All Forum Posts by: Andrew Bassuk

thanks Cornelius. I'd really love to have those lender names. Where are you based and what is your RE Niche?

Thanks

Andrew

Thanks Patrick,

I just looked at propertyradar.  Looks very interesting.  Have you used them and do you find that they have extensive or limited records and coverage?

Thanks

Andrew

Where is the best place to find lists of potential sellers who: 1. Live out of county 2. Are behind on their mortgages 3. Are behind on their taxes 4. What other list categories are useful When I go on my county's assessor site, addresses are listed but not owner names - names may be available if I go in to their office. They do sell lists but I'm not sure what info they are willing able to provide. What have others found most useful. I live in Ventura county, CA. I'm interested in preforeclosures, deals for flipping and deals for wholesaling. Thanks Andrew

You could also structure the deal so that the sale is contingent on your inspections. That way you tie it up and don't lose the deal but if the mold ends up being too costly you can back out. Make sure any deposits go into escrow and are not held by the seller.

I have invested in RE for many years but now want to learn how to flip houses in my local market -  Ventura County, CA.

My question is will hard money or private lenders loan the full purchase and rehab costs on solid, viable deals or are they looking for investors to come in with a percentage so that investors have some skin in the game?  If they want investor $$, typically what percentage are they comfortable with?

Thanks

Andrew

Thank You Mathew.

That's helpful.  Another question for you since you are a lender here in SoCal.  If an investor brings a viable deal to a hard money or private money lender in this region, what are lenders willing to lend?  Are they willing to lend purchase and rehab costs in full, or are they expecting the investor to come in with a percentage of purchase and/or rehab costs?  If investor money is required, what percentage would be expected?  I realize this is a broad question but I'm trying to understand what is common practice in the region and what to expect when I find strong, viable deals.

Many thanks

Andrew

Greeting all. I'm new to BP. I did really well investing in a few multi unit props in the LA area in the late 90s. Now I'm back wanting to rehab and flip and maybe some wholesaling. I'm doing lots of research to learn the ropes. If there are any locals in the Ventura county area that would like to chat, meet for lunch and possibly network or do some mentoring drop me a note. Thank Andrew

Great respons Jeff.  Many thanks. I invested in multi fam units a decade ago and am now reentering the market wanting to rehab and flip. I noticed that you are listed on BG as a lender can you message me and tell me more about that?

Thanks

Andrew

Thanks. You've both confirmed my hunches.

Hi. I'm new on the forum and have a ?? The flipping rule of thumb of 65% ARV minus repair costs makes sense in markets where houses are affordable. I'm wondering if it needs to be modified in southern CA. If I could buy a house with and ARV of $500k for $400k that had $10k of repairs that leaves $90k to cover holding and sales costs and leaves room for a reasonable profit. Do most investors in high $$ markets modify the 65% rule and will hard money lenders go along with deals that might be 75% but have a good profit potential? Thanks Andrew