All Forum Posts by: Lenin Belangonda

@Chris T.-That answers my question. Thank you!

@Brian Pulaski-Agreed.Thats what my worry is. It should have been valued higher now, because the comparables are all sold higher. The per sqft value is significantly lower and what i see is adjustment made for condition, functional utility which is about 9 to 10%. The inspection hardly sited any issue with the property (Its only 10yr old construction). Looks like appraisals are influenced by the sale price of subject property. Even if the market price is higher its only valued closed to sale price. So my question is if there is another appraisal in a month can that be any different or the appraiser will take the previous appraisal into consideration and would stay closer to that value?

Hi

I bought a REO property using conventional financing. The appriasal came over the sale price but its still lower than the market value. This is not an issue for current purchase. But if Iam selling it, say within 2 months, would the new appraisal be similar to the one done 30-45days ago?

There are some improvments iam planning on doing but the condition of the property is not bad now so the improvements are mostly cosmetic. So not sure if the appraisal can be much different from what it is now. Any thoughts?

Hi

I recently acquired my CA real estate sales person license. I have question regarding realist tax. Here i find mortgage history for a property but how do i find out if the mortage is paid off. There is no record of re conveyance for any of the properties that i looked. So if i am looking for active liens, Iam not sure how to find that out from Realist.

Thanks in advance for any help.

Hi

I recently got my real estate sales person license.  I am looking for a brokerage to start as a part time real estate agent.  

Here is what my expectations are with the brokerage

- Good broker support (not high cost mentorship)

- No monthly or startup fees

- Free websites with IDX/ CRM 

- Reasonable broker fees (preferably a flat fee)

- marketing/leads not necessary

Some of the above might look unreasonable expectation particularly for a new agent.  But I am not expecting any marketing/leads and looking to do this part time in friends/family circle.  I want to keep cost to as low as possible.   I found several online brokerages that seem to meet the above.  But looks like what they say is not really what they do.  So I am wondering if any one know good online brokerages out there that might work for new agents.

Thanks

Jeff, pls add me to your list

Very informative.  Thank you all :)

Hi, I am looking to buy small multi family.  Since this is my first venture i tried to gather as much information as possible before getting into it. From all i read, the financial ratios specifically cash on cash needs to be in 10-12% range.  This makes sense but finding such property seems to be very very hard ( im trying in phoenix and Las Vegas).  well this is not supposed to be easy, I understand that.  But if its so hard to find a good cash flowing property what would be the motivation of any one holding such property to get rid of it?    Whats making me more curious is many of the properties listed, when i check the price history is not selling for much more than what it was worth 10 yrs ago.  So why sell something thats producing income for less than what you bought?

@Dick Rosen your email id is removed from the post,  can you pls provide your contact info.  I like to get more details

@Bob E. yes pls provide me with experienced realtor, thanks

hi

I own a single family rental property in southern ca.  I have been doing it just over a year and that gave me little confidence to explore investing more.  I am thinking of buying 2-4 units in phoenix, az.   I have a friend living there who can help me with occasional visit if I need to check out anything.  But I have to hire a good property management.  This is where I am being cautioned by everyone I have been discussing this idea.  It seems impossible for a newbie to find a good property management. 

My plan is to take cash out of my house and put it as down for this investment.  I started working with some agent for refi and i might be able to get pre qualification.  The math seem to work ok but big variable seem to be property management. 

So far the advice I have been getting are all pretty discouraging.  So wanted to check with some experts here.