All Forum Posts by: Account Closed

 Do you own the land outright? (no loan/liens) 

ABB - always be buying   (especially in the Bay Area) 

@Jeremy Segermeister I used to review 10+ credit reports a day back in my lending days. Forbearance shows up in big bold letters in the same place they list Foreclosures. It probably won’t affect your score but most, if not all, lenders will be shy to lend to you for quite some time. Don’t do it unless you absolutely have to.

@Chris Mason should be able to refer you to someone. I haven’t pursued a construction loan (yet). In this current environment I envision it being very difficult to secure one. 

I like the move but be sure to keep your long term options open. Once you turn your SFR into a triplex essentially, the property will no longer qualify for Freddie/Fannie conventional loans. So if your plan is to sell at any point (or refi to pull out equity), the value will suffer because your buyer pool is limited. Just something to think about. @Chris Mason can confirm. He's the pro in this arena. 

Try adding value to a proven syndicator. Work for free if you have to 

@Adam Blachnio it’s what you see on BP as that’s what they preach. As you experience your journey, you’ll notice that the vast majority of people invest locally.

@Chris Mason “he thought it would be easy to lower the 3.7% rate...” 

wow... people just don’t realize how good we’ve had it these last 10 years. 

@Russell Brazil net worth goal is very arbitrary since we all believe our properties are worth more than they actually are.

My goal is $100k/month net passive. I’m about 20% of the way there but think the growth will snowball this next decade...

 I agree with most of what you're saying except that no one will visit. I'm ready to hit Drai's pool party as soon as it opens!