Monday, October 31, 2011

Hard Money #22 Started

It took just about a week, but my funds from HML #17, which closed on the 21st, have found a new home.



Our best borrower picked up a triplex at a foreclosure auction. The property is in San Lorenzo, California and went at auction for $331,000. Our loan is for $210,000. The property square footage is about 2,600 although the MLS listing for it does not give a square footage.

As we did with the last property, we pulled comps using both residential and income property searches on the MLS. Income property comps show up at $315,000 for a 4-plex that is smaller than the subject property and another 4-plex listed at $725,000 but that's bigger than the subject property. There is a triplex that sold recently for $329,000 that was smaller.

On the residential comp list, we had about 12 properties, all that were smaller than the subject and all on smaller lots. Highest priced one sold for $335,000.

Based on rents of single family homes in the area, my partner estimates the monthly rental income to be about $1,200 per unit. (The subject property is really a single family house with a duplex in back.)

Our borrower estimates the property to be worth $500,000. I'm not sure how he gets a figure that high, but he knows the area better than me and comps are pretty hard to come by, as usual for triplexes. The property has tenants in place and they have indicated they want to stay. We have not seen the inside, so we don't know the condition. The roof appears to need some work. Our borrower has experience in the area - he actually rehabbed the property right next door, which is a 1,000 square foot SFH that he sold for $280,000 back in August. My partner was his lender on that project too (although I wasn't).

Our LTV based on the sales price is 63%. Should we have to take over the property, we'd get an income-producing property generating about $29,000 per year for $210,000. Not bad. Our loan terms are our standard - 12% interest only loan, 1 year term. And with this deal, all my funds are fully invested again!

Thursday, October 27, 2011

My Current Faves!

Warning... this will be a totally random post!
Things I love, The Crock Pot Ribs Turnout, Pumpkin Patches, etc

I like to occasionally do a list of some current things I'm obsessed with... and it's been a while! So here is what I've got for today... randomness at it's best ;)


I get borderline snobby about two things... shampoo/conditioner & mascara (3 things actually I guess, if you count hair stuff seperately ha).
Those are my two things that I try several different types of, but am super picky about!

My hair has been changing in a MAJOR way over the past year... it has always been super thick, and recently has been thinning and breaking off (so much so I even had to have Whit check my thyroid b/c I was so paranoid!). So I decided to switch up my shampoo/conditioner again and this time went with what trusty ol' Leigh Ann recommended... which were the Pink bottles of Kerastase from Voce. It has helped a LOT! My hair feels so much better and isn't feeling as thin as it was... getting back to normal I think! 
It's a little more pricey, but to me has been worth it. And it smells so good too!  



Now onto the mascara... I am a MAC Pro Lash for life kinda gal... but someone I know who works there told me I should try this False Lashes one... and I am really loving it! I still sometimes go over it with Pro Lash for a more dramatic look or if I want more on for night or something... but I will be using this from now on too! It goes on really good and is super lengthening! Glad I tried it! :)


Couldn't find OPI Black Cherry Chutney at my nail place :( BUT I thought this one looked close enough and got it, and love it! Very fall'ish/holiday'ish and I am really feelin' it! Although every time I get my nails done Chris always comments on how he likes the color ha (so sweet!) and he hasn't done that yet this time, LOL so maybe he isn't so sure about it??

 Speaking of MAC...

If you're not using this brow gel you should be. It's awesome. Period. Love it. Keeps your eyebrows in place really good and doesn't look all gel-y or anything.

My all time favorite lipgloss ... still use it every day... C-Thru. :)

On to more randomness...

Today we had an office meeting to work on our business plans for 2012 (which honestly kind of stressed me out because I hate making business plans!) but I learned about this book and went and picked it up this afternoon and can't wait to start reading it. Dave Ramsey is awesome we all know, but this book is geared towards people who are not employees, people who are their own boss and are self employed... like moi :) So I am happy to see what he has to say and pray I can put it to work in my own life.

Tuesday night for dinner we fixed the crock-pot ribs recipe from This Post...

