All Forum Posts by: Danny Cerecedes

Hey BP need a little help. I'm making a list of investors that are willing to help with my fix and flips. What is the right approach when talking returns on their investments? I've talked to some people and get different answers. I've heard a certain percentage return, 50/50 splits etc. Can I actually tell the investors the % return for them to expect? Hope my question makes sense??

Awesome Lisa!! It's crazy how creative you can be with financing in real estate. Learned a lot from the BP podcast in regards to that!!

Goodluck on your next!

Hey BP,

Can anyone recommend a good Real Estate Lawyer near LA? 

Looking for help creating my LLC as well as other investor questions I have.

Thank you in advance!!

Hey BP,

Can anyone recommend a good Real Estate Lawyer near LA? 

Looking for help creating my LLC as well as other investor questions I have.

Thank you in advance!!

 What's up JJ!

I purchased a out of state property using a Turnkey company and I had a great experience. I talked to the company about what I wanted and we narrowed it down to the property I ended up purchasing. I bought in the Midwest and being from CA....two totally different markets. I wasn't focused on purchasing a property where I was speculating appreciation I wanted something with atleast steady appreciation but more importantly positive net cash flow per month.  I like the fact that the property is completely rehabbed head to toe with the big tickets items all new (roof, electrical, plumbing, windows, water heater and HVAC. It fit my needs and im looking to do a few more to add to my portfolio!

Good luck!!!

Max welcome to BP!!

I'm also from the Bay Area and have relocated to SoCal. Many people on this site bash out of state Turnkey properties and believe investing close to home is the only thing you should be doing.

I personally like both and currently I'm focusing on out of state properties. To each is there own and both have risk. Ca markets are cyclical which can be good and bad depending on when you got in. You can definitely make a lot of money but could also lose your shorts. The most important tip I got in regards to out of state investing was the importance of a reputable property management company and focus on areas with population growth, low unemployment and an abundance of schools and retail. You have to run your numbers and Im very conservative with mine considering worst case scenarios.

I focus on positive net cash flow from the very beginning. My out of state investments won't have the huge appreciation spikes like the Bay but they also won't have the potential big downturns the Bay has like we saw in 08. Granted the Bay is less affected than areas like Sac or the East Bay but people in the Bay lost a lot of value.

If you can do both and the numbers make sense you will have the best of both worlds. You will get the appreciation that Ca can offer along with steady cash flow from your out of state properties. I would target a geographical area out of state and do 3-5 in that area rather than a bunch all over the country....just my thoughts though.

Thanks Margo for the update!!

I really appreciate it Bruce!! Look forward to possibly meeting you!

 Hey Bruce,

Sorry for the question but what is CiA and FIBI? What kind of stuff can I expect at these meet up? Also do I need to be a member to attend?

Thanks again!

Sounds good Mark...always a good thing to build that buyers list!!