All Forum Posts by: Sean Carroll

@Mark Allen can you please email me with more detail [email protected] 

thank you sir!

Jay Hinrichs yes I would like the referrals. Also listened to your podcast and I learned a lot from it

@Jay Hinrichs and @Franco Li I am sorry I should have been more specific. I am looking to initially buy and flip residential homes. I am looking from the bay area to about 30 minutes north of Sacramento to South Lake Tahoe. Bay are homes are extremely pricey ranging from 400k to 800k and outside of the bay area you're are looking around 250k.

The flood zone worries me, I do not have much experience in this except for Sacramento on the river. What I would do is reach out to some neighbors and see what they say just to double check what the sellers are saying. The I would go to the county and see why it is in a flood zone. Based off google maps it seems that near by river looks like a creek.

Lucas Mills yes a high yielding checking account. The one I put is 1.00% apy compared to the national average of 0.05% (I think). You could do 2 accounts if you want or one account but keep an excel spread sheet so you know which is which. I'll send you an example tomorrow if you want

How much capital should one have when starting out in REI in California? I tried searching previous discussion but could not find anything specific to California, and out real estate is crazy here :/

@Jay Hinrichs maybe you have some input.

@Lucas Mills I think that looks much better than the previous. It gives you more wiggle room I think. If you look at the big picture of it since you're doing a house hack you're essentially putting $579 into your future a month (119+460). I would suggest if you really want to get into future properties and you can afford it to immediately take that money and put it into a high yielding interest checking out, as well as any money you are holding for future expenses. just keep a spread sheet of the 2

@Jay Hinrichs and @Michelle T. and @Rusty Scott do you have to be under a broker in California in order to have your license and access to the MLS?

@Lucas Mills it seems like the numbers don't work out in your favor very well. You can look it at 1 of 2 ways I see it. 1. you can walk away from the deal and try to find another one that works better, if you walk away from the deal you could always tell the owners to call you if they want to come down to numbers that work. 2. you do the deal at hand and live rent free allowing you to build up more capital for future purchases and build equity on the house assuming your market goes up. (this is speculating). with the equity, it would allow you to pull out say a HELOC and use the cash for flips if you're interested in that or a larger down payment on other properties.

I hope you all are having a great week! I was hoping you would be able to help me out with some recommendations in the Bay Area, more specifically someone who will operate in San Jose. Who you recommend for...

- A home inspector

-CPA

-Lawyer

-Real Estate agent

- Handyman

- General Contractor

- Broker

- Title company

Thank you so much for your help!