All Forum Posts by: Pandu Chimata

Hello team, I am about to start on my next investment project that was acquired last week. The project is in Idyllwild. The property have multiple exit options - Flip, Airbnb and/or just hold for long term rentals. 

I will detail out my plans as I plan the project. 

Mark, I will check it out. 

@Rafael Ramon - Congratulations! I own one short term rental in La Quinta and very close to Indio and Close to La Quinta schools, etc. 

@Mark Futalanwas my guru when I bought my STR almost two years ago.

If done right, and based on the right location, yes, STR has potential.

Hello folks, I am in the process of purchasing a mobile home (never done before) in the Palm Springs area. 

1. I am looking to see which companies offer insurance for Mobile homes. I asked my agent (who insures my primary residence) and they don't do insurance for mobile homes.

2. Also, what kind of rules/code will be applied if you change the structure inside of a mobile home such as adding a new room or changing the layout, etc.? Do mobile homes come under city permit/code? 

Any help in this regard is appreciated. 

@Eric Trostle - Thank you for the information.

@Eric 

@Eric Trostle - How did you approach title companies? Do they generally provide that kind of service? or you pay them?

@ Aaron 

@Aaron Amuchastegui - Is the following link changed? It's not working?

https://4closure.info/statisti...

I have taken forbearance for 3 months on my rental property and now started paying back from the current month onwards. Using the online form, I did indicate the bank that I am going to pay off the deferred 3 months loan in the next few months. I do need to work with the bank on how that repayment plan will look like.

On the side, now I am in the process of refinancing the primary home and just submitted all documents and waiting for the lender's approval. I am waiting to see what they are going to say - they might say that I need to bring the payment to the current. waiting for their response.

I also took a HELOC loan on my primary home in May while I was in forbearance and the lender wanted me to bring the mortgage to the current. So I had to pay two months' payments to bring it to current. Then I again reentered into forbearance.

Per the report, forbearance numbers are decreasing and businesses are reopening slowly and steadily. With that said, do you still see the market will be flooded with foreclosures in the next 8 to 12 months period? 

https://www.mba.org/2020-press...

Thank you!

@Rene Owczarski, Thank you for your response. I never thought of asking cancelled checks. This is a good one and also the escrow account for 12 months.