All Forum Posts by: Account Closed

Hi Dustin,

I agree with what Tobias said when he brings up the sleep factor. If you're having a hard time sleeping or worrying about your investments - it's probably best to rethink your strategy. The way I see it, you're cash flowing real nice off both units and have good rates locked in on both properties. A lot of the buyers in Folsom and the surrounding areas right now are from silicon valley/ bay area folks that cashed out big on their previous properties and are coming up here amazed at what their money gets them. In other words - a lot of cash deals and large down payments so a large crash is unlikely. I would think that worst case scenario is you lower rents in a big market down turn and make no profit but have a tenant build your equity while you wait for rents to go back up. Good luck and I'd be interested to hear what you decide to do.

@Stephanie Medellin 

@Stephanie P.

Thank you both for your feedback!

@Stephanie Medellin Yes, the HOA was suing the 3 builders of the community for various manufacturing defects. 1 of the builders has settled and the other 2 haven't reached an agreement yet.

Hello, 

I have some clients interested in buying a condo that's HOA is under litigation in the greater Sacramento area. It will be owner occupied and not an investment property, at least right now. Came across this post and was hoping someone had some recommendations of LO's or programs that could get them into the property. I have found one LO that has a program that requires 10% down but my client was hoping to put a little less down since she has excellent credit (~790) and great debt to income ratios. Any help would be greatly appreciated!

Thank you! 

Ryan

Looks awesome! Excited to watch the progress!

Welcome Erik! Bigger Pockets has a wealth of information!

@Leigh C

Lol you make a great point!

Thanks Kyle!

Just passed my real estate license in CA!!! Probably broke the record for failed attempts but now that I've passed it I've taken my first real step into REI! As soon as I'm licensed I plan to sign up for my pro membership to start evaluating deals using the BiggerPockets calculator!

Myles, I think your best corse of action is to fast track your RE license and get it done as soon as possible, and either do that on weekends/time when you're not doing your security work or just make the lead into an industry that will at least get you closer or open a few more doors. Something that comes to mind is any bank. Even if it doesn't directly introduce you to someone in REI it will almost certainly give you a nice perspective on the world of finance, which has its place in REI. But there are many things out there that could potentially give you insight. Mortgage companies was a great idea, property management firms, apartment complexes, even hotels. All these ideas have some relation to real estate. You have the first step down of wanting it but without taking that first leap into something new you're relying on luck of someone walking into your life and telling you what to do/ where to go. Almost all rewards have a risk associated with them and being that you're so young you have a lot of time to build yourself back up if you fail initally