All Forum Posts by: Robert Crossley

Kiersten Vance , thanks for that. The Costa Mesa property has a semi decent cash flow for the area. The one in HB is well above average because I lease it long term to a residential treatment center for substance abuse, it's something I have a lot of contacts with and demand in. To the live in suggestion I don't think that's going to work, I own a home on the sand in Newport that I just had remodeled so I don't think I'd like that situation very much lol! Likewise! I took a quick look at your profile we are the same age and have a lot of the same goals, id love to connect sometime.

Hey Kiersten Vance ! Nice to meet you as well, I have a quad in Huntington Beach and a Tri in Costa Mesa

David Faulkner tell me how you really feel man haha. No really I appreciate the insight! So as a fellow OC investor what are some of your favorite areas to invest in, in SoCal because you are making a lot of sense

@Christopher Vis there are defiantly lenders out there who aren't as stuck on DTI..the terms are all different and you have to shop around but they defiantly exist. I saw a new one out there called SoFi that has a bunch of flexibility on the normal traditional pitfalls maybe look into them? They defiantly exist though, happy searching and good luck!

Hey @Christopher Vis maybe you should look into acquiring some rentals using BRRRR, there is tons of info on BP how to do that. I am far from an expert but the basic concept is you find a potential rental at a great price that needs to be rehabbed. You need to find a place that you can buy, rehab, pay all closing costs, lender fees etc for 70% of the ARV (after repair value) so if a home is worth 100k rehabbed, you need to buy it, repair it, pay all your other fee's for 70k. You can find a hard money lender for the initial loan to do all of this and once you have it rented and let it season for 6 months you refinance at the new value (100k) take your 70k out and use it to pay back all your lenders and fees and now you have a cash flowing rental property with 30% equity. Hope this was helpful!

Hey Jeremy Hazelwood want to shoot me a message? I've been looking to find someone to possibly partner with on an out of state rehab deal. I'm a financial backer but I don't do hard money, I'd be looking for a joint venture...at the very least maybe I could pick your brain to more clearly define what I should be looking for. Hope to hear from you!

Tim Porsche , just curious what portion of the PITI is just the taxes and insurance (so without the mortgage) sounds like a great deal even better as a cash buy and hold (although I know that isn't always feasible) I'm originally from Berks County myself I traded deals like that for sunshine I guess..

Michael Ramos I'm not changing so much, more looking to expand. I am still pursuing MF's in other areas I just want to diversify a bit into some other immediate income producing areas. Buy and hold on MFs in Orange County are GREAT long term investments imo but I can only expand so much putting 25% down payments on 7 figure properties...I still want to add some more in the future but right now I'd like to see what I can do with greater short term upside as well now that I've established some of my long term plays

As I'm sure you know vacancy is almost unheard of here (atleast in my area)

Albert Bui , great thanks for asking! On the try plex I immediately raised the rates after closing and I only lost one tenant. We lightly rehabbed that unit and quickly rented it for $2200 (the others rent for 1900) the four plex I actually rent all of the units to one client which is a residential treatment facility at a rate that is....let's just say well above average lol