All Forum Posts by: Matt Mainini

Great questions!  Wesley, I like your question about who is the owner of the property.  For RE lingo, what are some suggestions you have?  Can you elaborate?  

I'm looking as well with emphasis on tax strategy.  I live in Santa Cruz and have not found someone yet that can help with structuring and tax strategy.  Most seem to use turbo tax themselves to do your taxes, or something similar.  I'm wondering if "CPA" is the wrong search word for what we're looking for...perhaps "tax strategist"?  

I'm in California and investing out of state.  My credit standing is excellent with capital to cover the investment, however I would prefer to use leverage at 20% or less.  Can you recommend a good lender currently that has low rates for out of state investors?  I am hoping to form a relationship to do multiple of these in 2019 (2-5 deals this year).  I've only had a one conventional loan to date, so I haven't hit my max of 10 before commercial is required, but the properties are investments out-of-state.

What do you consider a reasonable rate and term for the beginning of 2019?  I've seen 6.0 to 6.3% floating around for 20 yr with 3 or 5 year term.

Thanks!

I'm looking to meet like-minded real estate investors who would like to partner for what hopefully blossoms into a strong mutual long-term relationship with financial gains abound.  In the short-term, I'll be happy closing deals as your financial partner.

Living in California, I plan to invest out of state on some properties that have positive cash flow. SFH and multi-family properties (A/B class). I would like to purchase some cash flowing properties and/or finance opportunities that you find. I can help analyze the deals, but I really would like to lean on your experience and learn from you, ideally over multiple deals.

If you are looking for a lender and you have a funnel of deals coming to you but need capital to make those gains happen, let's team up!  Please PM me a little blurb about you and your situation and goals.  Thanks!  

Hi Ben, how much financing and what terms?

Hi Colton,

I live in Santa Cruz and own a property and "study" the market daily. I think 850k might be close to average these days for a 2 bed 2 bath (2/2) or a 3/2 SFH, but there are certainly move-in ready homes in the 700-800 range within a few miles to the ocean that are 1/2s or 2/2s. I have a friend that just sold a very modernized and beautiful 1/2 for less than 800k. If you get an agent to help set up an automated email list, you can browse the properties that come on the market in that price range from your daily inbox (some days may not have anything for your criteria). Mike Bloch, my real estate agent, helped get me into my property and was really understanding of my particular needs. I'll connect you if you're interested. Good luck on your search!

I've purchased my first SFH in Santa Cruz 2 years ago, and appreciation has gone way up as we know this area can do. However, I do not plan on the appreciation continuing over the next 5 years, as crashes happen as well, let's not forget.

So I'm house-hacking, building an additional living unit on the property to rent or move into and rent the main house, and essentially break-even on the living expenses at that point.  Of course my capital reserves take a big hit for the addition, but I think it sets me up nicely for the future, as I can save even faster with "no mortgage" in Santa Cruz county!  

When the market turns, hopefully in 3-4 years, I'll be ready to pull the trigger on another similar SFH, duplex, or larger. After a few of these buy and hold properties, I'll retire comfortably with millions in assets (assuming silicon valley doesn't go completely dead).

Thank you all for your input.  The surveyor, Gary, is "too busy" to give me the angles.  What I did was follow this formula to calculate the area after I manually calculated the angles in Illustrator:  

https://www.wikihow.com/Find-the-Area-of-a-Quadril...

My value came out to the same as the survey, which is good and bad.  Here is the breakdown of before/after survey:

Before: Property was 10,411 sqft and livable space was 1477 sqft

After: Property is 8300 sqft and livable space is 1294 sqft

What can be done about this?  If these are accurate can I at least lower my taxes by contacting the tax assessor?  How do I approach them?

Perhaps he can provide angles,  but I think they just use CAD to do that (I will ask the surveyor).  I believe with only 1 angle it will be possible to calculate.   

I am building an ADU on my property and need to know the total square footage of the property. It seems straight forward, but it's a complicated measurement. Length x Width = Area right? It's not that easy unfortunately.

I have had an expensive topographic survey done, however my Architect and Surveyor struggle to provide the total square footage. The shape of the land is an irregular quadrilateral with no known angles. All 4 lengths are known. Can you please help?