All Forum Posts by: Manny Lopez

Good Morning all!

Does anyone have experience in investing in homes that have been wiped out due to a catastrophe? I live in Santa Rosa and just last month we had some of the worse fires ever seen in Cali. It destroyed 1000's of homes over night in upper and middle class areas. Most of the fire victims have moved into rentals and some moved away. 

Are there rules behind this type of investing? 

Will most families keep their properties and rebuild or will a developer come in and rebuild for all?

Any ideas welcome!

hope you all have a great week!

Manny

The hour commute one way is my why. The back pain from all the driving, the fact that the person in he next cubicle burbs constantly, the fact that people around think it's impossible to make it outside of a county job? Starting a scholarship program for hard working students in 3rd world countries... Oh yeah and... flying my parents first class to change the forecast is my mo Effin why!

I am buying a home now. I will be required to pay PMI because i am putting down 15%, anything less than 20% you will pay PMI. What I didnt know was that you are NOT required to refinance in order to get rid of the PMI payment.

I learned recently your home would only need 20% in order to just have your mortgage broker get rid of the PMI payment. SOme brokers will tell you to refinance because for them it is another commission based transaction (in some cases makes sense if you want some cash out tho) however, I have 5% equity to go. I will be saving appx $350/month once that happens and i wont need to refi.

any good recommendations on how to find a good turnkey out of state (calif) i am looking into these markets with low cost housing like Cleveland and Memphis. Scared but ready to move fwd.