All Forum Posts by: Andy Cross

Hey Walter Roby jr ... My focus is in the AV. And yes...I feel palmdale/Lancaster is a great area to fix and flip, as well as wholesale. My last wholesale deal was in East Palmdale. It was a $10k profit for me, and maybe about a $75-95k profit for my buyer at the end. The market is turning around out there...very quickly. So, now would be the time to focus efforts, before they jump back up to what it was. If you have more questions, let’s connect. I grew up out there. (Well....I spent jr high and high school out there)

@Shawn Ward  Thank you so much for the invite to the open house/cocktail party. The house is amazing, and I'm borderline jealous! HAHA, an Awesome job you and Zerik did. I can't wait to see the next one, man!

@Shawn Ward , thanks again for inviting me to the flip. That bad boy is going to be bananas! Can't wait for the opening, bro!

AWESOME THREAD!

Newbie investor here. But not new to "Project Management Methodologies"

@Mike Garrett , I completely agree with everything you mentioned. Especially the part about understanding the division of expertise between Project Managers and Construction Managers.

In my 9-5 advertising job, that would be equivalent to the division of expertise between a Project Manager and Broadcast Producer. The PM will always maintain the 3 constraints. However, it's the Producers responsibility to manage the technical aspects of pulling the project together within those 3.

Hey @James Lee, 

When I closed my wholesale deal, the buyer paid all the closing costs; which is usually typical. Typically this is factored into your offer to your seller and is a non-issue for your buyer.

Interesting indeed, @Scott T.

I heard you say someone you know leaves offers in a priority envelope at the doorsteps of pre-foreclosures. Can we dig into that a little deeper (for those that aren’t crystal clear on this tactic)? Are you saying there’s a written offer (or maybe some sort of letter of intent), with actual numbers, to buy someone’s home in this envelope? In your opinion, are there any drawbacks to doing this?

Hey Jonathan Yip , I can only speak for The AV; as that is my target area. It seems to be picking up a little bit. I’m noticing sales prices jump quite a bit in the last year. A deal I wholesaled just resold for $30k more than I expected. Unfortunate for me, I’m not getting much lead flow from that area; as much as I mail to that area. But someone is snatching up properties out there.

Hey!! Andy here! I’m in the LA Area, focused on south LA, Inglewood and the AV. Let me know how those signs do. I’m debating if I should try it with my last dime. But not sure since the market is saturated here in LA.

Hey Marvin Todd , welcome to BP! I market out that way, and I grew up there. Can't say I'd live there again, but I do see things turning out there. I closed a smoking wholesale deal; and my buyer just sold the flip a few months ago. If there's ever a Meetup out there on the weekend I'll sure come to it. Take care and welcome again to BP!

Hi Julia Franklin , Two questions for you...and I ask this of all lenders that have good deals going on SoCal. Would you lend at 100% to new investors? If not, what does that % drop to, and is that against ARV or purchase price? Thanks