All Forum Posts by: Arshiya Taami

I would recommend building up your cash up first as most hard money lenders will only allow 70-75% LTV for a first timer. Then I would partner up with a flipper, maybe even wholesale some deals to get started.

The risk is very high when you are brand spanking new and you will definitely need to go through some transactions to get an idea of what you are doing.

Thank you for your response, Erik.

I have researched the business and I have contacts and connections like family friends who are contractors/ have done some sort of real estate fix and flip. If I were to acquire an LLC would it look better on my resume?

0 Votes

San Diego, California

Hello everyone I am 18 years old, with no proof of experience in the fix and flip business. I have a credit score of 750 and 15k in cash and was wondering how likely I am to be accepted for an HML. I want to do my first fix and flip in the future but I am afraid that no hard money lender will give me a loan considering my resume.

1 Vote

San Diego, California

Quote from @Keith Mintz:

Quote from @Arshiya Taami:

I am an Investor and do fix and flips. I was wondering if in todays market, are fix and flips still possible to do and will make you money in southern california?

There’s definitely good deals still just harder to find, and get connected with the right people! I have a few I’m looking into at the moment. If you want I can send them your way too to take a look at.

that would be great! just send a message keith

0 Votes

San Diego, California

Quote from @Evan Polaski:

@Arshiya Taami, this is best to research with the local building department. In my market (Cincinnati, OH), technically any fixture replacement requires a permit, so if I just want to replace a bedroom ceiling light with a ceiling fan/light combo, I would technically need to pull a permit.

But in practice, if I am truly doing fairly cosmetic work the does not garner too much attention, I would go without a permit. As soon as I need a dumpster, and if there are going to be multiple trucks/vans there on a daily basis, I pull permits. Not only do I need to, but I am also making enough racket in the neighborhood that the chances of someone calling on me are much higher.

Also, for a period of time, Cincinnati started actively cracking down on non-permitted work. I had a friend that was at the point of tiling his new shower and putting up kitchen backsplash when the inspector knocked on the door to snoop around. He ended up having to pull down tile and reopen walls to get inspections on the work, since he didn't permit it.

thank you for the insight Evan!

0 Votes

San Diego, California

Quote from @Paw Nouri:

No, you won't need permits for cosmetic repairs. If you start going into electrical, plumbing, cutting in for new doors, roofing, HVAC, etc. then you would potentially need to pull permits. Also, pulling permits is up to you..

Thanks! are you in the california region? just making sure because every state is different.

0 Votes

San Diego, California

Im in the southern california area about to do my first fix and flip (mainly cosmetic fix up) and was wondering if there are any permits I am going to need when renovating the house.

2 Votes

San Diego, California

I wanted to get into my first real estate investment and was wondering if finding profitable homes in the market still possible. When looking at foreclosure homes, the agents asking price is the same, if not, more than the debt owed. Another question I have is if I buy a home that has debt still owed, does that mean I then have to pay off the remaining debt?

1 Vote

San Diego, California

I am an Investor and do fix and flips. I was wondering if in todays market, are fix and flips still possible to do and will make you money in southern california?

1 Vote

San Diego, California

Hello everyone,

I am an investor in the san Diego/Los Angeles area and want to work with whole sellers in potentially buying their deals. If you guys have any email groups or partnerships I am interested in joining just shoot me a message.

0 Votes

San Diego, California

Quote from @Chris Seveney:

@Arshiya Taami

ive been collecting a W2 for about 5 years now and my buddy for about 2 years, we have been at the same company the whole time, we dont have any expenses besides paying for our gas since we still live with our parents.

How long you been collecting a w2 and what are your incomes vs expenses? Do you have any other assets outside the $20k?

Best bet may be to bring in a partner

0 Votes

San Diego, California

All Forum Posts by: Arshiya Taami

Arshiya Taami has started 14 posts and replied 25 times.

Post: Loan Officers I need your advice!

Post: Loan Officers I need your advice!

Post: fix and flips still possible in southern california with todays market?

Post: any permits I need to pull when doing a fix and flip?

Post: any permits I need to pull when doing a fix and flip?

Post: any permits I need to pull when doing a fix and flip?

Post: are market deals still profitable?

Post: fix and flips still possible in southern california with todays market?

Post: Whole sellers need!

Post: Whats the best loan option to get for my situation?