All Forum Posts by: Miguel Ochoa

Thank you guys for the reply. I was getting ready to do pre fab granny unit total cost with separate utilities is going to be around 170k for 2 bedroom my area allows 1000sqft and rents are around 1600-1800 I talked to the planing department I may be able to build an actual house up to 1600 sqft fees and build out would be more but it would be a true duplex. What I dint like about the granny unit is that the city told me there always has to be a property owner living there. You can not rent out both units. Not sure how hard it is enforced but that would take out any investors if I sell. Should I go as big as possible?

Hello all I purchased a home in the east Bay Area with a good size lot 15sqft. I have been looking for deals to flip but my current best option is to build out in the back yard. There is no comps in the area that would support the build out. Rent are still good but I would want to sell and be cash ready. I could build an Inlaw unit save on fee and build out or build a 2 story house and be all in on my cash. What worries me is that if the comps don't come in all my cash will be tied up in the property. Could be a big move I will be attempting the build out my self so it will be a learning experience to do more build outs or add ons. What do you guys think about additions to the back of a house?

Hello So I have been looking for the next house to flip. As I go to auctions and houses for sale on mls for investors (cash only sales). I am seeing these houses sale for WAY more than they should sale for. I crunch the number and look at the work on the house that need to be done and theses house are selling for very little profit if any. I just started following these buys and sell to see if they make any money on the house. Example house in lower class area listed for $225k needed full rehab sales in area are $350k house sold for $325k! Where is there room for money in that? Guess it's more of a vent but is it time so sit on the sideline for a while and see if the market corrects? I always believed that being active is the way to go but seems like deals are harder to find and leaving investors at risk of over paying.

Hello finally sold a few of my own properties ( i have lived in all of them) and have the money to buy a flip. I found a abandon looking property and have the owners information. I need help on the wording for a letter to mail him. or what you guys think would be the best way to contact? any samples will help.

Hello so I have been buying and selling homes that I have lived in for the last 6 years( sell every 2 years to avoid tax) and I have finally saved enough money to start flipping homes. Every time I sell a home the commissions are eating up a big part of the total profit I want to buy a home doing my own contract directly with the seller. Is there any website that can help walk me though this? Or any recommendations on how to do that? I will be looking more to buy the home as most agent will only look at the mls. I live in the east bay in Northern California. Any help will be appreciated. Thanks

thank you for the info. Is there any tips you can give me for buying my first auction house? I been following auction.com and going to there auctions. Since I only been to a few is there any way to calm your nerves, or find the right price point? I often see the guy holding the auction have a headset on rasing the price I assume is from the bank.

court house stepsm

hello BP

 I have gone to a few auction here around the eastbay CA. I am wondering what is the best way to do a property title check? 9s there a website? I want to make sure there is no leans on the property. 

@david Faulkner thanks for that advice I should start thinking longer term. I still don't see the condo as they way to go. Like you said just need to find the right deal and the right location. 

thanks for the reply guys. I am currently trying to buy another condo using a VA with zero down. Do you guys think I should rent the condo and wait for it to go up some more or sell and cash out? Is it relistic for property to continue to go up at this rate?