All Forum Posts by: David Frandsen

@Zachary Jones One of the strategies I see working in the Northpark/Southpark areas is adding one or more ADU's to the property. If it has an alley in the back that is even better for privacy as you live in the main house.

@Luke Henderson It can be difficult to find turn key multifamily investments down here but there are still opportunities if you can add value. i.e- add ADU's; renovate units to increase rent; find zoning changes that allow you to build more units, ect. Best of luck with whatever you decide.

I second @Jason Kudo. There are value-add opportunities in CA. ADU being one of them.

I imagine @Katie Lepore might know someone. 

@Charlie MacPherson I couldn't disagree more about the role of a wholesaler. Sure there are shady players out there. When done right though a wholesaler provides a service that benefits all parties. And they are compensated for their service. When you bring value in a business setting you are rewarded. A wholesaler spends time and $$ on marketing to find distressed properties. (Not every flipper or investor wants to do this. They would rather buy from a wholesaler). The wholesaler provides value to the seller because they have a problem that needs solving (Quick sale, the house is too run down to list on the market, they just want the problem gone, ect.). The wholesaler provides value to agents because they have a pool of buyers that the agent usually does not have. The agent can "sell" to the wholesaler and still make the deal happen. Just so you know wholesaling is legal in most states and in my opinion perfectly ethical. Just my two-cents on the subject. 

I would recommend watching as much Youtube you can of Brent Daniels (TTP) to get a handle on it. 

@Mauricio Salom Shoot me a message. I may have some ideas for you. 

@Corey Terrell Sounds like not a fun place to be. Just remember you will look back one day and this will just be a bump in the road. You got this bro. If you are serious about wholesaling I can give some unvetted advice as i'm just breaking in myself but am having regular conversations with sellers. Learn as much as you can by watching TTP, Jamil, Jerry Norton, Pace Morby, Max Maxwell to name a few. If you have no money drive for dollars and call or door knock. (You can use REISkip to find the phone #'s) (True People search is free and is ok) Ask if interesting in selling their home. Lock up the house under contract at 84% of After Repair Value minus the rehab budget using the chart in this video:

 (This is the price you will have to assign the deal to a Flipper) Then subtract out your wholesale fee... this final price is what you have to get the deal under contract at. 

Remember, these are the moments you get to shape your mind, not give a F*ck and be an overcomer. Cheering you on from a distance bro. 

@Account Closed Thanks for the information. Yes it is a brand new industry so going to be some things to work out I imagine. 

I'm in contact with a real estate attorney in Southern California for a "package" to set up my contracts (wholesale). Get my LLC setup and have full access for support for 90 days. (Including references to others in the industry). I'm wanting to get my legal side dialed as I break into wholesaling but my question is what is the going rate for something like this. I want to make sure i'm not grossly overpaying.