All Forum Posts by: Gabe Medina

Besides the typical “as is”, no financing contingency (as in the case of this auction), what other contract contingency do you recommend?

If the last hurdle of the tax bill is passed, does it make it more advantageous to have your RE in an LLC? Does it make a difference if RE investing is part time and I have a full time job? Generating about $30k or so income rental income a year in the SFBay area.

Kyle J. Thanks!! Very handy.

Both are good and price match. Do your homework for what you're buying. Lowes is closer to me and will price match and beat competitor price by 10% (same brand and model). I once bought a stove Lowes had it for $650, HD had it for $649.99. Lowes matched the $0.01 price difference and gave the additional 10% off. Now I find the 2 cheapest places and go to lowes to get the price match and get 10% off. Like a tax Holiday here in CA.

I tried my local credit union that I use to deposit rent ($4800 month), but they did mostly GSE refinancing and wouldn't do a HELOC on investment property. I was shocked! I almost closed my account and pulled my $$ out.

In the SF Bay Area. Property worth at least $600k as is, so would be about 30% LTV. (depending on how much cash out). Can't get conventional/traditional financing (GSE- FHA, freddy, Fanny, Mo, Jack, etc) for reasons I am glad are behind me. The condition of the property is not one of them. I'm currently refinancing my primary residence (Freddy Loan) and set to sign papers sat. Yes, it cash flows GREAT! Need the cash to fix up (e.g I pay $700/month utilities and want to put solar to make it close to $0). Figured I put $$ into it (save that $700 PGE Bill), raise rent, place it on the market and list/sell at a price I can't refuse and see what happens. I can either keep it (after all cash flows great) or 1031 exchange and leverage up/more. I could always do little by little improvements, but that's no fun.

Looking in advice where to look for a cash out refi (~$150k) on a paid off property, which generates good cash flow (~$3,800 net) . It has some deferred maintenance I need to address (roof, windows, etc) before deciding whether to keep or sell. Can't be able to get conventional financing.