All Forum Posts by: Marco Cruzatt

Over the past 3 years I have learned a lot from listening to the BP podcast and some investors. I have been working really hard and saving my money and I believe now is the time to make my first investment.

I work full time as a Civil Engineer. I have good  credit and money saved. I'm debating on whether to do one of the following options, 

1) House hack: Potentially buy a 2-4 unit so I can live in one and rent out the other ones.

2) House Flip: Find a fixer upper so I can restore and sell.

3) Buy an invesment property out of state

My short/long term goal is to be a real state investor/developer with various rental properties (Mainly for housing), therefore, I'm aware that the first deal must be chosen carefully.
What does the BP community recommend? 

Thank you so much for the feedback Michael Lee.

The market in California has always been complicated, there are a lot of investors that can pay for shortsales cash.
So at this point my biggest dilemma is to buy and flip or to buy and hold.

Hello everyone, 

A family member has some cash and wants me to invest.
Why me? I'm a civil engineer with a steady income, good credit and no debt.

My question to this forum is, how do I go about? 

Here is a scenario for a house flip.

Let's say I'm able to find a property for 300k, my uncle puts 20% down. I fix up the property and sell it for 380k

How are we supposed to split the earning? 
Any advice would be appreciated.

In addition, do you all think a flip would be better than let's say buy a 4 unit and hold.

Thanks in advance

I've been planning on buying a 4 unit for a while now but prices in Los Angeles CA are too high, therefore, my friend and I are planning on combining forces.
The questions is, can we both apply for an FHA loan? and if not an FHA loan, what is the minimum down payment we can both do?
What are the available loans for us?
Thanks 

I would like to invest in a 2-4 unit property so I can "house hack" however, I don't think I will be able to come up with a down payment for a property in LA. However, I think I may have already found an investor.
I have good credit, solid income and qualify for an FHA loan.

My questions are:

1) What would be the best way to make this work? if the investor let's say put the down payment.

a) The loan would be under my name so how would the investor make money?

b) The investor suggested I take care of the payments and then I can pay the investor back.

Has anyone has experience with this?

Thanks

Can I purchase a duplex or 4plex in LA (South Bay area) with an FHA loan?

I plan on buying a duplex with a trustworthy friend. 
Can I apply for a conventional loan and my friend apply for an FHA (He doesnt have the cash for 20%). He plans on living in one of the units and renting out the second one.

Any updates?

Did you ever purchased your duplex?

@Jackson Carr
People say the same about LA. I know of some investors that reside in LA but invest out of state. I'm gonna prove them wrong ;)

Also, what strategy do you recommend? I'm saving up around 30k by the end of the year and by that time my credit will be around 740-760. I know I'll have leverage, therefore, but what do you recommend as far as getting the best for my money and as far as properties. Do you think I'll have a chance buying a gem that may be foreclosed?

@Jackson Carr

Thank you so much for the info!

I really don't know if I wanna live in Compton. I have heard bad things but I have also heard things such as " Some areas are not that bad" . 

For my first property I would definitely be house hacking, I just need to find the best deal at neighborhood that would be the most beneficial for me.

I'm gonna look into qualifying for a 4 unit instead. It might be worth it long term. The only problem is, most duplexes and 4 units around here are in bad neighborhoods.