All Forum Posts by: Ethan S.

Its possible flooding issue in the common area. It doesn't seem to pertain to the actual units or even in the same community but it is supposedly structural issue. I just hope that it resolves soon. 

Hello BP members,

I own a townhome in natomas area in Sacramento and am looking for financing. I purchased the property full cash in 2014 and was hoping that HOA litigation will be over shortly for me to cash out refi but it's taking a while. I have gone to many banks and credit unions but all said they can't proceed because of the HOA litigation. I have even tried to get HELOC after a recommendation but still was declined when the banks found out about the litigation.

Similar units have been selling for over 200k cash price and it rents for 1450. I am Looking to get some cash out so I can invest in another property. 

Is there any financial institutions or private lenders in the area that may  be able to help me? 

I purchased one in natomas last year and thats been good to me but the prices have gone up in the neighborhood there so it is no longer as attractive. I am looking for a not so ghetto neighborhood and so far, i might be able to find something in arden arcade (not as ghetto as south oak park in my opinion).  I been living in arden arcade and its been alriight.

i agree with you. I will be looking for a rental early next year and from what i see so far, i might be looking at similar returns in other parts of california. Maybe partnering up to buy bigger complexes may be better. I have been here for six months now, and i love the town.But it is definitely not worth buying a house in a decent neighborhood for 350k and collect 1700 rent. I think i can get that in s ca. 

cool thank you

 thank you for the information. minh 

 i havent tried to get title insurance yet. 

i bought the condo w hoa litigation bc i was able to get it cheaper. I am ok with current loans but would like to convert to a 30 yr mortgage and invest in others. 

Hello,

I recently purchased a condo with cash and am looking for a lender for Sacramento area. HOA is in litigation with the builder for the common area.

Thank you. 

@Jake Weir hmm not sure how to link names on my mobile phone.. the property currently has an attached garage converted to a room which i am thinking about changing bak to its original form. It just has a huge empty lot. Do you know any good contractors in the area? Ive got an estimate for 40k from a contractor through sellers agent and 60k from another. Thank you.

@ Jason Flynn Thank you !