All Forum Posts by: Mailei Maloa

I pay 10% monthly and first months rent on new lease, 10% on re-leasing fee. I think once you get over 10 units managed by them you have more power to negotiate. 

This is a good learning situation for me. (Note to self Make sure I have a criteria down) Criteria is one thing and your personal feelings and impressions are another. If @MarieChele Porter had criteria and just stuck to it she could still have poor or bad tenants. If she goes with her gut could have a great tenant or another loser. 

Just thinking outside the box could there be something that gets put into the lease agreement about police being called to the residence, a failed parole or parole/ probation violation? Anything in there about aggression to the neigbors? Maybe adding something into the lease agreement to aleviate some of the what ifs? Just a question with possibly some additional ideas. 

I live in San Francisco and I have rented in some of the harder neighborhoods Hunters point/ Bayview and the Inner Mission. There are some that have been rehabilitated and others that are career criminals. Time will tell but do you take the chance?

Good luck with your decision.

This is a question I haven't been able to find an answer to. Some people I have heard say take a loan out at a credit union but it is probably like the one you have currently. Possibly a 7 to 10 year loan at an above 10% APR.

I will be watching this post for some answers. I hope we could get some good leads from here. 

You could talk to the home inspector about the neighbor hood or the appraiser. Type in a google search of the city and neighborhood. Look for all of the basics through this website Neighborhoodscout.com - check rentometer rates, look on zillow or redfin about sold properties similar to the one you are looking at within the same neighborhood. Go to the cities website and see what their plans are for economic growth and their budget for last year to see what has been upgraded or is scheduled for upgrades. Become a hermit for the next week and search as much as you can. LOL. 

Great question @Jim Nettles I will be monitoring for answers. How will the paperwork be drawn up for the note carier and the purchaser? Who will be liable for the contract? Do the agents still get their percentage? if so how? What other fees and contracts go along with this papewrwork?

Hello Dale,

I am in the same boat as you. First time trying to purchase a home with as little down as possible. I have analized over a hundred deals nad have 3 on my top list to go after. I have contacted rocket mortgage, better mortgage, and quicken loans and they want all of my saved money for the 25% down payment. After reading the answers on your thread I have reached out to my local credit unions and am still waiting for a response. I am still unaware if we should be making offers on these properties contingent on us getting financing? Plus the loan finding seems to be the hardest for me than finding the rest of the team because we are new and do not have any history with a bank or lender. I am at the same step you are on this journey and just remmebr that we have to take out all of the emotions out of the dealing with all of this even the brutal honest advice from some of the seasoned veterans. Keep going 1 more step to our financial freedom!

Hello Everyone,

My question is what do we do with the money we calculated for the Cap Ex, Vacancy %, maintenance repairs, and miscellanous when we get them in our monthly payments from the management team? 

Do we set up seperate accounts for this money knowing it will be used later for this purpose?

Do we use it to reinvest into something else until needed?

I am looking to see how people are using this calculated money when it is not in use. I was going to set up another account to store it in and wait for the use but it seemed like a waste of the money and I felt I should be using it to reinvest into something else until it is needed. 

Please let me know what people are doing with these calculated $$$ when they are not in use. 

Thank you guys for the response these were much needed tips I didn’t think of yet. 

Hello all, 

I am extremely new to this whole real estate investing and would love to be part of this meet up. anywhere in SF would work for me. Keep me posted please. 

I am looking to start investing in Tax liens and Tax deeds. I need to know what kinds of attorney's I should be looking to speak to and also CPA or Tax consultant  to look for?

I guess its a complex question for attorney because yes a real estate attorney but what should i specifically ask them to screen them?

The next question will be Taxes should I look for a CPA or a Tax consultant? How do you screen them?