All Forum Posts by: Chris Music

Hello BP!

Wanted to take a minute to promote our Company Page, Proud Start, LLC. My partner, Denise and I are investors in the San Francisco Bay Area, we focus on flipping single family homes but do wholesale when it makes sense. We are always looking to meet new people and provide assistance in any way we can.

If you are an investor, seller, buyer, agent, lender or anyone else in the Bay Area lets connect. Like our page then give me a call or send me an email. 

We go all over the Bay: Vallejo, Fairfield, Vacaville, Concord, Martinez, Oakland, Berekeley, Alameda, Walnut Creek, etc. We'll go to Sacramento, Stockton, San Jose... never too far if the number make sense. Thank you. 

@Denise Madrid

Hello Mytisha, great question, one we all have when getting started. What sort of business are you doing? Flip, rental, wholesale? 

Regardless, I'd wait until you have a deal or two under your belt before paying the fees associated with creating a business entity. You don't want to spend time and energy on things like this when you need to be out there making the actual business happen. 

Hello BP,

I'm a Flipper looking to connect with wholesalers in Northern California. I'll buy pretty much anywhere in NorCal: San Francisco, Alameda, Solano, Contra Costa, Sacramento, San Joaquin counties... PM me, I'd love to figure out a way we can help eachother out. 

Travis, if it were me I'd invest the money, but I think you answered your question already. If you aren't sure you want more property you probably shouldn't buy anything. That's how you become a burnt-out landlord, the kind who sells their properties to guys like me at a discount, haha. 

Sounds like a great Deal, congrats!

Chris, welcome! Great question. helpful information to know about your market includes: median prices, median price/sqft, average days on market, months of existing inventory, distressed sales prices vs rehabbed sales prices, cost for repairs in your area, typical finishes and materials in your area, etc. 

You can reach out to agents and contractors and/or do research online on the various real estate sites.

Well said Wally! Congrats on the deal and the new relationship. 

Jeff, I hope that is not the case! As a rehabber myself, I don't shop my deal to lenders until after I have it in contract so I don't waste their time reviewing something that I'm not even going to buy. Can't you get pre-approved by a lender then use that letter as proof of funds when making offers? You shouldn't need to explain the specific house until after you have it in contract. 

Andres, I agree with Bill, FHA might not be the best option for you. Reach out to local hard money lenders. See what their rates are. They can close fast and will lend on properties that need significant work so you won't be limited.

Casey, congrats on finding a local bank that is willing to fit your needs, sounds like a great plan to me, as long as your properties still cashflow with the extra financing. For me it would depend on the max rate for the ARM, I'd want to know what my risk was after the 5 or 7 year period is over.