And they turned out soooooo YUMMY! Chris was obsessed with them. Said he wants to have them again already ha. They were awesome. Fixed them with my Aunt Cathy's asparagus recipe :)

Another current fave of mine is the Pumpkin Patch :)
We actually went twice this past week... on Sunday we went to Boyd's Orchard with church, then on Monday, Chris and I went to Bi-Water for Ava's field trip! Here are some of the pics we got ...



We had such a fun day!
And somehow ended up with all this...

A whole wagon full of pumpkins, gourds, apple cider, rubber snakes for Jake, and some other goodies! :)

Ok Lastly... a couple lovely ladies had asked where my dress was from that I wore to Steph's reception...

I didn't get a full length pic but you can see it pretty good here...Chris took this on his phone so sorry for the brightness! The dress is Tibi and I actually got it at Saks last year on sale :( You might be able to find it online still though? It's real comfy that's why I liked it!

Well that's it for today!

Oh wait, I had a good quote to share too... I stole this from a co-worker's facebook page a couple weeks ago (Thanks Teresa! I am using this more often than I would like to hahaha)...Chris and I laughed when we read it because it is so true!

"Do not argue with an idiot.
They will drag you down to their level and beat you with experience every time."

Go ahead and steal that... :) I know you want to! I had one of those encounters today myself and repeated this 3 times under my breath! It worked, I think ;)

Well I am off to finish laundry, do some work on the computer, and clean up a little... really needing some sunshine tomorrow... this blah weather is making me sleepy! I was hoping to have another couple of warm, sunny days to do stuff outside and clean out my car :)

Have a great day tomorrow... TGIF!!

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Tuesday, October 25, 2011

Time for a blog on the shows...

I feel like I haven't talked anything about all my shows in forever!

So I thought this would be a good time to do so :)

WTH has happened to Teresa Guidice??

Every past season I liked her, I thought she was funny and a little crazy but still funny.
This season... my oh my what a different story! She is a lunatic! She thinks she does no wrong, she threw all her friends under the bus in her new cookbook, and she is clearly jealous of Melissa, I don't know why she won't just give it up. I think the relationship she wants/dreams about with her brother is freaky and weird ha. Am I alone on this? I feel bad for Caroline, she has treated her like absolute crap. I am so over Teresa!!!!

Another disappointment from the RHWBH...

I am kinda of annoyed with Kyle, which saddens me so much to say... :( Because I have always loved her and thought she was the most down to earth and is my fave of all the girls! But I feel like she is in denial about Kim her sister, and she is starting to make herself look stupid for covering up for Kim and falling into her little crazy games. She is clearly on something... drugs, pills, alcohol, whatever... she is not normal. And Kyle just makes excuses for her. I know it's her sister, but hells bells she needs help and Kyle needs to help her get a grip, not go to the bathroom with her 500 times hahahaha

Also for the Beverly Hills ladies... I'm so over Brandi!!

Ugh ok we ALL know your husband (who is ugly) left you for Lee Ann Rimes and you're a "single mom"... get over it!!!!! I'm so over the single mom excuse, move ON and get a life! She is ridiculous... and I feel like she is just trying to get attention by always saying negative things about herself... she needs some self esteem bless her heart. She just wants everyone to feel sorry for her and it drives me nuts. But her son peeing on the grass at the Maloof Residence was a little funny I will agree ha however, I do think she should have told her son that wasn't the proper thing to do ;)

Ok now onto this...

I don't know why but I am STILL a little obsessed with Sister Wives.
Something about them I just have to keep watching.
Cody Brown is a mystery to me.. what the heck is his occupation? Now he is "selling real estate" ??
I'm pretty sure selling real estate, in Las Vegas of all places ha, is not supporting 18 kids and 4 wives lol could be wrong, but pretty sure on that one.

My favorite... Rachel Zoe... i.e. I Die, Bananas, Dying, Something just happened here, etc. All my favorite sayings come from her... and just FYI if you don't own any of her clothes, you should, my two favorite faux fur vests for winter are from Rachel's QVC line and I love them :)

Now they are a sweet little family :)  So cute!

How beautiful was she preggo? She gained like 4 lbs. Lucky lady!

