All Forum Posts by: Ellis Hammond

@Calvin Raab could you benefit from being in a room of real estate investors on a bi monthly basis?

I’m starting a meetup in the new year and will need consistent help with promotion. 

In return, you will get the opportunity to network with local investors.

Reach out if you would like to help.

Also, what college are you at?

@Jake Diamond raising private equity for other people's deals is a good way to learn more about commercial sized deals without having to take on all the responsibility. Joining a good mentoring program to learn for the next year is also a smart move. 

If you are brining in other people's money especially but even if not i think its really helpful to have a tribe of mentors and connections if you are going to try and make it through real estate. don't hesitate to invest in yourself. 

@Uzi Pablo on second thought fly to LA this weekend and join me at the intelligent investors conference with Hunter Thompson and a ton of other successful real estate investors! 

This is some of the best info (no sales pitches just the good stuff) from a ton of proven men and women in this industry. We can meet in a dark room to hide your identity haha!

Id also recommend his podcast. Its high level info from very sophisticated investors. its called cash flow connections. 

@Jake Diamond I think it depends with what your focus is.

I’ve invested in both single family and commercial and for me personally and my growing business I’m soley focused on bigger stuff. That’s why if I was in a position like yourself I’d cut the slack and move forward but I don’t even know where you are from haha.

Please reach out directly if you’d like to connect more. Cheers brother.

@Jake Diamond do you like real estate investing? Or just making money? 

you could place some long term debt on these babies, pull out equity and start investing that cash into a well diversified portfolio of cash flowing properties. Love to connect if you are ready to start seeing deals. 

the LOC is a good idea if you want to make all cash offers on single family homes but you said you want to go bigger! so my thought is sell or pull out cash by placing long term debt on them.

@Kevin Miller were the units currently rented? how long did it take you to vacate the units and then do the rehab? 

did you use a property manager to help with rehab? 

Id love to speak more. Lets connect. I have equity partners ready to do some deals. 

@Meng Long think about it this way when looking at deals... 

if you are willing to pay the rest of the mortgage, considering you are buying a duplex, then most likely the renter after you will also be willing to pay that rent. But also take into consideration though that if you aren't living in San Diego three years from now then you who will manage the property? that will significantly cut into your cash flow if you have to hire PM. 

I still think the VA loan is something to take advantage of but signs do show that the SD market is slowing down and SD is a cyclical market historically, meaning what goes up will come down. ultimately, if you are buying for the long run and plan to keep this place for 20+ years then don't worry about cycles, just buy smart.

Feel free to send me properties you are looking at and Id be happy to help you run some #'s or connect you to a agent i trust to help you get into the right property. 

@Meng Long @Chace Fraser hit it on the head.

Some follow up questions to better help you though...

When you say cash flow, what are you looking for? Bc technically you will have to live in one of the units. What is max “rent” you are willing to pay yourself?

You won’t be able to find a duplex for one unit to cover the mortgage but could possibly have a scenario where you pay yourself an affordable rent.

What part of town or parts of town could you live in?

Do you have capital to put down more than 0%? Would that increase your purchase price?