All Forum Posts by: Andy Cross

Hello fellow RE Investors!

My name is Andy Cross and I'm located just outside of LA in an area called Palmdale, CA. (and I use the words "just outside" extremely loose) I am a newbie investor primarily in the Metro LA, Antelope Valley, San Fernando Valley and Santa Clarita Valley. I joined the investor clan after leaving a stressed out life in advertising/marking over 15 years. I still work freelance to pay the bills; as I'm still in the process of trying to land my first deal.

Starting out, I'm looking to wholesale contracts; just to build enough capital to be able to buy and flip. Buying and flipping is where my passion lies right now. Knowing what I know now, I realize those flipping shows on TV are a bunch of BULL. The only ones I like is "Flip or Flop" and "Flipping the Heartland," because they always add in closing costs to their calculations at the end. The rest don't - which I feel give people who aren't in the know the illusion that they are making a boatload of money, when they really aren't.

Over the last 4 months, I've tried many avenues to get deals; NOD, NTS, small direct mail, Driving for Dollars, and cold calls. I refuse to door-knock...I think it's dangerous and I feel the follow-up is a waste of time and gas. I've gotten a couple of phone calls from Driving for Dollars...but no deals made. Those vacant homeowners weren't motivated. But I do plan to follow up.

I'm here to network, and pick the brains of you seasoned investors. I'd also like to make connections with cash buyers; as I build my wholesaling business, I want to be able to shoot them over to you all.

All the best everyone...and I'll see you on the discussion boards.

I haven't done a wholesale deal, but I'd say no, I'm not particularly accounting for those expenses. Most of my cash buyers are looking for deals at 70% of ARV minus repairs. Now, when I'm making offers I make sure my fee is accounted, while at the same time being fair to the seller. Most savvy cash buyers are accounting for all their fees when contracts come to them; it's not for me to figure out for them. IMO

Can't say that BP has helps me make any money. There must be something you all are doing that I'm not. More networking, perhaps? I'm certainly not getting deals on my own, that's for sure.

To answer your question, is it fraud? No, I dont think so...as their ARV is their opinion...and not fact with a guarantee. IMO if an agent grossly inflated the ARV knowing good and darn well that it wouldn't sell for that much, its their loss as much as yours. I don't know, maybe they are inexperienced in your market.

- Newbie Investor