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Westpark Loans
6789 Quail Hill Pkwy #146
Irvine, CA 92603
p: 844-574-LOAN (5626)
e: info@westparkloans.com

 

21 May How COVID-19 Has Affected the Real Estate Market in California

At the end of February 2020, life was mostly normal across the United States, including in California. While COVID-19 was spreading slowly across Europe and Asia, its presence in the U.S. was still largely unknown. Until it wasn't.   Today, the world is very different than it was a few months ago. All states have issued some form of stay-at-home order, although most states have now begun the process of reopening. The closure of essential businesses has resulted in a spiking unemployment rate and a lot of worried, anxious Americans. As a result, the real estate market has slowed down considerably –...

22 Apr Insurance Coverage Issues

Dan Harkey, at DanHarkey.com writes great articles about real estate on his website. You can read more articles by visiting his website. In this article, he discusses "Insurance Coverage Issues"   Here is the article in full: "Memo relating to recent closed transaction: While attempting to complete a loan transaction a borrower questioned why the lender required the property owner/borrower to obtain full replacement cost coverage on a rental dwelling, rather than a fractional amount that would save you money.   The property consists of land, physical structures, appurtenances such as fencing, patio covers, and garage.  While considering hazard insurance it is understood that the land...

09 Apr Proper Entity Structure to Purchase Investment Property

Home purchases for personal use are usually made in the name of the buyer. However, purchasing property for investment purposes may be better served using an alternative avenue.   In California, entities can purchase properties in a similar manner to a standard individual acquisition. Purchasing through an entity can potentially shield the buyer from implications in the future, like a tenant lawsuit, and alter the applicable tax structure – a large benefit for investors. As such, many savvy investors choose to create a legal entity with which to purchase property. This article serves as an overview of the available legal entities that...

25 Feb The Phases of a Foreclosure

No one wants to have to face a foreclosure, but it's an element of the real estate world. From a job loss, to a divorce that interferes with finances, foreclosure happens to hundreds of thousands of houses in the United States per year.   The concept of losing your house to bank can seem scary and overwhelming, but when reality comes to call, it's best to be prepared. This is what you need to know about foreclosure, including how to bounce back at the end of the process and secure a loan in the future.   What Is Foreclosure? Foreclosure is the process of forfeiting...

20 Feb Are Your Checking and Savings Deposits Safe?

Dan Harkey, at DanHarkey.com writes great articles about everything related to real estate on his website. You can read more articles by visiting his website. In this article, he asks the question: "Are Your Checking and Savings Deposits Safe?"   Here is the article in full:   "Most folks are under the assumption that federally chartered and federally insured banking institutions were established to collect deposits from the public and make loans to credit worthy consumers (borrowers) as a primary driver to grow the U.S. economy. This pattern was depicted in the 1946 movie “It’s a Wonderful Life.” James Stewart starred as George Bailey,...

23 Jan Should You Purchase All or a Fractional Portion of a Trust Deed Investment?

Dan Harkey, at DanHarkey.com writes great articles about real estate on his website. You can read more articles by visiting his website. In this article, he asks the question: "Should You Purchase All or a Fractional Portion of a Trust Deed Investment?"   Here is the article in full: "The purpose and motivation of investing in trust deeds include the desire to place one’s investable capital into a vehicle that yields greater than other traditional investments that have equal or lesser risk. Annualized yield, monthly payments, diversification, preservation of capital and return of capital at maturity serve as the comparison characteristics.   Investor(s) may purchase...

21 Jan A Beginner’s Guide to Trust Deed Investing

Property investing comes in many shapes and sizes. Most investors stick to purchasing properties either to rent to tenants or to fix and flip to sell for a profit. However, these are not the only potentially beneficial options available for those who want to diversify their real estate portfolio.   Trust deed investing is an alternative to standard investing that can offer extensive advantages to investors. This avenue is not widely utilized and is unknown even to many seasoned property investment experts. While not the right fit for everyone, those interested in taking the next step may find trust deed investing to...

19 Dec How to Estimate the Cost of Repairs Like a Professional

As both landlords and fix and flip investors know, most real estate investments require repairs to some extent. From smaller updates, like new carpeting to complete renovations of entire rooms, very few properties require upgrades of some sort. In fact, the whole premise of a fix and flip is, as the name implies, making major fixes to improve the nature of a property.   In order to properly evaluate the value of a property at the time of viewing, understanding the costs of repairs is absolutely essential. Without a proper understanding of how to gauge repair costs, it's virtually impossible to determine...

14 Nov Why You Should Invest in Single-Family Properties

Real estate investment properties come in all shapes and sizes. Some investors prefer commercial properties, others like multi-family homes, and others prefer apartment buildings. However, as many experienced investors know, the best opportunities for protection and profit can often be found in single-family properties.   The most common form of easily purchasable property nationwide, single-family homes serve homeowners from coast to coast. Another term for a home that houses a single family – unlike something like a duplex or an apartment building that can house many households simultaneously – that is often freestanding, most residential properties throughout the country are single-family homes....

14 Oct Guide to Selling a Home in a Slow(er) Market

Real estate investing brings great opportunity. The opportunity to generate ongoing income, whether in the form of a rental property or a series of fix and flips, is very enticing, particularly as this kind of venture also helps to build financial stability for the future.   However, success in real estate investing is less challenging in a market that is going up. When buyers are eager for a home that's ready to live in, they're willing to pay top dollar – unless the market takes a dip and plenty of properties are available with similar features at a far more reasonable price...