All Forum Posts by: Bac Nguyen

@ Dion DePaoli - Thanks for the comments. FCI forwarded me the Summons and Complaints and it clearly stated FCI misrepresentation, false promises, etc. 

Well, the issue I have with FCI is the referenced complaint by the HO is the account I opened with FCI in 2014. After I foreclosure and sold my equity interest to a 3rd party. I closed the account with FCI.

My current accounts with FCI has nothing to do with the old account. FCI elected to freeze the accounts and NOT disburse the money they collected from my borrowers for September is clearly retaliated on the fact that I am not go along with what they want. 

Also, they have not response to my request for an explanation on why they put my account on hold?

Cheers,

@ Luis - Good finding and sounds like to have a good deal. 

I am also looking to invest in multi-family unit in San Diego. As needed, I know an architecture that work with investors and he knows how to deal with coastal commission and pull permit. 

Cheers,

@ Michael Glasser - if you have an LLC in CA. The CA's FTB will charge you $800/year. As others mentioned here that you can not get away to pay.

I know we all don't want to paid the $800 FTB in CA. But, if the LLC provides extra asset protection, peace of mind, etc. Also, it's tax deductible. Then it'w worth it for me, period.

For Land Trust, one of the rules of thumb is DO NOT name the trust after "Your name". Also, if you can find a "trustee" that lived out of state is even better. 

Also, if you put your property into the Land Trust. You might have to deed it back to your name when you refinance, etc. as the lender/bank does not like trusts for non-recourse. 

Do search for "Land Trust" on BP for more info.

Cheers,

@ Steve - I try to look up the property with the address provided and nothing come up?

Anyway, do you have any project in San Diego area?

Cheers,

@ Marc - Thanks for sharing the info. Regarding direct mail campaign, are you buying the list? If so, where to buy the list? And what's the criteria? Thanks.

Cheers,

@ Dylan - Dude, what are you waiting for - leverage your father expertise and pull a trigger? Make sure you give him some incentives - sorry, money talk!  Live pay him to manage your properties, etc. Even though he's yours father :)

PS: Where he lives?

Cheers,

@ Euan Arcia - Nicely done. I also lived in San Diego and would love to meet you and networking.

Cheers,

@ Dylan - I believed it do able regardless where you at - the time zone different is more of problematic than most. Since, even we lived in the states and how many investors investing out side their state that actually visit their property. 

The key is you need to have a right team (RE agent - s/he will refer you to others contractor, property mgmt, etc.) and boot on the ground in-place. 

Good luck!

Cheers,

Hi Kevin,

I lived in Sand Diego and interesting to venture out to the multiple units. So, we definitely can talk and see what are available.

We might bumped into each others at one of Ben's open house. I will PM you.

Cheers,

@Christopher McClatchey - I just received an Email from local REI - San Diego Investment Club - FIBI regarding your event in San Diego. Which prompt me to look you up in BP. 

I am interest to find out more about your program. Look forward to meet you in October.

Cheers,