All Forum Posts by: Cami Bohn

@Mathew Tomas

Following! Hope you get some answers!

@Elenis Camargo

Thank you so much!! I really appreciate all the advice!!

We actually just found a house in the an area that seems like a good deal. It is listen for $230k less than houses in the area. The house is gutted and needs to be rehabbed. We are trying to figure out loan options. The offers are coming in at $80k above asking so we are seeing if it will still work for us.

Any tips on how to decide if a flip is worth it?

Do you think I can find investors interested? How do you make these connections?

Thanks!

We found a home in a very desirable location in California. It is completely gutted as the seller was a hoarder and ordered to move out. There are zero cabinets, zero sinks. All showers, tubs, and toilets have been removed.

We, unfortunately, need financing to make an offer on this house. The current offers are up to $80k above asking. We would like to make an offer but we are not a cash option.

Any tips on finding a lender that will finance this?

Any other way to make our offer stand out?

Thank you!

It has so much potential but the house is in ruins. All flooring removed and the seller has owned it since 89.

Thanks everyone! Yes, I am thinking it is safest with a real estate agent. I am going to be getting my license soon but I also didn't want to spend money paying the real estate agent in order to buy this property. I know the seller splits it, right? But I still pay half?

Thanks!

Hey everyone,

I have my eye on a lot that has been listed for a long time. I would like to build a house on it (maybe live in it for a while) and sell it. I am not an agent yet but I don't want to wait to complete my license before I make an offer on this lot. Although it has been listed since August 2019.

Can I make an offer on it by myself? Also, if I do, where do you recommend I get offer templates?

Also, what contingencies would you include? It has been conditionally approved before by the city but some of the conditions have no been met. A new soil inspection needs to be made, for example.

Thank you!!!!

Also, I'm in California.

Hey! I am really new to Real Estate and wanting to get into wholesaling to start. I would love to network. How many of you are still doing this in the area? 

How successful is it? My husband is looking to transfer to Point Mugu and I'm just trying to get a feel for what to expect. 

Also, we are looking for a fixer upper as well and would be willing to pay another wholesaler. While also wanting to work with wholesaler to learn the business.

Mostly looking in Camarillo and area around Point Mugu. 

Thanks! 

Any luck? Trying this and called the water company and got the same privacy reason. Thanks! 

@Cami Bohn

Another question, what are expenses you need to consider as an REI? Other than down payments, flipping costs, repairs..?

Do you carry your own insurance? As a business? Do you do that if you are also a real estate agent? Anything else I am missing?

Thanks so much for all the help!!!!

@Cami Bohn

Also, we are in the desert of California.

My husband currently works full-time but we would love to turn REI into our full time jobs.

Hi everyone! I have been reading forums nonstop for the last week and I am so glad I found this resource! It has been amazing! Thank you to all of you already!

I come here because we have been entertaining jumping into real estate investing but finally feel ready to jump right in!

We bought our first home in 2018 and VERY SLOWLY renovated it. We bought it for $175k and expect to sell it for anywhere between $225-$250k. We live in a city where there are ALMOST NO renovated houses. So, just to test the waters, we listed our home and we had A LOT of interest at $250k. My first question is, what happens if the home appraises for only $230k or $215k? If the buyer is financing, what happens then? I feel like we can get more of what the house appraises for because it's such a gem and rarity to find in this city.

Now in terms of our next home, we would love your help! We don't plan on moving into it, like we did with our current home. So we expect to pay the 15% down. Any tips on finding a lender to do investment property loans with? Our home loan was with a bank last time and I'm just not sure they would be the best to go with this time around. Do you recommend using a smaller lender? Or someone you know? Any tips appreciated!

Next is splitting an investment. My brother-in-law was blown away by what we did with our home. He would love to invest in our next property with us. He lives out of the country but would love to help us out with the down payment. We would do all the renovations and paying for them (whether we DIY or contract out the work). What types of splits have you done in that type of situation? Since we are putting in the labor or finding a property and flipping it, what would be a fair split on the down payment and then on the profits? Please let me know if we are missing anything here.

And our last question is... What do you look for in an ideal first property? We aren't sure if we will flip it and sell it as soon as we finish renovating it OR if we buy my brother-in-law out (since I believe he expects a quick turnaround) using the equity we will build up and keep it as a rental property.

Thanks so much again!! I appreciate all your advice!