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
Upcoming Wholesaling Class – October 1st
We are gearing up to give you a great day of learning real estate! If you haven’t already done so, sign up for the Wholesaling Bootcamp scheduled for this Saturday October 1st.
We have a whole day of great information on how to find sellers, buyers, analyze properties, and have 2 special guests: (1) Angella Raisian will be showing us how to use social media to increase our buyer and seller leads, (2) Robert Fragoso of Anchor Loans will be teaching us how to rehab the properties we want to keep. He rehabs 500 a year so he’s definitely one to listen to!
**********************************************************************
Here’s the link to Sign Up –> http://wholesalingrealestate-oct1.eventbrite.com
**********************************************************************
Don’t miss out on this opportunity to learn from REAL real estate investors. We won’t be having another class for a long while so sign up and get started in real estate before the year is out.
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
I’ve been invited to speak at Rosie Nieto’s club tomorrow night, August 11th in Culver City.
Here’s the link for more information –> Meeting Information
I’ll be speaking out how anyone can go out and snag a great deal in this market! All you need to do is look — and I’ll show you where!
Hope to see you there!
Well folks, it’s less than 2 weeks until the next wholesaling bootcamp! I’m very excited to share all the great strategies that are working in today’s market. My team and I are in the trenches everyday and know what’s working and not working. The market is changing and it’s important that you change along with it.
This class is great for those beginners who want to get into real estate and for seasoned rehabbers who want to get better at finding deals. Not to mention all the great networking and team building that will happen at the event.
So I hope you’ll join us on April 9th! Check out the video below for a video I made about the topics and guest speakers we’ll have during the wholesaling class.
Register TODAY –> http://wholesalingseminar-april2011.eventbrite.com
Thursday Wholesale Webinar: 6:30pm
Learn to wholesale real estate the RIGHT way! Tonight I will teach you how to get started finding and negotiating real estate deals right away.
I will also show you how to work with my company and leverage the systems I already have in place.
REGISTER HERE: https://www3.gotomeeting.com/register/404823294
My First L.A. Rehab Story…
Well folks my first hands-on Los Angeles rehab is finally complete and ready to close escrow in 8 days! It’s been a long, challenging few months, but it has also been a tremendous – and PROFITABLE- learning experience! I definitely took on a big project that would scare a lot of seasoned investors, but I’m fearless like that! Actually it was the solid numbers and great neighborhood that made it easy for me to decide to do this project. Not to mention my pleasure in seeing a house that was about to be condemned by the city transform into a house so pretty that the buyers want to hold their wedding there!
Before Rehab
After Rehab
This property had great potential structurally and profit wise. WARNING: You are about to see some serious bragging: A wholesaler we found through craigslist brought this property to our attention. This property was about to be demolished by the city and a $40,000 lien put against it. The seller had inherited the property from her aunt and didn’t want to deal with this. The wholesaler was selling this to us for $165,000, but after looking at the condition of the property we negotiated it down to $110,000, which included a $20,000 wholesale fee. At that time the comparable sales were about $400,000 and we estimated repairs at $85,000. The final numbers: repairs were $150,000 and final sale price $515,000. So what could have been a serious drop in our profit was more than cushioned by the recent “bubble” in the neighborhood. All the partners involved in this project are happy with the outcome and are ready to do some more!
I’ve been asked what lessons I’ve learned from this project. There are so many so I may just create another post about that; however, my biggest lesson was to ALWAYS work by the numbers and not the emotion of the project. Even if we had sold at our original $400,000 estimate we still would have made a nice profit anyway.
How about you? What has been some of your recent accomplishments and/or lessons learned from real estate?
Los Angeles Rehab is Looking Great!
Los Angeles Views Through New Double Doors
We are moving very quickly with our rehab project in the Cypress Park/Mt. Washington area. Located at the top of the hill we have spectacular views all around!
This is just an example of one of the rehabs we’re currently working on in the Southern California market. We are actively looking for some more properties to rehab and/or wholesale to our many cash buyers.
Our money partners on this deal are also very excited about the progress we’re making (not to mention the great returns on their money!). In today’s market, why keep your cash in a bank CD or Money Market account when you can easily earn 3-4 times that investing with a company like ours?
I’ll keep posting pictures on our progress. If you’re interested in being on our buyer waiting list for this property when it’s completed please send me an email at support@ocwholesalers.com. This property is going to have all the bells and whistles–including a large deck to take advantage of the amazing views.
**Get Started with No Cash or Credit**
How would you like to make $3,000 – $5,000 in the next week? What can you do with this extra cash? Can you pay off some bills? Go on vacation? Help friends and family?
At the workshop you will learn the 5 steps to wholesale a property and get paid quickly!
Real Estate Summer Classes Are In Session!
This summer I will be teaching and speaking at a variety of events. If you have always wanted to learn about real estate investing the correct way then come hear me teach you how you can get into this business today!
I will be showing you how to get great deals with no money out of your pocket and no credit. At each event you will walk away with enough knowledge of how to find motivated sellers, how to get the property under contract, and how to sell it for a quick profit. I’ll also show you how to negotiate fairly and ethically with sellers and buyers so that you can make sure everyone in the transaction wins.
I will be speaking at these events:
I will also be announcing my upcoming 1-day bootcamps at these events so make sure you attend to get the details. Be sure to bring your business cards because you will be networking and making those connections that are so important to your business.
Hope to see you there!
Of course you’ve read the headlines saying that not getting enough care about health may augment your risk of myriad health woes. For example Symbicort is used to treat asthma attacks. This curing works by relaxing muscles in the airways to correct breathing. Let’s talk about various remedies. A lot of young men think about “non prescription viagra“. Where you can get detail data about “viagra without prescriptions“? Don’t forget, think about “buy viagra without prescription“. Having impotence can undoubtedly complicate dating. If you have disappointment getting an hard-on, it’s vital to visit a competent health care provider before pursuing any sort of medications. With well-thought-of source you get offers, that can also be redeemed at your local pharmacy with a valid prescription for any generic.