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!
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!
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Here’s the link to Sign Up –> http://wholesalingrealestate-oct1.eventbrite.com
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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!
In celebration of my next upcoming wholesaling class, I’m posting a webinar I held a few weeks ago for my students. It’s completely free for you to watch, so enjoy!
Click here to start the webinar:Wholesaling Webinar
Feel free to leave a comment or question!
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!