All Forum Posts by: Bruce May

@Gabriel D. Zapata will this be a house for a fix-and-flip or your personal residence? If it's for your personal residence you should look for a 203k loan. This loan allows you to buy the house and include the repairs in it. You can research the 203k loan here on BP and on the Internet.

If it's for a fix-and-flip then it depends on the lender you use. Some will include the money in the loan some companies we won't. Mine does. Let's talk more at the next NSDREI meeting or give me a call and I can help answer your questions either way.

Try Dustin Trotter, TDT Construction. He can do it all and works with several investors I know.

Send me a PM and I can give you a couple.

@Kevin Boyd Can't agree more with getting professional photos done, especially for your San Marcos home. I don't know the rules for photos, but if allowed I'd add photos of the Oceanside beach and pier, Legoland, Seaworld, Zoo, etc.. 

Very nice, congratulations.

Hi @Ashley Corral and welcome to the site. There are some really good books here that you can get for a small amount that can help direct you. Best of luck.

@Michael Porche, send me a PM. I can direct you to a guy here in Carlsbad whom you might want to talk to if you want to buy out-of-state.

@Joshua Ede, we have a real estate investment club in Oceanside that you might like to attend. Because of BP rules I can't give details here, but search for us on meetup.com and you'll find us. Also, connect with me if you like and I can help guide you if you desire.

@Steven Tankersley I've wholesaled with both the CAR forms and with my own contract. Both work just fine. As for your questions, if the private money is going in without a 1st trust deed being created then you can say it's a cash offer otherwise you should/could provide a proof of funds letter from the private money source and a copy of their bank statement showing they have the funds. (That's how my company does it). #2) You are responsible for the EMD if you don't perform in the timeframe stipulated in the contract, so you could lose your EMD.

The deal he's offering, as everyone has said, stinks to high heaven and you should be very, very cautious dealing with him. I hope you met this guy in person and have checked him out through the sate website. You can also check the county tax records to see if he's really the owner. In California we use title and escrow companies for transactions and as you already know, you will need a 1031 company to handle that part. I'm very active all across the county and can help you out here if you need help with something. Don't be afraid to ask for help. I'd rather help you then hear about how you lost $450k to some guy in South Africa posing as an owner/agent.