Don´t tell me NO, tell me HOW! (help me think outside the box)

[Viviana Ramirez]

Hi BP members!

I am very grateful that I have found this site; during the last six months, I have been educating myself listening to the Podscast (at least two a day), I´ve been reading your blogs, discussions, and the recommended books etc. Im dedicating my time, energy and soul to learn as much as possible from you guys.

I'm a serial entrepreneur from Colombia and recently moved to LA (Santa Monica). I have rental income properties in Colombia and (long story short) I've decided to choose the path of real estate investment as my jcareer here in the US, my new home.

This is my current situation:

1. I have 200K cash

2. I just got my CA real estate licence :)

2. I have time 

3. Access to credit (traditional loans) given my husband's excellent credit score and fixed income.

4. I am a fast learner, hard worker and a hustler.

5. I speak Spanish and English (I believe this is an advantage)

I would love to invest (especially flip/rehab) here in Southern California, but I am getting tired of people telling me that is IMPOSSIBLE to start investing here, IMPOSSIBLE to cash flow positive, IMPOSSIBLE to rehab if I dont have at least 1,000,000 cash in my pocket.

I even attended yesterdays Webinar "How to find Incredible deals" and discussed it with an experienced Flipper this morning. The flipper said that none of that applies in this SoCal market, and that it is basically impossible to find good deals. Moreover, even if I do, contractors are charging crazy prices. and I can't compete with cash buyers.

Is it really like this? What would you do in my place with 200K Cash to work with? I really want to do this for a living as a full time job. 

Ideas?

[Manolo D.]

Viviana Ramirez whoever is telling you that is plain NUTS!!! If they tell that to my face I will challenge them, for every statement you say no, I will give you a name that has been doing it and pay me 1k, if I can't, i'll pay up 2k. Impossible is a big word, it's impossible to tell if it is really impossible to do a certain thing when you don't know everything. That said, 200k + > 700credit + 70k+/yr income = no brainer for a lender to give you a shot. Here is your initial list, Chris Mason Logan Allec . It is impossible well ok, improbable for you not to be qualified for a flip. Quick note: trash all the rules that you've been taught, it does not apply, but change your figures to Offer = ARV - 8-10% ARV - Rehab Cost - Profit. Most investors in CA plug in 40-70k profit for a sub 700k house, the presumption is it will be hard money, in a 6-month turn-around. I like "serial" entrepreneur. lol. Good luck on your journey.