All Forum Posts by: Shannon Bunyard

Also, on and off market deals.

Congratulations on this!  I wish you all the best of luck on your investing journey!

Hi Michael, 

I see that your post was entered a long time ago- I am from the Sonoma County area and I a looking at connecting with other like minded people.  I would like to hear about how your investment strategies are working for you!  Cheers!

I have the name of contractors if you are interested- I know this was an old post.  Hopefully, you were able to find someone!

Hi Samuel, If I am understanding correctly you are looking at a hard money loan to obtain your first rental property. I think what you are asking is what potential does the deal bring vs. the amount of cash that you have to put toward the deal. If that is the case, the potential of the deal, I believe is what the hard money lender will be the most interested.  They want to know that they will get paid, within the time frame that is agreed upon, and that they will get the interest payment that was contracted.  Their money is their asset, it is their cashflow.  They will want to know that when they choose you to go into business with, their asset is secure. I would also say that having as much of your own cash as possible is a good strategy.  The reasoning behind this is that you will not have to pay that money back and will have 100% profit on the money that is put into the deal that is yours.  With an investor, paying them back is your #1 priority.  I think it depends on your goals- sounds like cashflow is a goal. If this is your top goal, then the less money you have to pay back to someone else the better. If your top goal is obtaining a partnership in investing-the potential of the deal is a very important aspect of the building of this relationship.

Cheers, 

Shannon

Prayers and much support and caring sent your way! 

Congratulations! You win!!  In my opinion, real estate is the best way to invest.  I think it is true that California is pretty expensive and you may have a hard time finding a suitable location with that amount of cash. You may consider someplace like Fresno or Bakersfield.  Bakersfield is a consideration for me because it is still in California, the rental market is pretty steady and California property values stay the course typically.  Of course every market is different and changes with the market conditions i.e. interest rates, employment/unemployment rates, natural hazards and area events.  You should do your due diligence on the area. I suggest going to the area to make sure that you would want to invest there.  For example- I went to a market that I thought I wanted to invest in and realized that actually that area did not meet my rental standards.  I was glad that I made the decision to go and physically look at the area vs. buying in a place that I would not have wanted to have a rental. Good luck with your investments!

Cheers, 

Shannon

Hi Ed, My name is Shannon McLerran Bunyard.  I am a REALTOR here in Sonoma County.  I love BP!  I am an aspiring property investor.  I am glad to know that other people in the area are looking at investing here as well.  It would be nice to have groups of people that are like minded here that meet up once a month or even once a quarter. I have not seen any forums quite like BP.  I know this was posted a while ago- Do you know of a group like this?

Hi there. I know of a great contractor and home inspector.  Looks like this was posted a while ago.  Let me know if you still need any referrals in the area- I am a REALTOR in the Sonoma County area I have a pretty good network of people.  707-888-9924. 

Cheers, 

Shannon McLerran Bunyard

Ryan, 

  Only time will tell if these homes will continue to decline. It is not possible to really time the market, unfortunately.  Homes are sitting on the market a little longer compared to last year possibly due to the recent rate hikes. With that being said, homes that sit a little longer on the market are likely not priced correctly. There are many factors that impact the home sitting on the market. If not priced correctly the home will not sell, also, if the home is not properly represented with professional photos, not marketed properly, additionally poor market conditions, may impact its marketability. If you see something that you like, you should see it, if it suits you make an offer. If the home is priced reasonably for the current market and marketed properly the chances are it will not sit on the market. Many people are scared to make offers due to the market- date the rate, marry the home.  You may always refinance-once the rates are more agreeable.  Good luck on your new home.  Feel free to reach out if you have any questions about homes in Fountain Grove, I live about 5 minutes from that location.