All Forum Posts by: Alex Peou

so my question to all the california REI is what is giving you the most success in obtaining all of the rehab deals in your area? direct mailers? wholesalers? bandit signs? MLS? I talked to a real estate broker and he states that all of the REOs are mainly being gobbled up from the bank by big time investors in mass quantity and most shortsales are being performed in a manner that often is unethical where the best offer isn't being presented to the bank on the shortsale package. All the good deals that i feel have potential almost seems like its too good to be true.. is this really the case when going through the MLS? it seems like obtaining property here in socal isnt very easy (nor did i expect it to be) but can anybody shed any light on this? it is my understanding that investing in california is one of the most difficult places to do so and a goal of mine is to (hopefully sometime soon) get into my first property but want to make sure i am applying the right strategies and going about this the right way. is there realistically a way for a small timer like me to obtain a hidden gem of a property with limited cash? would any of you be willing share best practices for a noobster like me?

also on a side note: would any of you socal investor be willing to share some knowledge on your current rehab projects? i have done a lot of research and have learned A LOT from this AWESOME website and feel like its time for me to get experience from someone who actually knows what they are doing. i have a pair of VERY capable hands and quick moving feet in exchange for a little wisdom and guidance?? =]

Thanks for the the knowledge @BillGulley. All of that advise was exactly what I was looking for. Something to keep me in the right direction. In California it's pretty tough to find property with the budget that I have saved up right now. But knowing what properties to identify helps keep me on track. How difficult would it be to get a private money lender support if needed? Any thoughts on that approach?

Hello BP!!!!,

My name is Alex and after countless hours of researching and learning from this awesome site(thanks to all that contribute in making this site what it is), ive finally decided to make an introduction and ask for some guidance from the Mr. Myagis of the BP family.

I'm 22 years old, from ontario california working at verizon wireless and have come to the conclusion that its time for me to make a move in a different direction that i am currently in. I have about $20,000 saved, great credit and trying to figure out how to best put this money to use. problem is there are sooo many ways to invest and i really need some advise at this point. I've been looking into wholesaling as i think this would be the best way to get my feet wet and really LEARN all i can while making and saving as much cash as possible. Ultimately the goal is to have enough money to realistically get into the rehab/flip aspect of REI. I've also looked into purchasing a rental as i know i can probably get into a property a little bit easier than say purchasing a rehab property.

If you guys could go back in time towards the beginning of your REI journey and were in my shoes what would you do? Just looking for some direction and inspiration to take me to the next phase of my life and hopefully be contributing to this site as much as so many of you do.