Tuesday, December 15, 2015

Loans for Investment Properties

There are many restrictions to financing a rental property - including the following:

Having more than 4 mortgages or more than 10 mortgages
Cash out over 4 mortgages
Cash out over 10 mortgages has a different level of restrictions
Purchasing an investment home over 4 mortgages affects amount of down payment
Loans over the conforming rate limit $417,000 or $625,500 in certain areas of California
Residential / commercial mixed use properties
Properties with 5+ residential units
Rental condos in buildings with a high renter ratio
Down payments fluctuate depending on all of the above scenarios.
FICO levels affect all of the above in cost and rate.

For help understanding the best financing available for your currnet home or investement proprty, please give me a call.

Mario Pinedo
Banc of California
Cell 415-269-6249
Office 949-381-2901
NMLS 1029116

Tuesday, January 20, 2015

Coming Soon: Cupertino Office Condo For Sale

We are putting a commercial office condo on the market this week in Cupertino. Approximate details: 1,700 square feet, 10 years old, two story unit with interior staircase, Monta Vista area of Cupertino. Offered at $735,000.  For more details please call me direct at 415-269-6249.

Monday, January 12, 2015

Expensive Apartment Investment Market in West Valley

It's amazing how expensive the apartment investment market has become in West Santa Clara County. As of today on the MLS, between Los Gatos, West San Jose, Campbell, Saratoga, Cupertino, Santa Clara and Mountain View, there are only two available four unit buildings for sale. One is in premier down town Los Gatos - but priced at approximately $891 per foot (that's rich) and the other is on Temple near Almaden Expressway and Blossom Hill - a fourplex listed for $1,250,000 (that's rich too). There are 10 buildings in escrow in those same areas from 3 units to 22. So basically, whatever hits the market generates an acceptable offer quickly.

It's definitely a good time to sell to maximize value!

Now we should talk about where to buy an apartment building investment property. I have a few suggestions.

There are other parts of California to consider (LA County, Orange County, San Diego County) that have high occupancy rates, good economics and increasing rental rates at far lower costs to acquire. Example: for $799000 you can easily acquire a four unit building in Orange County, Consider 3,100 square feet on a 9,500 sq lot with $57,600 in current rents.

Remember Southwest Airlines costs $72 per leg if you book in advance! Let me know if you want to review some real time examples.