Newbie from Bay Area California by way of NOLA

[Randy C.]

Hi, My name is Randy.
And I'm very impressed with the amount of knowledge and help you guys are sharing on this forum. I wish I had found BP years ago.

My deals so far include purchasing two rental properties (2004 and 2006), one vacant lot (2006) and three properties at tax lien sales (2008). All deals have been in New Orleans. I live in the Bay Area and have not done any deals here because I a) didn't know anything about making a profit from structuring quick-turn deals, and b) believed that since I didn't have big wads of cash, I couldn't play here.

I'm learning that I was wrong on both counts. So now, I'm reading as much as I can on prospecting for and doing short sales (suggestions on best books/sites please). I'd like to find, negotiate and wholesale them. I'm starting with one of the tax lien properties I have. Bank wants to redeem it so I'm negotiating to buy it; but I'd have to quick-turn it. I'd welcome any and all comments to this plan.

I've also partnered with a high volume, attorney backed financial wellness company that does loan mods here (among other things) in hopes that it would help me find short sale leads.

Goal is to amass a portfolio of residential multi-unit and small commercial properties delivering at least 150K free cash flow with little debt by 2014.

thanks for reading about me.