All Forum Posts by: Tyler Hungerford

I would HIGHLY recommend you speak with a family law attorney before signing ANYTHING regarding your properties. Because this is CA, properties are worth a lot of money. You should not give away yours so quickly. Again, consult an attorney on this stuff. You will need someone very good to help guide you through this. This is an extremely complicated situation since it is more than just 1 piece of property. Do not just give away your side of the property. That would be the worst thing you could do. Protect yourself and get advice from an actual attorney. These forums are great, but this isn't something you want to mess up. 

Hi Tom, thanks for the post. I'm a local realtor out here and my main focus is investment property in the Inland Empire. I just helped a physician purchase a 4 plex in Riverside. We beat out 11 other offers. Would love to see how I might be able to help your group with finding assets in the area. 

@Cory Shea I live in Redlands too! I've lived in Riverside as well. It's a great place to live, but Redlands just has that extra level of charm that is hard to find anywhere else in the IE. Have you seen that triplex on Linda? Or the duplex on Buena Vista? Could be pretty sweet properties for your first buy. Would love to chat with you further. Cheers!

@Rob Moran thank you for saying that Rob! Can't wait to help you find some more this next year. And at least one flip ;-) 

Hey Nick! Nice to meet you man. I work in the Inland Empire. How can I help? 

@linzey Brad is my preferred lender lol!! I've worked with Brad on multiple properties so far this year. I think you guys would get along well. We're gonna get you into a household soon my friend. Got a good feeling about this next couple houses. 

I agree with Brad on this one. Riverside is such a great area to grow a family and you can still find great houses for a reasonable price. I just sold a property in Riverside near La Sierra University and my client was planning on renting out a few of the extra rooms to help pay for his mortgage. It's a wonderful strategy to help get your feet into real estate. Would love to chat with you more! 

Hi Melody! This is a great question and I've been hearing it more and more lately. Using the FHA loan option can be VERY beneficial for you in order to get your foot in the door to purchase property. Please note that you'll need to have at least 3-6 months of rental reserves in the bank in order to cover vacancy periods. Also, the rent from the 3+ units has to cover the mortgage payment by at least $1. Something you'll need to consider when making offers. That might mean you'll need to put more money down in order to lessen the mortgage payment so it matches total rents or potential future rents. Those numbers are determined by the appraiser. Another thing to consider, low down conventional loans won't work for 2+ units, so if someone says you can do a 5% conventional loan on the purchase of a multi-family unit, they're wrong. If you're going to use an owner occupied conventional loan it has to be a minimum of 15% down. If you go that route then you don't have to have the rent cover the cost of the mortgage payment and you don't have to have the reserves in place to cover rent for multiple months. Hope this helps!

Sell to me and only me! lol!! There are a lot of people doing this right now and making a ton of money. Best of luck on getting it going. Drive around, find houses that need work, and get people on the phone. 

Hey Nicole, I helped Rob above purchase that property. He converting the garage on a duplex we bought last year. Powell and Associates is a great resource because they come out and do a free inspection of your property with you and then help you with the whole process of getting the plans approved by the city.