All Forum Posts by: Blanca Wilson

So I'm searching for an FHA Loan to purchase a 4-plex and I come across this statement "*Product available on Fixed Rate Conventional Products only. No FHA, VA or Jumbo Products. No State Restrictions." For those of you who are more versed and speak Loan Lingo would you kindly expand on what this means? All replies are much appreciated. Thanks!

Great post! Thanks for sharing your experience.

Interesting you've mentioned the gurus and teaching seminars - I can't look at any website without an advertisement popping up promoting fix & flip education to the masses. Not all markets have dried up though, otherwise many here wouldn't be in business. I encourage you to look in areas that are starting to attract more investors, the "hot" areas of the country and those areas will be determined by the buyers you wholesale to. Best of luck! 

Hello Everyone,

I'm looking to purchase a four-plex in San Diego county. And because not all lenders are created equal... Can anyone make a recommendation on FHA lenders they've used and have been satisfied with? Thanks for reading and commenting on my post - Much appreciated!

I agree with @Micah Copeland. If you are going to be making deals, it's important that you be as knowledgable and confident as possible when dealing with established professionals in this or any business. Listen to the podcasts on this site, they are a great resource with a wealth of information. Best of luck!

Thank you all so much for your input. I was getting so frustrated because I was talking to several "investor-friendly" agents that were supposedly investors themselves (landlords) and they were all basically telling me I had no chance competing with retail buyers. After calculating my offers they weren't even getting submitted. Now, I'm not going to bother with the MLS. I'm just going to do creative marketing on my own.

I've been told through multiple sources that to stay in the game, you better learn to adapt to a changing market and strategise accordingly. When I'm talking to real estate agents in California, many of them have said that SFH are being sold above market value and that in order to get said SFH I need to submit above asking price - how does that make sense when I'm trying to wholesale to flippers and still make profit? Should I move out of Southern California and start looking elsewhere?

Thank you for the insight gentlemen! @Linval T. @Adam B. @Corey Melkonian @Sammy Gallegos

I've heard a lot of talk lately about how wholesalers generally don't get the kind of information true buyers are looking for. I, myself am a wholesaler- it's a given that the numbers have to work in favor of someone looking to buy and hold or someone looking to fix and flip. What would grab your attention as a buyer?

Thank you all for the great comments! 

@Jim Keller - Was the $90K what you invested or what you made profit from your flip?

@Jo-Ann Lappin - Is OC Orange County?