Investment Properties at Wholesale Prices
Before
My Atwater Village property is sold! I’ve learned some great lessons on this property. Most of all I’m very proud of our team who restored this beautiful Spanish style house for the lovely family who moved in.
We’re looking for our next rehab project so if you have a property to sell or would like to partner with us let me know!
As rehabbers we understand what you need, so you can be sure when we have our “wholesaler” hat on we are creating deals with you in mind!
After
New Rehab Property in Atwater Village!
Well we picked up another great property to rehab! We’re super excited to bring this property to life.
This property was listed on the MLS and brought to my attention by my great agent. I turns out that someone way out in Tampa, FL had negotiated with the bankruptcy court and lender to release this property for sale. He then listed the property for sale once he got his approval.
This property is in horrible condition: rats, huge roaches, piles and piles AND PILES of junk inside and out. We’ve been working on the property for a week now and we’ve cleaned out everything and have finished all the demolition. Now the fun part starts!
For all you numbers people, here’s the breakdown:
Purchase Price: $350,000 | Repairs: $69k | After Repair Value: $560k
We borrowed 65% ARV hard money (3.5 points, 12.5% interest) and used a private money partner to bring in the down payment and rehab money. My private money partners have invested with me before so they were happy to do another rehab with me! 🙂 They get to earn a super return on their money, while both of them are working in other jobs full time.
I’ll keep posting pictures as we go along!
Next property flip
Costa Mesa Rehab!
Costa Mesa Wholesale Rehab
We’re looking for back up offers on this wholesale deal! Looks like the buyer may not be able to close on time. We need to close by FEBRUARY 8th, so cash buyers only!
Quick run down: Purchase Price: $494,000 | After Repair Value: $900ks | Repair Estimate: $160k
For more information sign up to receive property alerts (Box on the left) and you’ll be directed to our deal page.
or just contact us!
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Hi, I hope you had a great Labor Day weekend!
During the bootcamp you will get hands on training. Before you arrive, I will give you an assignment to do before you even get to the bootcamp. Nothing too hard, but it will definitely get you on the right track to bring in some cash this month.
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Last week local California real estate investing expert was featured on ABC News. I really appreciate his professionalism and his dedication to educating the public about what real estate investors do. Check it out:
Enjoy! Now go out and buy some properties!
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Wow, there’s no place like home. I just got back from a trip to Orlando, FL where it was freezing 2 weeks ago. I then headed out to the Bahamas thinking I was going to go thaw out there, but it was a little cold there too! Even though it’s raining today, it’s still a lot warmer here than in other parts of the country.
Can’t beat the great Southern California landscape with mountains on one side and great beaches to the other.
Great weather (even today), great scenery, great food and people–who wouldn’t want to live here? And to top everything off it looks like it’s becoming affordable to own a piece of the California dream!
If you have ever thought of investing in real estate, now is THE time to start buying property! Whether your strategy is to rehab, or to hold long term as a rental property, housing prices are definitely shifting to a place where anyone with a little know-how can buy discounted properties.
The real estate market is still changing everyday, so you’ll need to be on your toes and make sure you buy your investment properties right. I’ll give you some examples of ways to analyze your numbers to make sure you don’t get stuck with an unwanted property:
1) Fix and Flip Strategy. You’ll want plenty of equity in your deals to make sure you’ll have enough profit at the end. It can generally take anywhere from a couple of weeks to a few months to fix a property well enough to retail, so you’ll want plenty of room if the market goes down some more while you’re fixing the property.
You’ll also want to have lots of equity so that you can qualify for private money loans. Most investors use hard money loans to buy and fix their investment properties. The rule of thumb is you’ll want to have a purchase price of at least 65% of the After Repair Value (ARV) since most hard money lenders will lend at this ratio. If you want your hard money people to lend on repair costs, you’ll need to buy below 65% ARV.
2) I want to be a Landlord strategy. I never thought I’d see this day: Southern California homes are starting to CA$H FLOW! Woo-hoo! Many people have anxiously been waiting for this. If you’re going to hold these investment properties long term, then you’ll definitely need to make sure that they provide positive cash flow. One way to determine this is to use the 1% rule of thumb. Here’s an example:
If the rents for a 3 bedroom, 2 bath home in your area grosses $2,000/month, you’ll want to pay–at most–$200,000.
These tips will guide you through all the great real estate investing opportunities that you’ll see in the next couple of years.
This may be the next California Gold Rush. Don’t miss out!
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