All Forum Posts by: Brian Wall

Hi Adam,
I would have to agree with Peter.

A few years back I got burned by buying a "great deal" in Pueblo Colorado, it was only $15k and it was currently being rented for $400 a month. I felt I did my due diligence, by hiring people to go look at it for me, and guess what, it turned out to be termite infested.

Long story short, I was able to resell (a year later) for $8k. It could have been a lot worse.

From then on, I only buy properties I can put my hands on.

There are plenty of deals to be had in the greater LA area.

Read through BP to see all the different ways to find properties.

If you are interested in working together, let me know, (send me an email) letting me know some of your background, and goals, and what you can contribute to a profitable partnership (hint: I am not talking about any cash/money contribution).

Thanks,
Brian

Travis,
can you clarify,
are you drip sending to:
a) The attorney
b) The beneficiary/PR
c) The real estate address in the Estate, addressed to whom

or combination

You might want to give Old School Title a call, http://www.oldschooltitle.com, Telephone 216-831-1177

Last I heard (a few months ago) they were able to get around it with BofA, I don't know about the others.

I don't have any direct experience, just going by what I have read on various forums.

Brian

How much cash do you have to work with?

For trustee sales you need a good amount of cash, in California, you need to pay 100% at auction.

I recently obtained a loan committment from a couple of private money investors, and therefore, am now looking for deals.

I am looking ONLY in SCAL, specifically the greater Los Angeles area. Don't ask about Georgia, Florida, or any other states. Because these are private money investors, I will only do deals that I can drive to within an hour. Sorry, no Inland Empire, either. Maybe later, I can expand out there.

This is a perfect opportunity for someone that has more time than money.

I am willing to partner with you on a deal, 50/50 profit split.

Here are my requirements:
acquisition price of no more than $300k
Acquisition price no more than 70% of After Repair Value less cost of repairs
Repair costs - I will only repair to original structure, will not add square footage
I will consider Short Sales, but must be a really good deal.
I would strongly prefer that you have the property under contract, this will protect both you and me.
It does not matter to me if property is listed on MLS and/or with an agent. I respect all agency relationships.

My email address is in my sig, please do not call asking about this or that, I answer emails much more efficiently.

This is a limited time offer, at this time I only have enough funds to do 2 or 3 deals. However, once we get a couple done, I can probably get more funds.

I would also appreciate any advice from the BP experts.

So, Will, when you say you get them before the MLS, are you working direct with asset managers, or with the listing agents, that get the listing, and they are in the process of evicting the occupant, etc.

I tried to do this with one property (not a completely valid test, I know) and the answer the agent gave me was, "the bank wants to see it on the MLS for at least 5 days".

I am wondering now, if that agent is just "snowing" me, since I don't have an established relationship with him.

I have had good luck with click 2 mail from the USPS.

Brian

Bob,
you make a good point about the SEC. Can you direct me where to look to find out the specifics of SEC Guidelines, I want to focus on raising funds for deals in California by private lenders in CA.

Thanks,
Brian

As mentioned in a previous post, note buying can be very lucrative.

Dean Engle has good video on his blog at http://www.notebuyingprofits.com/blog

Of course, he has a package to sell, but you don't need to buy anything to watch several good, informational videos. That will tell you, right away, if that special niche of note buying is for you.

I have a client that has about $150k in his Self Directed IRA that he wants to reinvest every 90 days. He wants to get in, make a few bucks, then get out, within 90 days. If I get him a 10% return on each transaction, he will be very happy. That seems doable with buying notes, with the least amount of risk.

This is compared to fixing and flipping. In flipping, you can make potentially more, but then you are also assuming more risk.

But, I guess like anything, you find what you are good at, and do that. Each person is different.

did you ever find out which position is foreclosing?