All Forum Posts by: Com M.

@Alex Tadros and @Robert Garcia look at some of the REI meetups at meetup.com - I really like the TVREI which meets on Wednesdays once a month and has speakers and a small fee, and the Saturday coffee in Temecula the first Saturday of each month. Both just passed but it would be great to see both of you at the meeting.

Very few of my friends are willing to even hear about REI, so it would be nice to have other locals to talk to!

We are in a very similar boat!  I work in Newport Beach but live 2 hours away in the valley just to save and invest. Even after that it is so slow moving it can drive you crazy!  

Really it depends on your time available, life skills, and drive but just a few ideas off of the top of my head:

• Had you looked into freelance work? Like signing up for elance or upwork where you can do writing, blogging, assistant work in real estate, etc
• Many in this business are wholesaling and driving for dollars on the side, in the areas they plan on investing in. 
• Etsy and Artfire selling hand made or custom items
• Ebay stores selling items you find in your area that others can't find or get easily
• Create a blog discussing something you are good or passionate about for advertising income
• Start a youtube channel for advertising income
• Start a services based business doing something you are good at and advertise on Craigslist
• Check the Craigslist gigs area for one time quick gigs you can get that work around your schedule
• Uber or lyft as a driver
• House hack, or buy a house and rent out all but your room
• While saving move your money from bank to bank to gain their 3 or 6 month bonuses like $300 bonus for holding your money in their savings for 90 days, then move it to the next bank offering that.
• Sell everything you are no longer using
• Sell photographs to stock photo websites like istock, depositphotos, etc
• Buy pallets of overstock/returns to ship and have Amazon sell
• Build websites for companies using wordpress
• Offer to maintain the social media for all business owners you know, and take a monthly fee for some extra facebook and twitter time.
• Become a long distance digital assistant for some REI investors that need you to analyze deals, juggle calls, etc allowing you to learn along the way

Of course any job working in the industry you are looking to get into like an working with a realtor, investor, broker, mortgage agent, etc would be preferred since it gives you further advantages in future investments.

Let us know what you decide to do!

I have heard good things about BildWise, but have not used them directly. Also your Property Manager may be able to help if they have a maintenance department able to handle full rehabs.

Filing a quick claim will always be terms for the due on sale clause in almost every mortgage, but very few will ever attempt this. In most cases if you speak with the bank about this many people have done this. I mentioned wanting to do it to my mortgage company before signing for the mortgage and they told me that they would require the paperwork showing the principles have not changed meaning I can't have the LLC with multiple names not on the original loan but that if I as a person quick claimed to an LLC that I was the principle of there wouldn't be an issue. Of course none of that means anything unless it is written into the mortgage but knowing the policies from your lender can help.

It isn't unusual to want to do this, and the banks just want to ensure that you aren't using the LLC as a cover to sell the home to another party.

You line up a HML - so the next time you find a "deal" you use the hard money to buy the place, fix it up, and if the numbers are all correct and you are still under 80%LTV then you refinance into a conventional loan and payoff the hard money and construction loans.

Keep doing wholesale deals, since this will give you some credibility with the hard money lenders, and you will need some of your own cash for the down payment and construction costs. 

Best of luck!

@Matt Pich-Maxon welcome, fellow Cali investor currently investing OOS.  Looking forward to seeing your first deal! I love Big Bear - if all goes well I will probably get a vacation rental out there.    :)

You need a script or software that checks your call list against the DNC list.  There are sites dedicated to checking your list against the DNC list.

@Justin Swann No way! You file, evict, and file a claim for unpaid rent and any damage they do.  Taking a scammer at their word that they will leave voluntarily after threatening you?!  There isn't even a thought or decision here... had they come to you with a heart tugging humanizing story at least there is a chance you might consider especially if you feel the circumstances extraordinary, or be upfront and honest about whatever hardship they are facing and perhaps you have a solution that works for everyone - but a threat?  ... 

Just my 2 cents, but I never let the lowest common denominator chose the path forward.

Hi @Robert Garcia  and welcome!

I too am from Murrieta, and currently invest in Indianapolis.  There are so many types of investing are you thinking about local, out of state, flipping, buy and hold, multi family, single family, distressed rehabbing, notes, and hundreds more. What is your preferred flavor?

There are some great local groups, we have a few local meetups every month that are useful that happen in Murrieta and Temecula.

Com-

I have used White Home Inspections, and love it because he is thorough like it is the house he is going to buy. If you want a couple of examples of his latest work for me I wouldn't mind PMing the inspections over.   Very dependable and well priced. Couldn't say enough since he saved me from an out of state investing catastrophe.