All Forum Posts by: Angel Perez

Michael Galloway I guess that's a good way to look at it. Thanks.

Hello everyone,

My name is Angel and I am from Torrance, CA. I am actually not new to the site as I was on here about 4-5 years ago (before the redesign of the website) but I lost all my user info, changed my email address, etc, etc.

A little background. When I was here before I use to wholesale primarily although I did rehab a few properties. I sat out for a while and kind of strayed a bit from real estate these last 4 years but am now ready to jump back in. I am looking for properties to rehab so if you're a wholesaler in the So. Cal. area send me a message.

Looking forward to a prosperous 2013 and putting some deals together!

You could also look into an equity share agreement with an investor. The numbers would have to be right and it would probably take some work to find "the right property" but it's definitely not completely out of this world. Good Luck!

Without knowing all the factors involved and your exact situation I would say to take out a HELOC as mentioned above. However, I would further advice to take out an amount that would result in a payment which does not exceed the amount of rent that is generated from the rental property. That way you know that you have a means to pay for the loan while you have equity funds tied up in an investment.

If it turns out that the amount of the HELOC isn't as high as you would have liked it to be that's ok. You can always use hard money or bring in a cash partner to make up the difference. It's not very difficult to do once you have a solid investment into the deal.

Good Luck!

I didn't read all the responses and this may have already been said. If so I apologize for the duplicate reply.

From my experience its all about the deal. It doesn't matter if you have 1 buyer or 100 if the deal doesn't make sense you will not be able to wholesale it to anyone.

If, on the other hand, you negotiated a "no brainer" you shouldn't have any problems finding someone to wholesale to. Furthermore, once other rehabbers see the type of deal you are presenting they will want you to keep them aware of any other similar properties you may have available.

So step one: find a great deal. Step two: let everyone know you have it. The rest will pretty much take care of itself.

Good luck!

I really don't think you'll be able to find 100% hard money with anyone you don't have an existing working relationship with. Those days are long gone!

That said, if you are capable of wholesaling I would suggest you take that route over bird dogging simply because there's more upside on a per transaction basis. Which means that you can reach the point of rehabbing that much quicker. Good luck!

I am definitly interested. I live in Torrance and am pretty central to any location. What time is ideal for everyone? Hey harbinger let me know if you need any help organizing. I invest full time and work from home so my schedule is very flexible.

I have purchased a few properties and have reached the point where I can no longer purchase property as owner occupied. My question is does anyone know of a lender that can finance 100% non owner occ, with no prepayment penalties. My current lender can do 100% non owner occ but there is a 6mo pre pay.

Thanks,

Angel Perez

I am. I think this is a great idea and if we can get enough participation it would be a great opportunity to network.

That was very well put. I started out wholesaling here in CA mainly because for one I had little money and two my credit wasn't good enough to get the preferred rates so I would lose alot of the profit to interest.

Finding deals and building a proper network is the key to wholesaling and thanks to that combination I was able to "graduate" to rehabing. Everyone reading this, if you take nothing else with you from here remember those two words. "NETWORKING" and "DEALS".