All Forum Posts by: Chase Maher

Lee,

The SoCal market is tough right now so good on you for being successful in the beginning! I have heard nothing bad about LendingHome, good luck and I hope it works out for you.

Chase

Welcome to BP Danny! Good luck and enjoy the wealth of information here.

It seems like the other investor has the fast track because he has other properties. What I would do is get your agent to print out 5 strong places for the owner to live in, that will buy you some time. In the meantime I would be hunting for HML's that can get you the cash FAST. Look for one that can fund all of the rehab. Most likely you will need about 20%, which isn't much on a cheap property like this. Make some phone calls to family and friends and offer then 6-8%.

Always budget more for older homes as once the rehab starts there are ALWAYS surprises. PM me or call me if you need any help. Good Luck!

Welcome to BP !

@Dave Hall Hope that deal works out for you!

Welcome to BP @Derek Kraack !

Setting up your desired Keywords was the biggest help for me to learn several different things in just a few short days. Feel free to PM me if you every have any questions, I am a SoCal dude myself!

I agree with @Bernie Germani Mailers and cold calling for off market listings is nearly the only way to get deals in SoCal now. In your market however I am sure it is different, but I would bet you will still find some amazing deals this way.

Keep doing what you are doing, but never settle, always being ahead of the pack!

Welcome to BP. Going multi-family is a great way to get going. Best of luck!

@Christian Garcia From my experience, the number one red flag with Private and/or Hard Money Lenders is junk fees and large pre-payment penalties hidden in the fine writing. Look for a Lender with a track record of dealing with long term clients with multiple loans behind them, that is a sign of a good and trustworthy lender.

Money can be found cheap just about anywhere if you know where to look, but not all lenders will be clear with you on costs and terms.

If you go with a Private individual lender, make sure to have an attorney draw up the proper paperwork.

Hi Bob,

I am from Virginia Beach and went to college at Old Dominion in Norfolk, Va. The Military market is on par with San Diego, if not stronger there. Saying this, I think you have an excellent plan there, especially if you can have a network of military officials referring you renters in both markets.

I know some great RE agents there if you would like their contacts feel free to message me. The 3 major bases in VB/ Norfolk are Little Creek, Dam Neck and NOB. Oceana is a large Air Base as well. Steer clear of Ares in Norfolk like 26-42nd st and neighborhoods in VB such as Green Run and Salem. Good luck!