Lastly... I thought I would show you my new favorite show... and it's actually one Chris likes too for once

Anybody else watching the Good Wife? Love it. So good!!!!!!! You must watch an episode. You will become addicted!

Sadly enough, these are just a few of the ones that take up space on my DVR... I won't bore you with my absolute favorite show, that I have watched since I could even talk probably, which is the Young & the Restless hahahahaha still DVR it every day... you could miss a year of shows and tune back in and would know what is going on ha. Victor is still the culprit. Go Figure. Is there anyone on the planet, besides your grandmother maybe, that still watches this besides me? LOL

That's it friends :)
What shows are you watching that I am not and need to add to the list??

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Monday, October 24, 2011

Oh, How Pinteresting Monday, Etc.

Good news and bad news...

Good News First ... this is my 100th Blog Post!!! :) Isn't that crazy? Can't believe how much this little fun bloggy has changed my life, literally. It has brought me new friends, been a way for family and friends who don't live here to know what's going on with us, given me an outlet and way to relax and do something fun that I enjoy, and more importantly, given me a way to freeze tons of memories and pictures and events for years to come! I just love it!

Thank you to everyone who follows, reads, stalks, lol and comments! :) I enjoy reading everyone's emails and comments so much! I will get better at replying I promise!

Sometimes when I think about the fact that I know people who more than likely read my blog, that I really don't want knowing ANYTHING about my personal life, I get a little weirded out and think maybe I should give it a rest for a while and not post as personal of stuff on here. But then I just think that really I will take it with a grain of salt, and as a compliment ;) Because I've grown to love this little blog ha. And she is here to stay!

Bad news... I am getting sick :( blah! I can just feel it. My throat is killing, cold chills, body aches, just pure yuckness. Thus said, this Pinterest post is SO random... so be prepared!



This is too funny! Hahaha made me laugh outloud!

How presh is this clipboard? Love it, think I could possibly make it, it said most supplies were from Hobby Lobby! :)

Are you dying at this pic? The pearls, the outfit, the heels, the hair, its all bananas. I die. Love her :)

I love this baby room... for all my little preggo lady friends that could be having a girl, pin this!! :)

This is hard to see, but its a Bible, that has been very used as you can see haha.
Mine is similar but not as used as this one (I am ashamed to admit) but it is literally falling apart and I recently found out you can take your Bible to Lifeway Christian Bookstore (prob any Christian bookstore, I just happened to go there) and you can mail off your Bible and they will re-bind and cover it with leather for like $60. Bad thing is it can take up to 6 weeks, but I am totally doing this! :)

If you saw this youtube video, then I don't care who you are, this is funny!

Ok is this for real???
Would love it if it were!

This is a great idea... wish notes for a wedding reception but ordered and then broken up into puzzle pieces that afterwards you can put together and frame it :) So creative!

I am obsessed with layering socks under your boots, over your jeans!
This website was about cutting off the arms of old sweaters and using as under boot socks!

Liking this color, may try it tomorrow when I get my nails done.. very Fall'ish
OPI Black Cherry Chutney

Now for my favorite inspiriational words of the week :)

Love this! :)

LOL very true ;)

 I loved this... I feel like my group of best girlfriends are so busy now, having their own families and lives, and not making actual quality girl time!! (you know who you are if you're reading this and my friend haha and I know I am prob the worst lately but just sayin') But reading this made me feel better when I was discouraged thinking about all the girlfriend time we use to have!
I just loved this.  

Lastly, little known fact about Moi... I am OBSESSED with stockings at Christmas!
They are by far my favorite part... I would rather open a stocking than a present, and I LOVE watching Chris, the kids, Frankie (yes DUH Frankie has a stocking) and everyone else pull stuff out of their stockings too. I just like being creative with them and filling them with really fun, unexpected things! This website is super cute for stocking stuffer ideas... if you're not a stocking stuffer type person, maybe this will give you some ideas...You're welcome! :) Ha.

I'm kind of over Halloween already and ready to move on to Christmas! Reading all of these got me in the mood! Can't wait to start pulling out all of the stuff and decorating.. and celebrate Jesus's brithday :)
(NOT intended to sound like Melissa Gorga from RHWNJ hahahahahaha)

Happy Monday!
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Hard Money #21 Started, #17 Closed

Well, since the last loan fell through due to the property owner filing bankruptcy prior to the foreclosure auction, I had some funds available for a loan. Luckily, my partner found a good one fairly quickly.

