All Forum Posts by: Don Smith

Great job. Truly inspiring.

I have a property im about to purchase in Astoria and i need a bid for remodel

@Shaun Weekes, Thank you for your input. I will use the info you gave to take me to the next step.

Just starting out and this is my first deal. My brother in law has a property in Oregon( I live in Socal) he wants to sell us for 85,000. He paid 30,000 from bank and previous buyer paid 180,000 for it a few years ago. its a fixer upper, 2bd, 1bth, 1/2 acre beautiful lot across from a river. Comps in area are $250,000 and up. He is willing to sign title/deed to me with no money down, and i was thinking of taking a home equity loan for 50,000 for rehab and selling for $200,000. That's my 1st scenario and best option i think. Scenario 2  would be private lender which leaves me feeling insecure as my credit isnt great. My wifes is good, but she had a bankruptcy 4 years ago. 

Can he just hand over the title to me? how does that work as far as taxes? What are my chances of the bank giving me an equity loan? 

I have to move fast!!! He already has a buyer at 100,000, but wants to help out his sister(my wife) and me. 

Hi Everyone,

My wife and I are new to the Real Estate Investing world. We want to get into buy and hold down the line. We live in southern California and more than likely will be looking out of state for investing. My wife has talked about changing careers and is thinking about getting her Real Estate lic . What are the pros and cons of having a lic when starting an investment business and is it a good career in southern California?

For now it will be fix n flip. Down the road we want to do buy and hold to grove our passive income.

Hi All

My wife and I are new to the investing world. we live in Thousand oaks , ca and the homes here and around us are on the higher side.We do not have a lot of capital to work with. The other night at rei meeting someone suggested partnerships. What are the pluses and minuses of going this route? How do you find a good trustworthy partner? Is there a different approach to investing that might work? Any help or advise would be greatly appreciated.

Hi Everyone,

I'm Don Smith and I live in thousand oaks , California. I have been on bigger pockets for about 3 weeks and I am finally sitting down to write an introduction. I have been watching the podcasts and reading some of the blogs. I am blown away by all the people here that want to help others. I attended a seminar about a month ago and learned that with a 30,000 dollar investment I could learn how to flip houses. I am so glad I found this site and the people on it.

I want to learn as much as possible in the next three months. My goal for 2016 is to flip 3 houses while still working my full time Job(I'm a salesman for a dairy company). My goal for 2017 is to flip 6 homes without my full time job.

Please say hi and any tips that you can give in how to get started would be great!!