All Forum Posts by: Damian Ramirez

Hey @Max Grust,

I reside in the LA area as well, however work from Newport Beach. I personally don't invest in LA or in California, only in rare exceptions where there happens to be a good flip that comes our way. Since the California market is so expensive and over priced with very little opportunities to obtain a cash flowing rental, we focus on the midwest states such as Cleveland, and at times Columbus.

I recommend that you start looking into out of state investing and begin vetting possible markets to jump into. For example, properties in the midwest markets are priced lower than those here on the coast, we usually find a distressed property in a C+ and above neighborhood for about 70-120k, sometimes more, depending on whether its in a C,B or A neighborhood. Rehab can vary on how distressed the property is, we've had rehabs for flips around 40-80k and at times even lower or higher and rehabs for rentals ranging from nothing needed or 10k to up to 50k due to the amount of work needed or if there was an issue with the contractor. You can even find way cheaper properties in these markets if you decide to venture in to D grade neighborhoods.

Your best bet as a California investor would be to look into out of state honestly. It takes a lot less money to be put upfront, and you have a higher chance of obtaining a cash flowing property out there than here in California. If you use a hard money lender, you can possibly spread your 70k between 2-3 properties and possibly even more if you aim for D grade neighborhood properties.

If you're anxious and a bit afraid of investing out of state since you're further from the project, look for a partner that has experience in a market you're interested in. If you have capital and no experience, find a partner with experience, a track record, boots on the ground and who might need extra capital (such as your 70k). Although make sure to ask as many questions, vet them properly, get it in writing/contract and to verify the info they tell you with other experienced investors.

Hey @Mason Blake,

I was once in the same position you are in right now, and what was the deciding factor as to which market I would start investing in was that I had found a partner that taught me and showed me the ropes and had been investing in the Cleveland market for years now. Because I found someone with the experience, knowledge and the contacts in Cleveland, I made it my market. Because of this, I didn't have to go look for referrals, sort through the bad and good contractors, lose money on bad property managers and project managers, everything was already set and had been vetted. 

I would suggest the same for you as well. Look for an experienced investor that is willing to teach, partner or be with you along the way and that can help you through the use of his/her trusted contacts. Whether it be you starting off as a capital and passive partner at first, while learning, or a boots on the ground. Just look for someone that is already in a market that you may have interest in and see what you value you can bring to them, and what value they can bring to you. Parter with them, learn from them and use their experience, past mistakes, and resources to your benefit, while also bringing something they lack or need to the table. 

What may help you find people who invest may be attending meet ups (when they're up and going again), reaching out to people on BP, posting on BP and just networking with people you meet on a day to day basis as you never know who you may come across.

If you have questions, feel free to reach out, always willing to help when I can. 

Hello @Courtney James,

I would recommend for you to get your partnership on this deal in writing with all the determined details between you two. Making sure to cover ownership/equity of the property, and split of cash out profits or cashflow. As for determining on how to split the profits, I would say that should be determined by the amount of work and value that is brought to the table. It seems as if you are managing the rehab, the property management, and putting in your own capital into this property. If you are doing more of the work, I would say you would go ahead and receive more of the profits, such as 60/40. 

If you would like to go ahead and do a more of a true partnership, then perhaps still go with 50/50. Another option is to perhaps even consider just charging a percent or a fee for your work and interest on your capital invested and handing off the property to the out of state investor. It just depends on what your goals is with this property. Do you want to receive cashflow from it as well, or just be said and done with it and not deal with a partnership and the necessity of requiring their permission when it comes to the decisions. 

Either way you should get all the details in writing and perhaps make an llc for this single property.

Hello All,

I'm an investor that resides in Newport Beach, California, however most of our investments are in Cleveland and a few other midwest states, as well as California. 

One of my partners is heading out to Chicago tomorrow and is staying out there for a couple of days, so we're looking to see if he can meet up with any investors while he is over there. We are looking to venture over and expand to the Chicago market and would like to chat and discuss with investors that reside in Chicago who have some experience in that market. 

Hopefully we can catch up with some of you and possibly get something in the works with one another or even just chat about your market, the areas and what you happen to primarily focus on when it comes to real estate investing in Chicago. 

Please feel free to DM me and connect with me if you are happy to meet up or if you have any questions!

Hello @Mechon V Scoggins

I'm in California as well! In Newport Beach actually. 

I invest in a few markets, such as Cleveland and California. If you have any questions or would like some guidance on how to start out or where to possibly start looking to invest, feel free to reach out and dm me. Always open to helping others and being able to guide new investors in order to help them avoid money wasting mistakes.

Hello @Keyla Maysonet,

I'm an investor in the Cleveland market and the team and I have been investing in Cleveland for around 5 years now. We flip, brrrr and wholesale properties in the C+ areas of Cleveland, such as Shaker Heights, Cleveland Heights, University Heights, and South Euclid. 

We currently use our own in-house team Project manager, Property manager, and realtor so I can't 100% refer someone in those fields since we don't happen to work with others anymore. Although I can possibly save you some money and go ahead and let you know who to stay away from when it comes to contractors. 

If you ever need some help when it comes to the Cleveland market, reach out and let me know! Always willing to help others, plenty of good deals to be had here. 

Hello @Julio Mendoza,

We're actually practically neighbors, I reside in the LA area as well and work from Newport Beach. I personally don't invest in LA or in California, only in rare exceptions where there happens to be a good flip that comes our way. Since the California market is so expensive and over priced with very little opportunities to obtain a cash flowing rental, we focus on the midwest states such as Cleveland, and at times Columbus. 

I recommend that you start looking into out of state investing and begin vetting possible markets to jump into. For example, properties in the midwest markets are priced lower than those here on the coast, we usually find a distressed property in a C+ and above neighborhood for about 70-120k, sometimes more, depending on whether its in a C,B or A neighborhood. Rehab can vary on how distressed the property is, we've had rehabs for flips around 40-80k and at times even lower or higher and rehabs for rentals ranging from nothing needed or 10k to up to 50k due to the amount of work needed or if there was an issue with the contractor. You can even find way cheaper properties in these markets if you decide to venture in to D grade neighborhoods.

Your best bet as a California investor would be to look into out of state honestly. It takes a lot less money to be put upfront, and you have a higher chance of obtaining a cash flowing property out there than here in California. If you use a hard money lender, you can possibly spread your 70k between 2-3 properties and possibly even more if you aim for D grade neighborhood properties. 

If you're anxious and a bit afraid of investing out of state, look for a partner that has experience in a market you're interested in. If you have capital and no experience, find a partner with experience, a track record, boots on the ground and who might need extra capital (such as your 70k). Although make sure to ask as many questions, vet them properly, get it in writing/contract and to verify the info they tell you with other experienced investors.

If you have any other questions feel free to reach out at anytime. Hope this helped!

Awesome! Do you guys just focus in the Alabama market?

Good stuff @Caleb Bryant!

Do you come across good apartment complexes often over in Alabama?

@Antonio Cucciniello

I currently Invest in Cleveland, however I dabble in a few other markets as well

How is NJ? Treating you well for investments?