This is an occupied duplex in Hayward, California. As it's occupied, we don't have any indication of the state of the interior, but the exterior looks to be in good shape and looks to be well maintained. The building is about 2,100 square feet and was built in 1957. It's got a 2 bed /1 bath unit and a 1/1 unit. The property was listed for sale back in 1999 for $280,000 but it did not sell. The comments in the listing indicate there is a studio behind the main building, so this might actually be a triplex. However, as we are unable to verify that, we are evaluating it as a duplex.



Rents total approximately $2,000 a month, although this is not confirmed. (Figure is based on the old MLS listing trying to sell the property in 1999.) The sell price at the auction was $233,000 - the opening bid price. Our mortgage is for $137,000. My partner pulled comps for both residential properties and income properties. Comps are a little spotty, as there are not many similar properties nearby. The city is average, but the property itself is close to Castro Valley, which is an above average city, so that will help the property value. Comps vary from $270,000 to $600,000, but there are none that are a good match. Our conservative estimate of value is $275,000, but my partner thinks that could be off by $50,000 in either direction. The buyer, our good customer again, thinks it's worth $325,000. Overall, this actually appears to be a safer investment then the one that was canceled last week.

Pros: Borrower is our good customer who typically pays early. He's got a well-established history of success and paying on time. He is personally guaranteeing the loan. Based on the sales price, our LTV is 58%. If we had to take over this property for non-payment, we'd get an income-producing property generating about $2,000 a month on a $137,000 investment. That's a pretty good worst-case scenario.

Cons: Our borrower is personally guaranteeing over 40 loans. It's unclear what the current leases are and what the interior condition is. Comps are hard to come by. If we had to foreclose, duplexes take longer to sell.No one else at the auction bid on this. Do they know something our buyer doesn't?

After going over the 10 pages of documentation my partner sent me, I decided to go ahead and invest in this one. This one I'm labeling hard money #21.

In other news, hard money loan #17 was paid off on Friday, so those funds are now looking for a new home. Back in May, when we made the loan, we estimated the after-repaired value of the property to be $195,000. The actual sales price was $210,000, so our estimate was pretty conservative. No problem with that, but I just like looking at how our estimate compares with the actual sales price. The borrower was a new customer for us and it's good to see he seems to know his stuff.


Sunday, October 23, 2011

Mr. & Mrs. Bristow

On Friday night we celebrated the marriage of one of my BFF's, Stephanie, and her husband Levi. They were married on a cruise last week and came back to throw down at home for everyone who didn't go on the cruise... and it was such a fun night!

First let's recap and look at a few of her amazing pictures from the actual wedding, taken by the pretty much famous, Alicia Fierro w/ Aesthetiica Photography! (Pics stolen from facebook ha hope that's ok Alicia!! You rocked it as usual girl!) PS. Go "Like" her facebook page if don't already... her pictures are so beautiful!





Those are just a few so far of the "teasers" from Alicia ;) Can't wait to see the ones from Friday night too!

She had a party/reception here at Buffalo Trace Distillery and it was so pretty! I forgot my dang camera but did get a few from my phone...

Mr. and Mrs. Bristow :)
So pretty! How beautiful was her dress??

Look at those pretty girls!

This shows Jake's only interest at dinner... haha the chocolate fountain and strawberrys/marshmellows! That face was only after the first one too ;) OOC

Stephanie sang Levi a song afterwards and it was so sweet and cute! I recorded some of it but was afraid she would be mad at me if I showed it on here haha... but she did an awesome job! He looked surprised too which was so cute!

One of the most fun parts of the night was the photo booth they rented... it was such a hit... with the kids and grown ups! Here are a few of the ones I brought home...

Chrissy, Steph & Me

I wish you could see this better.... the kids were so funny in the booth!! Jake especially.

LOL no words for these ha just so funny.

We had such a great time!
Congrats Steph & Levi! Love you guys both!!!!
XOXO,
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