All Forum Posts by: Jameson Wildwood

So I've got the bug (been looking a LOT), and I think I've identified two great properties. Let me summarize here a bit. I live in SF and I travel a bunch, so I have been in chicago all week and I think I identified a really good deal, REO, looks like old people sold through estate, it's at about 50% of market. Stable area, but with about 20k of fix ups, could cash flow REALLY solid 33% CCR. Good possibility I can pull all (or more) of my cash out in 6 months with a re-appraisal, and create an income in perpetuity. Zillow estimates growth rate in the 3-4% annum range. Looks like no creatively available.

2nd Deal, closer to home, cap rate is much higher, but rent CCR is lower ~10%. Same size deal, less cash flow for the price, but really amazing potential for growth. Less Fix up required.

Either of these properties alone I would be able to put 20% down on and have reserves for fixing and other things. Both together stretch my available cash, but I would like to get into both. I'm looking for ideas on how to do it. from you guys, I've got good credit, about 55k of cash available and these two deals are both around $150k each, approved for 20% down from multiple lenders no problem. I want in on both, one is great income for life, and the other is great appreciation potential.

Do you know any lenders that do 10 loans? The person I'm working with now will do 4, but they also seem really good, would love to find a 10-er.

I'm in a similar position to you. I live in San Francisco, renting, and even the condo we rent for 3600/month (3/3) zillow puts at 1.2 mill, crazy.

I've been looking into Sacramento as an area, but I've been beaten a couple times by cash offers or financing offers over list. The CCR on most of the properties in Sac is about 8% or even less, I've been calculating a lot of CCRs in the 6.5% range. Even potential rehabs are 8-10%.

As for out of state, what do people recommend on the west coast, anyone?