All Forum Posts by: Amar Woods

@Charity Skore awesome I’ll connect with you to see what we can do. Thank for taking the time.

@Joe Homs I’m aware that they are not necessary but I would like the peace of mind when dealing with long term and obscure transactions. That said Mr. Homs if you have an awesome title/ecrow company to recommend please do.

Hello my name is Amar Woods, an aspiring REI out of Orange County California. I'm a student of Ron Legrand's brand of real estate investment strategy that lends itself to moderate to complex transaction types such as; wrap loans, subject-to purchases, option leases, and contract for deed. I am in search of a lawyer that is familiar with the instruments I've mentioned previously and can serve as my closing attorney on such deals. BP if you can throw me a bone, thanks in advance.

Originally posted by @Nick Rutkowski:

@Amar Woods

What banks have you talked to already?

Just started my search but as BRRRR is going to be my secondary investment/exit strategy in the beginning I haven't looked at many. But so far American Continental Bank, American Plus Bank, Wells Fargo and Banc of California(my wife works here). All except American Plus Bank had products/services that wouldn't fit me currently. American Plus Bank provides immediate cash outs which is awesome, but I would like to have at least 3 such banks to cover any unexpectedly situations that would affect my business activities.

I'm currently planning on launching my real estate investment company in January and I'm basically getting my ducks in a row. I'll be entering a couple markets in California using the wholesaling/BRRRR strategies driven by an aggressive marketing/branding push. To facilitate the BRRRR side of the business I'm looking for a Californian or out-of-state bank that will allow a cash out refinance immediately after a property is rehabbed with a tenant in residence or within 4 months after. If anyone has a line on a bank/lender that will service such loans that information would be much appreciated or any tips on how to efficiently locate these types of banks that would be great. Thanks in advance BP community.

Originally posted by @Carlos Altamirano:

Hello @Michael Gainer

Great question. I just closed on a duplex in Indiana that I assigned from the comfort of my home here in Orange, CA. Escrow wired me my assignment fee, but sometimes I like to see the checks and have them mail them out to my PO Box. I consistently do 1-3 deals a month, and getting much better at it.  You can wholesale deals anywhere in the Nation. All you need is a deal source, some good and strong buyers, and ability to talk and earn a sellers trust, and a tenacious work ethic and WIFi of course. Maybe a faster computer. good luck

-Carlos

This is encouraging because this is exactly what I plan to do hopefully, sit on my patio in Tustin, CA and work my way towards replacing my 9 to 5. Any good suggestions for tech to make things more efficient, i.e. apps or programs.

I'm looking to enter wholesaling industry in Orange County ,CA. And this is a topic I'm thoroughly interested in, because I want to approach this apparently touchy subject as directly as possible. @Dennis and @Amy Aziz have similar ways of approaching their disclosures in good faith. My question is there just a negative view of wholesalers period or can it be done with integrity?

I appreciate the encouragement guys, I know California will be a challenge and I'm looking forward to it with relish. But I won't be captive here for long I'm betting, after I get maybe 10 wholesale deals and say 4 BRRR deals under my belt I'll be trying to expand my ambitions domestically.

Hello BP my name is Amar Woods and I've been researching real estate hard (i.e. YouTube videos, books, everything Bigger Pockets(books, webinars, forum, podcasts, etc...) it took some time to convince the wife but I I'm ready to get in the game. I'm a stock trader out of Orange County, CA by trade but after 13 years or so in the financial sector I'm plotting my escape. Mind you I'm realistic about real estate investing and know I might yet be in my current gig for a few more years while I ramp up; my knowledge, my network and my capital but I'm committed for the long haul.

My initial foray will be into the more affordable markets in California(if there are any) as a wholesaler. Even though many people online have said being a wholesaler is a great way to dip you toe into real estate, am I under no illusions that it will be easy. But for me becoming a wholesaler seems to get to the heart of the real estate investment game. From what I gather "deal flow" is the life blood of any successful real estate venture and wholesalers are on the frontline of finding and creating deals. They market to scare up leads, they negotiate with both buyers and sellers, they utilize contractors and inspectors during due diligence, and they build networks to support their endeavors.

I personally want to progress as organically through real estate as possible from wholesaling to buying(or developing) multi unit commercial properties. That said I want to be aggressive and as I bring in deals with my marketing efforts I'll need partners/mentors to guide me through the process. And of course I won't expect the education for free or without effort and would be more than happy to split deals.

I loved this community before I joined it and am eager to learn and contribute in equal parts. Everyone have a great weekend, cheers!!.

Amar Woods

Thanks for the clarification, I'm a stock trader so I versed in a lot of different investment vehicles but to hard assets like real estate I'm a newcomer. Other than buying my home in Orange County almost two years ago. Cheers.