All Forum Posts by: Atanas Angeles

Quote from @Andrew Postell:

@Atanas Angeles yeah, everyone is different but I would suggest the wholesaling route at first.  Networking with local people is good practice anyway.  Try some local real estate meetup groups. Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too. Even facebook might have some good local groups for you. But post locally for this. That’s the best bet.

Thank you, I'm already participating in meet ups, and facebook groups and now I'm reassured that I'm on the right path.  

Quote from @Caleb Brown:

Wholesaling does take time and money. It is not easy to do and out the gate you won't have a lot of traction(unless you build a system or partner with someone who knows it). If you have both to dedicate to it then that'd be a better option. The easier option is going through wholesalers and networking. You will still have to compete and sort through deals but that is what plenty of investors do. Make sure to do your due diligence and run comps for wholesale deals

Thank you Caleb, I'm definitely leaning more towards the strategy of networking and connecting with whole sellers, and sourcing properties that way rather than me trying to become an expert at wholesaling, which would derail in a completely different direction.  Perhaps down the road, but not on the first or second flip deal.   Thank you

Hi, I'm looking to purchase another property for Fix and Flip, or BRRR, and this time I would to purchase it Off Market, at a better price, and not to go through a bidding war, which leaves very little profit, or equity depending on the strategy. If you are a seasoned Fix and Flip or BRRR investor, would you try to get the property from Whole Sellers, brokers, etc, or learn and become a whole seller yourself?

Hey Everyone!

I have purchased a few properties in the past, and this time around I got into contact with an agent who claims that they will find me an off market property at discounted price for us to fix and flip. We were asked if we would be comfortable with an EXCLUSIVITY AGREEMENT. I thought that I would be ok with it. A day later I received it, read through the contract, and I was shocked by the limitations. It’s for a period of 365 days, and it shall automatically renew. The area covered is a rather vast area in Los Angeles. Further: "if the buyer sell or lease the property purchased, the buyer (me) shall retain the services of the same agent as the listing broker/agent." 

I had also mentioned to the agent in our conversation that our strategy is to purchase 2 properties within 12 month period or less. This Exclusivity Agreement was such a turn off, makes me doubt the agent. So many events will change in 365 days, and I will evolve as an investor tremendously , I could not possibly sign an Exclusivity Agreement with these terms, it has too many limitations.  I'm a serious buyer, I am not a first time buyer that needs someone to hold my hand, I know exactly what we are looking for, and whoever delivers I will close on it.  We only had 1 conversation with the agent then a marriage for a year? What are your thoughts?

Thank you for your time in reading and expressing your opinion.

Perfect

 Will talk to my lender

Quote from @Denis Ponder:

I reached out to my local bank where I already have a relationship.  It was an easy process and I can visit their physical location anytime I need rather than having to do everything over the phone.

 Thank you, I will do that as well first, and then explore other routes. 

Hello,

I have a significant equity in my house, where I live. Would love to use a Heloc to fund part of the construction of an 1200 sq ft ADU

I don't know what company or financial institution I should work with for the best terms and rates.   My income is sufficient and credit score around 800.

Do you have any referrals and recommendations, should I call the bank servicing my mortgage?  I've read people say, find a credit union etc.   who should I reach out to?

I would appreciate your advise.

Thank you