All Forum Posts by: Mathios Yonan

I am new to investing in real estate, but I do have a home that I purchased for my parent, and the property has about $135k worth of equity.

I need some guidance to see if what im thinking is possible.

I found a home for $200k in Florida - I was thinking of refinancing my property to take out the $135K in equity, and using $40k to purchased this house

so the breakdown is this

Total amount on hand after refinance = $135k

House 1:  price=$200k / deposit=$40k / Remaining cash on hand=$95K
House 2: price=$200k / deposit=$40k / Remaining cash on hand=$55K
House 3: price=$200k / deposit=$40k / Remaining cash on hand=$15K

My question is - does this make sense, and has anyone done something similar?  Or is it a bad idea with a lot of risk?

Thank you all - 

Good evening,

Upon completing graduate school I am looking to find a home that needs significant work done to having construction and renovation skills. I intend on making the home the primary residence as a first time homebuyer. Unfortunately, I am not a cash buyer, however there is considerable capital I can put down.

It seems as though the San Diego market quite rarely has good opportunities that are on large listings. There is not too much concern on neighborhoods or schools, yet it still seems like quite the tall task.

If anyone is aware of any tools that allowed them to more easily locate some of these listings it would be greatly appreciated.

Is there some sort of website, groups, service, or even social media accounts that would have this information? 

Hello! I wanted to come on here and reach out to the broader network! I am looking for a 4-PLEX in the City of San Diego or a Single Family Home with a Permitted ADU already on the property/ADU development opportunity or something similar! Plan is to House Hack/STR-MTR. Lets chat!

I just fired my previous property manager and during the transition to a new property manager, we just learned that our tenants have been using our home as a hostel. One of the tenants is a manager at a restaurant and lets his employees stay at our home. They have 7-8 adults in our home every night. We have given them a 60 day notice to vacate but the tenant asked us to reconsider b/c the location of the home is convenient. They've significantly worn out the carpet so we'll need to replace all the flooring in the house. They also don't use the vent when they shower so the lights in the bathroom are rusted and the place is filthy. Because we'll need to redo the backyard and have significant repair inside before we find new tenants, I'm considering letting them stay if we can increase the security deposit significantly and charge a higher rent to offset the accelerated wear and tear on the home. This will help delay the all the repair costs. Is this a bad business decision? I am concerned with potential squatters and CA law isn't landlord friendly. Just trying to figure out if there's any benefit or risk we should consider if we let them stay assuming we can charge higher rents.