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27 May 2024 | 7 replies
With that type of starting capital, you'll have some space to scale 'relatively' quickly, but start with one, maybe two, and familiarize yourself with turnaround times and payment/draw schedules as you go.
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27 May 2024 | 3 replies
Best to consult an attorney - these types of things can get complicated and take time to work through - don't want to be in the middle/end of a lending process and have this be unresolved/still pending
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27 May 2024 | 22 replies
You checkout on the website, they prepare a couple documents (including contract) and send it to you.
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29 May 2024 | 27 replies
@Kirpal Toor - Just wanted to chime in here really quick, I think Greg nailed it above that there are many different types of service models in the industry.
26 May 2024 | 3 replies
Could you guide me on how to transition my career, the necessary documents I need to bring from the Philippines, and what steps I need to take to sell properties in California?
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26 May 2024 | 5 replies
What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.?
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27 May 2024 | 9 replies
What type of mortgages are you looking at?
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25 May 2024 | 18 replies
This can be done with a conventional full documentation loan or a Debt service ratio loan.
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27 May 2024 | 4 replies
Not all investors share the same goal.If it's strictly positive cash flow, you're going to have a tough time meeting that goal while living in one of the units these days in Belmont Shore.Under the current economic decisions, if you're going to live in one of the units, a more realistic goal might be to subsidize your mortgage with the other two incomes to bring your mortgage payment down, build equity, ride the market appreciation, force some appreciation of your own, refinance when rates are in your favor to crush the mortgage payment down, and keep positive cash flow for a long-term goal.Belmont Shore is a nice area where homes hold their value well and enjoy good appreciation as well as strong rents and in general, the type of renters landlords are looking for.Belmont Shore is also a good area for short-term rentals and you may want to consider renting one unit as an LTR and the other as an STR.Ultimately, your situation is going to dictate whether this triplex is a good investment for you and your husband but as a Long Beach resident, I know that Belmont Shore is an area that people aspire to buy a home in.
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26 May 2024 | 3 replies
The inspection is an opportunity to (a) document the condition of the rental so I can track tenant damages from that day forward, (b) look into any maintenance issues the tenants may be concerned with, and (c) notify them that a new lease is coming and what that entails.As for rent increases, I don't ever recommend keeping tenants more than 10% below market.