All Forum Posts by: Jake Knight

I'm guessing perceived complexity/lack of understanding about the process, complacency (many longtime landlords have great cash flow), or lack of desire to build something from the ground up.

For those who are doing business with regional or national hard money lenders, do you know which HML will allow seller financing as part of a purchase?

I am looking for a multi-state lender.  

Looking for a HML who can lend in most states and allow the seller to carry back a second. Please DM or call me.

@Bill Scott I spoke with a few companies but could not make something work in the time frame I wanted so I am going with long-term tenants and will try again down the road or if I pick up another property there.  

@Sean OToole Hi Sean, PR has a vacancy filter? Can I access it through a transfer date search or is it in another area?

Thanks, Greg. I'm buying it for $150k and would be bringing it up to desirable rental standards. All in maybe $200k. I should be able to cash flow either way, or I can 1031 out of it. 

That said, I read some articles and studies about their living conditions. It's unfortunate. If I can house people in better conditions plus cash flow, it's a win-win.

Any Salinas/Central Valley investors here have experience with housing farm workers?

I'm exploring the idea of putting a single family rental up to house farm workers, as suggested to me by my contractor who lives there and does the same - on a small scale. I plan on speaking with the planning department and a couple property mgrs but want to check with fellow investors as well. 

I'm interested in renting by the bed to achieve higher returns while providing a quality roof over their heads. 

Can anyone helpful recommend helpful contacts (such as labor leaders who deal with housing), or insight into the model? 

Addtl keywords: Monterey, Fresno, Santa Cruz, San Joaquin, Stockton

• Contract for assignment, off-market
• 5 minutes to downtown
• Delivered vacant
• Access will be granted upon review of POF/preapproval letter and recent project history/schedule of REO

Comps:

2450 Wisconsin St SW

Sold for $112,000 in October 2018. Same street and floorplan. Can’t get any more “like” than this! 

2418 Wisconsin St SW

Oh wow another one on the same street! This is active listing, again with the same floorplan but listed at $117,500.

Rents:

Rentometer has it at $915 but I think $875 is the conservative number and depends on what level of finishes you include. 

Looking for a good CA R/E transaction attorney for sub2 and other deal structuring needs. Any recommendations? 

Closing on a condo with cash but looking to refi out on a short-term basis while I flip it. Any hard money lenders with good pricing for a 10-yr old condo in Santa Fe, NM?

Looking for maybe 65-75% of purchase price.

Please call me if you're a lender and have competitive pricing.