New Articles Relevant with Pay off Mortgage Quicker, Conventional Mortgage, Subprime Mortgage Loan and San Jose Wholesale Mortgage Lenders, Bay Area Real Estate Market Update Nov 2019 + House Hack Deals in San Jose ($700k w- 5 bedrooms).
Snead Meet up 11/7/19 – SHARED
AGENDA:
INTRO:
Allen from bay area san jose, real estate agent, over here, market is good buyers are buyer
Ryan also an agent with Redfin , specialize in selling homes, sitting on the market, last couple of weeks selling inventory going down all over san jose
Joey – in transcition to plumber to investor out there full time new to real estate
Mayra- tri valley livermore 2 years in the business with mom , invested in some homes, here in ca out of ca looking to network try do deals in ca
Elizabeth from Tracy – mom 2 years havent done any deals work together //
Lorraine from sF, not in real estate, pharmacist at kaiser new to this,
Anthony Techinician at pharmacist newbies in real estate trying to learn
Kelly – realtor , do property management looking to learn flip house hacking
Bernard – real estate wholesaler in the bay area SFR vacant lots, fix and flip
Carlos – work at Gen bbq restaurant, do real estate part time, 7 months ago been tryin g to ger first wholesale
MARKET UPDATE:
3rd love , scary, hesitation ,
Prices: expensive = $700k low point see high prices $1.5 and up
Bernard deal for $350k = $600k = 50%
Buyers conv. FHA, buyer – ??? still conventional go for homes on the market lower prices , VA – $799k paid over $835k ,
1500 actives down to 1200 so 300 offers accepted 5 months all inventory will be out – price point $800k and under over $800k
Oakland – alot of properties on the market sitting for a while 60+ DOM = rent control – price ponts = $450k $550k allf fixed up – been 45+% days $700k
OVERALL : PRICE ARE DROPPING steady more affordable houseing
Investors: we can buy super low! Owner fifnacing rent it out cashflow
Victories:
KELLY – reccomend san jose, elk grove , price point $400k and up market value san jose – marrket where selle r wants to net cusion , price a littler higher , $800k sweet spot
Ryan – very tricky VA loan make sure seller had to do all section 1 work – termite report
Joey – getting in touch with home owners 15 pack and door knock talking to someone call back, follow up and follow up arv $850k buy and hold $700k – rental – 3/2 = $3,200
Loan balance $600k
OPTION 1: mortgage is $600k loan on the house Subject to: take over the loan keep thecurrent laon in place and then transfer title to your llc or your name but keep the loan under the seller name that wway you dont have to get a new loan
Pay out seller the different price vs. loan amount = $700k loan: $600k how much do you have to pay the seller?????? $100k cash to get this deal
Catch up on default: $50k tough seller // 1.5% they might just list . lost the property 2 weeks!!!!!
Mortgage tax = $4k but rents are only $3,200
$500 RULE : $100k = $500 in payments
$200k = $1,000
$400 = $2,000
$800k = $4,000
FREE house payments $3,200 and rents $3,200
626 Daly City
‘’OFF MARKET FROM AN AGENT – Cold call all day
Challenges:
JOey – bought for $700k how long to take
Who’s going to buy it????
TEST PILOT – zillow ciraglist or stronger moms
Mayra – pleasanton not livermore
Door knockers 20 – 25 bump add a zero
LIVE deals:
1416 Mount Diablo Dr
5 beds
Room rental = $750 x 5 = $3,750
Mortgage : rough numbers $500 for every $100k = 7 x 5 = $3,500
Everything covers!
House hacking
$1800 x 5 = $9k a month
4 x $1500 = $6000
Mortgage on $700k = $3,500 round up o $4k
ADU = costs $150k to $250k
$100k loan at 8% = $8,000 = a year /12 = $600 osmething
$500
$1 .8 a year / 12 .05244
$350k
Repairs: $250k
Total costs $600k
ARV: $700k or $750k
Closing cost: 5-10%
$100-200k
Hard money – private money –
Conventus 10% down rates 8-10%
Door knocking – cost effective
Mailers = 50 stamps = $25 to $30
Mailerin ocmpany in Ariznona = .50 for letters, shipping, printing
95112
$700k – $780k
Build out 2,500 sf = $200 per sf = $500k
$200-300k
$1.5mi
Refi all of hs money out
QUESTIONS: eminment domain list – highways , near publi building , transportaion , capital
San Jose Wholesale Mortgage Lenders, Bay Area Real Estate Market Update Nov 2019 + House Hack Deals in San Jose ($700k w- 5 bedrooms).
Bay Area Real Estate Market Update Nov 2019 + House Hack Deals in San Jose ($700k w- 5 bedrooms). New Articles Similar Refinance Lenders, Guaranteed Mortgage, Lowest Mortgage Rate, Second Mortgage Interest Only Bad Credit Home Loan,
Mortgage Lenders and San Jose Wholesale Mortgage Lenders local Greeley area.
Home Loan Details You Can Really Understand!
A borrower is entitled to all due regard and a high level of service regardless of the size of the loan being asked for. Here are some reasons why you must employ him/ her. An established broker can even have his or her own business.
At least a few of it can be. If you have a home loan, you may be losing out on regular monthly cash that belongs in your pocket and not your home mortgage business’. This is cash circulation you definitely desire a part of. What is cash circulation? Capital is the motion of cash into or out of a financial product. Your home mortgage is a financial product you have the chance to move money out of. And into your savings account or financial investment portfolio. How? Simply re-finance your home mortgage or get one. Refinancing your current home mortgage, customizing, or obtaining one are, when looked at more detailed, are terrific methods I would like to reveal you how to manage your money much better.
best mortgage lenders lenders charge really sensible interest rates as their own threat is really less. Bad mortgage lenders may charge a small premium cost as compared the regular mortgage lenders as it is thought about a huge threat to lend money to a person in bad credit. Forbes and various other companies conduct studies and put together a top ten list of bad mortgage lenders. Based on these data, let us analyze the names that are on the list.
When you stroll into a bank in search of home investing aid, do you ask a bank officer about his or her experience in the field? Not likely! Whether or not the bank officer has the experience required to guide you in this special matter, they will desire to get your business. This problem will not take place with brokers. Each home mortgage broker has present understanding in his field; all you need to do is search for the candidate and pick the right one. A more info broker expert can offer skilled service tailored to your needs.
There are a great deal of calculators readily available on the Web where you go into the home mortgage quantity, the regular monthly payment and the home mortgage term. This will have the ability to compute the rate of interest for you in a couple of easy actions.
However, there are certain things that these individuals must be conscious of prior to they do really reach such lenders. Below we have a look at simply what a few of these things are.
Direct lenders have the least options. They can just advertise their least expensive home mortgage rates. Their least expensive rates may not be low at all. Home mortgage brokers work with numerous lenders. Among which may have really low rates. Which, however, are for a program for which you do not certify. They can still use them to reel you in.
With countless dollars in the balance, making the effort to ask a couple company website questions is well worth the effort. You can make the right re-finance decision for you when you have the proper info.
Try to find their “news release” link and discover out if they have actually recently launched any special offers. You can likewise purchase indicate lower your rates. For many of these loans, they are fixed-rate.
