All Forum Posts by: Stephanie Garcia

In the better neighborhoods of Sacramento it is very hard to find a cash flowing deal but patience is key I believe.

I currently live in 95838, which some would say is not to good of a neighborhood but what I have noticed from observing the neighborhood is there are hit and miss blocks. By strawberry manors area there tends to be more home owners from what I noticed and it is pretty quiet. I am currently looking to invest in this area. Another pretty good area I am fond of is 95833.

HI @Brennen Cook or @Tim Hubbard

For quicken loans are they located in Sacramento? If I already own an SFR will I need a reserves?

I am a looking for an investment property but not finding anything good. I currently have one sfr I acquired 3 years ago with FHA loan. My credit is not horrible but for the big banks I have been having a hard time getting approved because I had a few medical bills go to collections. I have about 10K to put towards a new house. What would you recommend I do?

@Chris Vail, WHAT ARE USUALLY IN THE CLOSING COST AND WHAT ARE CARRYING COSTS.

HELLO,

I WOULD AGREE THE MARKET IS WAY HOT RIGHT NOW. I LIVE IN SACRAMENTO, CA AND I AM IN THE PROCESS OF SEEKING A NEW HOME TO LIVE IN AND THINGS ARE REALLY EXPENSIVE. THIS IS GOOD FOR MY ONE PROPERTY I OWN BUT NOT FOR BUYING A NEW ONE THAT I MAY WANT TO RENT LATER.

WELCOME TO BP.

STEPHANIE GARCIA

Wow. This is awesome @Chris Vail. I appreciate the break down. I will definitely be in touch. I was unsure about how to do the cap rate equation.

@Chris Vail

 I was planning to rent out the other side with hopes of a lower down payment but even still the lender (Golden 1) said I would have to pay 15% because it's two units. I am trying to get an overall picture of how I should be analyzing a property. With my first property I think I was really lucky in 2012. It was a hud home i purchased for 85k. Not to bad. I am trying to find something similar and figure out everything I should analyze when searching. I am finding that my agent is trying to steer me in the right direction as far as neighborhood but as far as pricing I dont know. She thought 238k for this property was decent. Although it seems like it is in Del Paso area it really is not. It is more in the rural area which I think the crime maybe lower in that part.

Congratulations on the  deal. Very impressive good work. I just have a few questions. How did you fund the deal? Just kind of want To know more details about the whole deal. I hear on the podcasts about having something to offer to the mentor. What did you show you had To bring to the table?

Thanks,

Stephanie 

 Tweetable quote. Strongly believe. 

how do you respond to someone's post or mention someone? New to bigger pockets. 

Thanks,

Stephanie Garcia