All Forum Posts by: Sandy Metivier

Wow, thank you for those responses! There are so many of you to tag and individually reply to with thanks.

You all seem to be echoing the same message, so that is confirming... Agents can do both, but probably don't have expertise in both. 

Thank you all.

Hi all. Is it best practice to shop lenders? Any tips/tricks or info around this would be super helpful.

My situation:

Credit score of 800-805 (depending on company). I want the lowest interest rate, and lowest down payment for a 30 year mortgage. I have zero debt, a good/great W2 salary (it's all relative really), and have plenty of assets. Without tooting my own horn, I'm a great candidate for a conventional loan (especially at the price point I'm looking to finance) and should get low rates no matter which lender I go with. 

So... is it worth shopping around? Or do I just go with a referred lender and use my time doing other important tasks? 

I have also heard of shopping around for perks (lender credits, appraisal credits, closing cost assistance etc.)... is this a real thing? Even in this competitive investment market?

Thanks in advance for all your insights and opinions :-)

Hi.

I'm seeking referrals for an experienced California CPA (well versed on the CA tax laws, preferably residing in CA) that specializes in Real Estate and commonly works with real estate investors (I invest in CA and OH). 

Thanks in advance for your referrals! :-) 

@Uri Gofman Thanks for the referral and response! 

@Stephen Knapp Thanks again Stephen for all your help outside of this thread! Greatly appreciated!

Thanks Kyle for the response. That is interesting food-for-thought. Yeah, I have some friends that bought and moved to Lakewood a couple years ago. They were saying something similar about how quickly it climbed (they are originally from Cleveland, so well aware of the city). 

Wow, thank you both so much. @Dave Foster thank you for the responses and referrals, and I look forward to talking with you next week. @Nicholas Aiola, thank you for that very detailed (bolded appreciated) answer. This was super helpful, and I feel I can rest assured my property will qualify for a 1031 exchange. Yay! 

Thank you @Dave Foster, that is super helpful.

When I ran this question by my CPA he said "That’s an interesting question you would talk to a tax lawyer about that it’s super complex let me know how it goes." -- This raises a flag for me, should he have been able to guide me better? Should I be looking for a new CPA, one that specializes in real estate?

Thoughts on this?

Seems like a silly question, but can a Commercial Real Estate Agent represent the buyer in a Residential MFH (2-4 unit)? And how about vice-versa, can a Residential Real Estate Agent represent the buyer in a Commercial multi 5+ or apartment property?

Thanks in advance!

We have our house in Lake Tahoe, California for 6 years for which in the past we've used a portion of the year as a vacation house (random weekend visits mostly, but a couple of summers we lived at the house), and had the house available on Airbnb for the rest of the year (majority). We are considering selling it in the near-ish future and want to know how we can defer capital gains tax by getting it to be classified as a rental/investment property so we can use a 1031 exchange?

Thanks in advance! 

I’m not even sure if this type of person/consultant exists, but I’m looking for someone wise in Real Estate investing strategies as well as funding strategies.

Here’s our situation…

We are asset/equity rich, and cash poor. But we want to increase our cash flow to retire early with passive rental income. We have built out a projection model and budget, we know our numbers, but we are not sure the best approach to getting it done! Cash-out refi or HELOC utilizing our current own-in-full assets, new mortgages, etc… then is our best play small multi-family properties in good cash flow markets so we can trade up to larger 5+ buildings, or doing BRRRRs so we can get forced equity and then cash out refi, and/or doing some type of house hack elsewhere and renting out our current primary residence in SF… so many options, and so many questions!

We are looking to have some consulting conversations with experienced and knowledgeable advice for how we might best build up our cash flow so we can use our wealth to retire sooner. Do you know anyone? Please send referrals my way! :-)

Thanks in advance y'all!