thanks for the insights @Chris Mason. I'm definitely handling all the paperwork and stuff for her. Right now the vacant unit needs significant work to be rented out/livable so I cant put someone in it now. I'll be helping her out with the payback but due to buying another home I dont want to be an official backer on her loan.

I'll check with a few different lenders to see what's possible and what rates they're offering! We're not in dire straights by any means but if we decide to keep the building i need to be able to take money out of it to do the repairs and I want to do it in the most optimal way as far as risk is concerned.

~Laquel

My mother is retired and has ok credit (~700). I'm curious to hear from lenders on how hard it is for a retiree with ~$3K monthly income to get a HELOC? The property is a duplex and has approx value of $800K+, one unit is her primary residence, the other is vacant. We'd use the funds to fix up the building as well as take out money for a down payment on another SFH. In the long run we'd rent both units. I'm guessing that we'd be using about 25% -30% of the value of the home for the HELOC.

I'm hoping that she'd be able to qualify on her own since I'm looking to buy a home and qualify for a home loan myself within the next 6 months. 

~Laquel

Hi all!

I'm looking for recommendations for good property management companies in Northern California (specifically in the east bay/oakland area). I need a company who can manage a condo rental. Looking for one that can find and screen tenants and actively manage questions, issues, maintenance etc.

Thanks!

Laquel

Thanks @Arlen Chou and @Carson Wilcox! Really appreciate your thoughts and feedback on this! 

Thanks Xin Jin! Really appreciate the advice!

 Thanks Matt!

Hi there,

Soon I'll be downsizing my elderly mother and having her move in with me and want to sell her home. It's an older duplex in northern california that my grandfather owned and made various modifications to way back when. 

My question is regarding whether it is possible, and advisable, to sell a house 'as-is' these days? My mother has health issues and I dont have the time to work on fixing up the house in the various ways it needs in order to be a home someone can move right into after she moves out (the upper unit has been vacant for years but needs a new kitchen, floors redone, etc). Luckily it's not in foreclosure nor does it have any other kinds of financial issues. It's also a pretty large duplex with a very large yard in a prime bay area city.

I'm guessing this kind of home would be best for investors but I'm not sure how I would target investors for the property. Are their agents that work directly with selling to investors?

Thanks for your advice/thoughts!

~Laquel

Thanks @Max McNally, @Chris Mason and @Hector Peralta for the welcome!! I'm looking forward to connecting with more Bay Area investors and learning the ins and outs of investing here in the bay. Looking forward to chatting with you all!

~Laquel

Thanks so much for the tips @Kelli D.! I really appreciate it!