All Forum Posts by: Connie Stainbrook

As a guest what frustrates me is when their is no dresser and hardly any hangers.   Hangers are cheap and I often find host don't provide many.    My properties have a inexpensive 3-4 drawer storage in each closet and TONs of hangers.  I opted to not put dressers in, to give the room more open space.  Never received a complaint and my properties are 30 day minimum.

Hi,  I own two units that are 30 day minimum.   I use both Airbnb and VRBO.  I mostly get locals who have a flood, fire, or remodeling.   For the guest it is easy- no need to fill out an application, pay for a credit check.   As a host you can adjust your pricing based on demand.  Which allows me to get the max rent for the season.   I live in San Diego if you have any further questions feel free to reach out.

Hi,  I have about 110K that I would like to invest in a 1st trust deed.  I was looking at FMC Lending where they provide loans that need funding.  I liked that I can just be a partial investor on a 1st trust deed.    However, I have read some pretty negative reviews about their processes and personnel. 

I am in California so I would be most comfortable investing in a loan for a California property for I know a lot of the areas and have friends in areas I don't know. 

Do you have a reputable company who is looking for investors?   I'd like to get 10-12% which is what FMC is offering.

Thanks

Hi,  I am looking to buy a property in a California tax sale.  It appears the APN is for several spaces in a mobile home park.  However, I don't know what the description means? US155PER DOC91-449967&UND INT IN LOT 1 THRU LOT 17. I know UND INT stands for undivided interest. But it doesn't say what % so I am not clear  if I would own those spaces out right or is someone else potentially owning part of them? The park has 200 spaces so I am thinking I would own spaces 1-17 but it is not clear to me.  I looked up the Trust Deed of the APN and the mobile home park association was granted the trust deed last November.   Any experts out there?

Beautiful work!!! Great job.   You took a tough one and it paid off.

Will be interested to hear about your experience.  Did you end up making money?

@Ryan Dossey     I would be very interested.  You can message me your number and I will call you.

I'd be interested in learning more also.

@Matt R. Actually it wasn't scary at all at that time. Real-estate in the area was climbing crazy fast. That was 1 of 3 properties I bought between 2000 and 2003 in Hermosa Beach. I bought that property in 2002 the identical unit next to mine sold for 1.3 mil within 18 months. I sunk every dime I had into those properties knowing I was making a good investment. I sold the other two properties after living in them for 2 years and not having to pay taxes on capital gain. Knowing that was a dumb idea, but still did it anyway....greed. Invested in other properties outside of California lost my shirt during the downturn. So this is now my little nest egg. As for it being worth 3.1 in 10 years.... I still can't absorb that it is worth 2 mil today. It only collects 7,000 in rents could probably get $7,600 but still who can invest in a 2 mil property with such a negative ROI? It boggles my mind. I almost feel like I need to sell before people realize it is ridiculous. Maybe that is because now I don't live in Hermosa and I forget what a great place it really is to live in. :-)

Investor from Honolulu, Hawaii

Ideally refinancing and cashing out 400K would be great.    I don't think I can refinance because of my debt to income.   I have excellent credit but that doesn't seem to be enough.   The banks only take 75% of my rents into account when calculating debt to income.   That's my problem right there.    So refinancing really isn't an option unless I went from my 30 year fixed into an adjustable loan and that scares me due to potential interest rate hikes.     

I appreciate everyone's input it has given me some ideas of what I need to think about before investing new markets.