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In My Neighborhood in 95116 : Real Estate Advice

  • All8
  • Local Info3
  • Home Buying0
  • Home Selling0
  • Market Conditions0

Activity 2
Olufemi8, Home Buyer in Chicago, IL
Wed Apr 8, 2015
Olufemi8 answered:
Me and my wife just bought a building and got a 203 loan, at the closing no one showed up but us and the lawyer not there lawyer. So we signed all the paper work and a week later they said the building is yours. We had a construction loan added to that to get a new porch, garage, and fix the basement. Now the porch is done we can't get in contact with the people to pay out to the GC, now my wife feels like it was a scam and we don't even own the building. What should we do? ... more
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Mario Pinedo,…, Real Estate Pro in Cupertino, CA
Tue Oct 6, 2009
Mario Pinedo, Ccim answered:
Definitely there is a good rental market in 95116. If you are priced correctly, then you should be able to rent your unit within a couple weeks. When buying for investment (both rental and resale) you should look at the property with a certain focus. Certain bedrooms and baths combo rent better than others. A small sized 2 bed/2 bath is preferrable to a spacious 1 bedroom unit. Also, certain ammenities, while not hugely beneficial to higher rents, will make big impact when you sell the unit (garages, outdoor private space, top floor units, etc). You may also consider a duplex/fourplex which will eliminate the HOA fees and give you a far better GRM (gross rent multiplier). ... more
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