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Investment Properties in Contra Costa County : Real Estate Advice

  • All65
  • Local Info5
  • Home Buying37
  • Home Selling3
  • Market Conditions1

Activity 22
Thu Mar 17, 2016
Richard Littlefield answered:
Yes you may, but do it correctly or the government will be showing up in a year wanting back taxes and penalties. I have seen people really get killed on this. There are companies that specialize on 1031 exchanges, they charge a lot, but it is way less than getting it wrong.

It really is not that hard though. You can do it yourself, just read up on and make sure you do it correctly. There are time periods you must meet, paperwork to file and ways to handle the funds.
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Mon Oct 26, 2015
Karen Peyton answered:
Consult an attorney in this matter. Without a copy of the lease agreement, it is impossible to know what you can and cannot do. In my opinion, a new lease containing the same terms and conditions (or minimally an addendum) should have been drawn when the new company became the responsible party, and again when you father became the new owner.

Again, you need an attorney. A real estate attorney.

Best of luck!

K.
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1 vote 1 answer Share Flag
Fri Aug 8, 2014
Simon Watson answered:
Dave,

I am also a English with a green card living in Walnut Creek, feel free to give me a call if you want to chat,

Simon

Simon Watson
Keller Williams Realty
(925) 286-7112

BRE 01881304
simon@myrealtorsimon.com
www.myrealtorsimon.com
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0 votes 2 answers Share Flag
Mon Apr 21, 2014
Claudia Muller answered:
The new lender will utilize 75% of the rent schedule the appraiser calculates. This will be used as extra income for qualifying for that rental.
You may put as little as 15% down on an investment property.
You will need to show 6 months cash reserves of PITI for each property.
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0 votes 1 answer Share Flag
Mon Feb 3, 2014
Brian Nguyen answered:
Hi there! There's a bit more information I would need from you to see if I can help. What were the circumstances of the foreclosure? What do your current finances look like? If you would like help to see if you can get the refinancing you want, please feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com ... more
0 votes 3 answers Share Flag
Sat Jan 11, 2014
debbie.farmer answered:
Just run your numbers. This is a simple formula to use to see your rate of return. Of course you need to adjust for potential repairs/vacancy.

Gross rental yield = Annual rental income (weekly rental income x 52) / property value* x 100 ... more
0 votes 3 answers Share Flag
Tue Nov 26, 2013
Gene Riemenschneider answered:
They can be very expensive in Walnut Creek. There are a lot of variables when looking to invest. I would suggest you follow the link and get a free copy of my investing book.
0 votes 2 answers Share Flag
Thu Nov 21, 2013
Rick Lane, JD answered:
Hi Tony,

I live in San Ramon, work in the San Ramon, Dublin, area and I just moved from Dublin.

I have 20 years of investment property experience as I have purchased and sold several investment properties.

Dublin is growing and is a very convenient to shopping, car dealers, BART, and freeways. San Ramon is a little farther away but also a great place to live. Both cities have great school systems.

Please call (925-324-8172) me if you would like to discuss

Rick Lane, JD,
Broker Associate, J. Rockcliff Realtors
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0 votes 6 answers Share Flag
Sat Nov 9, 2013
Brian Nguyen answered:
Have you considered financing for this property? There are some things to think about when buying an investment property. Well first off since this is an investment property and not your primary home, things will be treated differently when it comes to finances and rules. You can no longer qualify for any of the first-time buyer perks like grants or an FHA loan unless you actually plan to occupy this property. Otherwise, you will be expected to pay a higher down payment and interest rate if this is your second property. Either way, you should speak with a lender like myself that would be able to help you with your questions when it comes to financing. Well I hope this helps! If you have any other questions or if you would like a loan, feel free to contact me. Good luck! Brian Nguyen Sr. Mortgage Banker Phone: 949.667.2887 brian.nguyen@nafinc.com ... more
0 votes 7 answers Share Flag
Sun Aug 11, 2013
Douglas Lagos answered:
I have been an investor and owned rental properties. I am also a realtor. That said, if you have only $200 cash flow each month, that's less than 1% return on your money.
Best to put your money in a bank or under the mattress. Not worth the future headaches of being a landlord. And, God forbid anything breaks in the house, or the tenant doesn't pay 1 month. You lost your yearly profit!

Contact a local realtor that specializes in income properties. They are your best bet against making a bad real estate decision.
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0 votes 4 answers Share Flag
Sat Aug 10, 2013
James Young answered:
I grew up in "Bay Point" when it was still just West Pittsburg. Yes they are extremely overpriced,butthen again,so is EVERYWHERE in this area!!!!!!
0 votes 3 answers Share Flag
Sat Aug 10, 2013
Yoann Baral Baron answered:
Hi Kace,

You should talk to a mortgage specialist about it. Every situation is different unfortunately,

For investment properties, there are a lot of factors to consider:
-The property itself
-the amount of money you can put down
-your personal financial statement

...

Talking to a mortgage broker is usually free and with no obligations. Give it a try!

Good luck.
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0 votes 1 answer Share Flag
Tue Jul 30, 2013
Judy Masters answered:
Each home requires a unique look at the particular home. Location, location, location still remains one of the primary elements in valuing a property. The area of Levee Rd. in Bay Point would likely rent for less than a comparable home in Antioch. The issue with “Zestimates” is only raw data is considered and the analysis for the specific home is not fine-tuned. Currently prices have been rising due in part to many cash investors. The best way to get a true analysis is to hire an appraiser which could cost a few hundred dollars but for a free comparative market analysis your best support will come from an agent willing to do a free analysis. These still are ballpark until the agent has actually visited the home but should be closer than a “Zestimate.

Properties are currently experiencing a high demand and there is low inventory so the dynamics of “supply and demand” comes into play and prices rise.
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0 votes 3 answers Share Flag
Sun Jul 28, 2013
Jrgolfer123 asked:
We're looking for an investment rental property & wonder how far off are zestimates & eappraisal valuations? One property in Bay Point 436 Levee asks $195k but zestimate is…
0 votes 0 Answers Share Flag
Wed May 29, 2013
Gene Riemenschneider answered:
I deal almost exclusively with investors. There are lots of issues with real estate investing and there is no simple answer. Return on Investment is in generally declining. The more money down generally the better return. There are also opportunities to make money on appreciation, but that is more speculative.
If you e-mail me directly I will send you a free E-Book on Real Estate Investing. I will also send you some spreed sheets I use with other clients to evaluate homes for investing. It will give you an idea of some factors to consider.
Gene@HomePointRealEstate.com
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0 votes 3 answers Share Flag
Fri Feb 8, 2013
Bob Georgiou answered:
Returns are good place to start the other question to ask is what is your investment objective and timeframe? Cash flow? Total return? Flip? Long term rental.

An answer requires a knowledge of your cash position as well. Owning investment property is a commitment of cash and not as liquid as other formsof investment. The money will be tied up and if that money is needed in the intermediate term commissions and selling expenses are return killers.

Today it was announced that one third of our market is cash buyers looking to put cash in places that earn better returns than the one percent offered by the banks. Got Cash?
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Tue Jan 1, 2013
Mark Fleysher answered:
Agreed, interview multiple Realtors and work with a Knowledgeable and Skilled Buyer's Agent.
0 votes 3 answers Share Flag
Thu Sep 20, 2012
Neil Case answered:
Agent Jeri Mladnich,

Please show all of us these properties in Walnut Creek that are priced under $200k.
0 votes 4 answers Share Flag
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