Investment Properties at Wholesale Prices
We’re very excited to be adding our new class for this winter season. Be sure to sign up early and receive a discount. Simply enter discount code: Early25
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Seats are limited so REGISTER TODAY
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April Events
InvestClub for Women – Two Nights!! April 17th & 18th
This is one of my favorite investor meetings and I will be the guest speaker for both their meetings!!
Tuesday, April 17th – L.A. Meeting – Sportsmen’s Lodge @ 12825 Ventura Blvd, Studio City, CA 91604
Wednesday, April 18th – Orange County Meeting – South Coast Cultural Center @ 9 Truman, Irvine, CA
Both meetings are from 6:30pm to 9:30pm
Hope to see you there!
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May Events
May 5th – Cinco De Mayo
One Day Wholesaling Bootcamp! My popular class is back!! Make sure you sign up early and be prepared to learn and take MASSIVE action!
Click HERE for more information. Make 2012 your BEST year yet!
Some Investor Meetings for Tonight!
I’ve been getting a lot of calls and emails asking me if I know of any investor meetings in the area, and my answer was “Of Course!” I value all my connections I make at these meetings and I encourage everyone to go out and network. I would say most of my business and the success I’ve had has been through networking with like-minded people.
So if you’re serious about growing your business connections check out the following investor meetings:
Orange County: Investors Workshops – Featuring Mike Cantu as the Guest Speaker. I can’t say enough great things about Shawn Watkins and Mike. If you’re in the OC, be sure to stop by tonight at the Double Tree in Orange.
Los Angeles: For all you L.A. folk, there’s a place where you need to be to be: Sam’s Real Estate Club! I spoke there at the meeting last month and the connections I made there were incredible! Starts tonight at the Beverly Hills Country Club.
Happy Networking!
Atwater Village – Rehab Complete!
Wow, my team has really done an AMAZING job. In just 7 weeks they have absolutely transformed this Spanish classic house in Atwater Village.
For Sale: 3832 Edenhurst Ave, Atwater Village
We have spent nearly $100k in repairs! There were a few surprises along the way and we ended up gutting the house and garage and pretty much built a new house from scratch. This property has been given a new breath of life: new wood floors, new electrical, plumbing, insulation, waterproof stucco, deck, fence, gate, kitchen, bath…. too many things to name. You can check out the website to learn more: www.3832edenhurst.com
We are now offering this beautiful home for sale in Atwater Village. It’s located in a great neighborhood between Los Feliz Blvd and Glendale Blvd in Los Angeles.
We’re having a “Property Preview” this weekend October 1st & 2nd. Saturday 2pm – 6pm; Sunday 1pm – 5pm.
Hope to see you there!
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
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?
Inglewood CASH FLOW property – Hard Money Approved!
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.