All Forum Posts by: David B.

@Brian Flack

http://www.biggerpockets.com/files/contracts/categ...

There are two well reviewed contracts on the first page under Bigger Pocket contracts. I have not used these yet or had a CA lawyer look them over but my guess it they would be fine. It's always wise to double check though. 

Good luck !

Hi Rob, 

It's a SFH located in LA county.

Hello everyone, 

I started a direct mail campaign a little over a month ago. Some good leads are starting to come in and I might want to lock up a property ASAP. Does anyone have a wholesale contract (that works in California) they would be kind enough to share ? 

Thanks, 

David 

Hi Ariel, 

I'm also from LA and was frustrated by the high prices in the city and looked out of State. I've explored a few options including Memphis, Kansas, Milwaukee, Ohio, AZ, NV, ect... 

If you decide you want to stay closer to home the Inland Empire could be an option for you as well. 

Based on what some fellow BP members have shared I'd personally avoid the Turnkey route. I think if you find a good outfit you can definitely make money and they will make your life a lot easier, as well as save you time. That said if you put in the work and establish a solid team on the ground I don't think it's necessary to use a Turnkey provider. I am actually in the process of putting together a team of people myself in hopes of cracking the Milwaukee market in the next couple of months. 

If you PM me maybe we can jump on a call or grab lunch and help each other through the beginning phases of the process. 

Good luck !

Thank you all for replying to my questions. I ended up making a few calls and was able to get answers. 

Two of my target markets are CA or CO. In CO the county I was interested in had all the information available online for free download directly off the website. I believe it was the Tax "Assessor" website. 

In CA the county I contacted was a bit more complicated. The list was about $40 but from what the guy on the phone told me, it seemed unmanageable. It is a list of every single property in the county that has been delinquent for the past 3 years along with lots of data about each one. He said the list was so large that I would need a special database to run and download the information. I'm not sure how accurate that is but either way it sounded pretty discouraging.... 

I have been checking out a few providers for local and toll free number services. I have looked at Ring Central, Evoice, Grasshopper ect...

The Google ad section brought up a service called http://sonetel.com/ . They seem to offer REALLY cheap rates starting at 99 centers per line. Assuming you are not a high volume outfit I think it is a much cheaper option. Any experience or opinions ? 

Hello BP,

I wanted to see what kind of experience people have had marketing to tax delinquent properties using lists from sites like Listsource/AgentPro VS direct lists from the county.

I understand the list direct from the county will probably be more up to date but is it worth the extra time to obtain it, pay for it, and sort it ? 

Also, how easy are these to get from the county. Do I just call the tax office and tell them I am looking for a list of "Tax Delinquent Properties" and they will know what I am talking about ? 

Are you able to have then separate land, commercial, residential properties when you get the list from the county ?  

Thanks !

David 

Thanks @David Friedman . Yes, I understand 60k is a bit limited. I still don't get how some of the investors on here went from 0 to 100+ houses in a matter of a few years. No way they have 50k to throw down on each of them. For the most part seems like they did't all start out with hundreds of thousand or millions in capital. What am I missing ? 

Hello again BP !

This is my second post now. I have to say I am really glad I found this site. Everyone is amazingly helpful and there is a wealth of knowledge to be had on here. My initial idea was out of state investing through a Turnkey company because I thought the Socal market was going to be too difficult to enter due to the high prices. After a handful of replies to my initial post and some private messages I realize it is doable. 

Does anyone have any specific areas in Socal that they have found to have good appreciation, cash flow, and a purchase price of under 150k  ? I've heard a lot of talk about the Inland Empire so I'll definitely check that out to start.  

I just listened to @Aaron Mazzrillo podcast (#37) and this guy has things figured out pretty well. He has really learned to automate his life as much as possible and generate a steady passive income. This is definitely my goal. I'd like to acquire a bunch of rentals that cash flow enough to support my lifestyle as well as create a nest egg for retirement. 

Now all I need to do is get started......

A few questions here. 

1) What is the best way for me to find deals ? Would you guys recommend using a wholesaler ? If yes, does anyone know some reputable ones they can send my way ? 

2) I guess the real kicker is capital. I know everyone on here did not start with loads of cash. How am I supposed to leap from from property to property without running out of cash QUICK  ? Say I have 60K to start out with. I buy my first property for $150k. 20% down =30k Repairs = 20k. Bam! I am out of money. Is there something I am missing ? It will take quite some time for me to replenish another 50-60k to invest.

3) Has anyone had the chance to try out Ben Leybovich's program. I'm sure it is legit but is it worth the money or can I find everything I need on my own ? 

Thanks in advance !

David 

@Matt R. 

Good call Matt. I guess the great thing about those places is they are close to home here in LA. I just dont know if it will be as easy to find places that will cashflow like Memphis or TX. Any idea on that ? :/ what does AV stand for ?