All Forum Posts by: Mansoor Fazel

So I was wondering, I am spending lots of time learning about real estate and as a Buy and Hold investor, I need to put money together for down payments, and the process of purchasing property, but after having closed on my 2nd home just last month, I am left with too little of funds to buy another property, and I don't enjoy letting money sit in the bank doing nothing..

is there a good place to invest $5,000-$10,000 that would be somewhat passive, and make a decent return? So I can make money with money and not just with work ?

I know the stock market is one place, but looking for something more stable. Any ideas?

why would you pay him? What would you pay him? Most of what you need to learn is here in these blogs and online in podcasts and YouTube videos. Are you really just asking for someone to hold your hand through your first deal? 

Each investors has a slightly different approach to the real estate game. So no two mentors would be the same. The best way is to learn a little from each person and design your own path. No one knows your strength and weakness better than you.

Thanks guys, I have learned a lot from everything, including your comments here. My only "Big" concern was the plumbing leak in both bathrooms and the mildew around the furnace.  I know the other stuff is minor, and it was all taken care of by my handyman. The thing that really bothered me was that the inspection should have caught this stuff. The leak, the cracks, the mildew.... but nothing was indicated.

I will, for future properties, do a walk through before signing on new purchases. The crack isn't too wide, but is long. It spans from the window, to the wall. in 2 directions. Hopefully its not foundation issue, but only time and my contractors will tell.

This is just a lesson in "you live and you learn" Thanks for all the tips, talk, and information :)

So I closed escrow on this house a few weeks ago, and once we finally got keys, a bunch of problems started to pop up. Things like : Only one key to the house Leaks in both bathrooms Door locks were jamming closed Cracks in the walls that weren't there before Mildew by the furnace Do I have any recourse against the seller or the inspector who didn't see any of this !?

So i closed escrow on my 2nd unit, in Elk grove and already found some tenants who are ready to move in today, but when i bought the place it didn't come with any blinds and has several bay windows. I tried to install the blinds myself, but failed miserably. I am looking for a good handyman to help me with this property whenever it has trouble. Right now i just need someone for a few minor things : 

touch up paint

fix the front door locks

put up the blinds

program the garage door opener. 

Does anyone know someone in the area that is good with a tool belt? I would really appreciate it! 

@Minka Sha i got the place for $286k and it appraised for $296k at closing 

@

Richard Goore

i contacted some local property management companies. i found one that was also a realtor and together we toured several houses until we found the right one 

sorry, not buyers, renters.

Hi

Jay Whitfield

its a 4 bedroom 2.5 and I have it listed for $1850 a month. got a few interested buyers coming by this weekend.

JUST CLOSED ON MY SECOND UNIT! I have owned my first rental since 2013. I bought it as a gift for my-then, girlfriend. She has now become my wife, and after the success of our first property, we decided we would go for it again. Just closed escrow on a 4 bedroom 2.5 bath in Elk Grove area. I bought it with about $12k equity still in the property (I know it's not much but its something) and we are going to be listing it soon. Would love to hear who people are using for tenant screenings.Also, how do you guys feel about ARM loans for a buy and hold investor?There are still some attractive rates out there and I could get a 3% rate on a 7\1 arm. I figure within 7 years I should be able to pay down the balance substantially and could refinance for a lower payment, if I still have the loan.

What are your thoughts?