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All Forum Posts by: Eric Gee

Eric Gee has started 3 posts and replied 9 times.

Post: ​Getting rentals with zero down

Eric GeePosted
  • Carlsbad, CA
  • Posts 9
  • Votes 5

Thanks Brandon.. I went to a meetup here in SD and they were talking about all the ways to do it.  Going to keep checking it out

Post: ​Getting rentals with zero down

Eric GeePosted
  • Carlsbad, CA
  • Posts 9
  • Votes 5

I see.  was hoping it was a long term buy and hold play.  

Post: ​Getting rentals with zero down

Eric GeePosted
  • Carlsbad, CA
  • Posts 9
  • Votes 5

Great info everyone.  Much appreciated.   

Are these good for buy and hold?  

Or only a shorter strategy?  

Post: ​Getting rentals with zero down

Eric GeePosted
  • Carlsbad, CA
  • Posts 9
  • Votes 5

Hey guys..

Trying to wrap my mind around this.

I heard about concept of getting homes with no money about of pocket because you find foreclosures and (I thought the word was) assume their mortgage.

The way I heard it was that the owner moves out, but keeps the mortgage going. You don't have to put any money down because your not qualifying for the loan.

You just find the renter to now offset that mortgage.

The owner gets out of their foreclosure status and their loan is getting paid on time now. Which helps their credit.

You're not taking 20% down to build your portfolio.

He says he did it with 30+ plus homes.

Has anyone else been successful doing this?

Looking to chat with anyone that has.

Thanks,

Eric

Post: Actively doing BRRR deals in San Diego?

Eric GeePosted
  • Carlsbad, CA
  • Posts 9
  • Votes 5

Hey Guys..

New on here. Let me know if I'm in the wrong section. Just starting out. But would like to chat with others that are successful with the BRRR method here in SD. I'm in carlsbad. have about 200 to invest for now. Want to get into rentals. I'm looking for buy and hold. Ideally it would it would cash flow or at least break even. Is it wrong to think it's going to go up over the next 5 or 10 and plan for that to offset a break even cash flow?

Looking to meet up with others that are actively doing BRRR deals here in SD.

Cheers,

Eric

Post: Newbie from San Diego, Ca

Eric GeePosted
  • Carlsbad, CA
  • Posts 9
  • Votes 5

Hey guys...

Really appreciate all the info.

The blogs were a big help. Lots of condensed info for sure!

The meet and alerts helped too!

I started hitting local meetups as well.

@Jason L.  , @Account Closed I was thinking that partnering might be the way to go the first time.

Cheers,

Eric

Post: Utopia property managment?

Eric GeePosted
  • Carlsbad, CA
  • Posts 9
  • Votes 5

hahahaa....   the WORST ever!!!

Hey managed my home in 2007 and let it go to total crap!!!   I was overseas and they would tell me how great it all was.   That it was in mint condition.   Came back and it looked like a kegger party was there.

Fountain had a bucket of Trash and kids toys in it.   glitter glue in the carpet.  looked like the front door was opened by a crowbar.  This is their idea of "Shows Beautifully".

Let's not even mention that they own all the repair companies they use. Low and behold the home needed more "repairs" then rents for the first 4 months. They had 12k in repairs that needed to be done on a 7 year old home.

Then a tennant that tried to the flood the upstairs toilet 3 times was finally successful and had the entire upstairs flood and required the entire house to get recarpeted and my "friends" at utopia recommended all new toilets "which they could get and install with their company of course".   Wait.. the toilets have a different patern.  Now we need to redo the bathroom floors.  np.  Our other company can do that for you. 

We were overseas and just took them at face value "assuming" they had our best interest in mind.

Total conjob through and through!!!    Then that same tennant wanted to get out of lease half way through.    They let them off the hook IF they PAID UTOPIA a fee.   Gave back their entire security deposit and left my house thrashed.  

And they do an Excellent job of screening applicants too.   My neighbors HATED all three tennants that there were.   

If I wasn't so busy I would have sued them.  It wasn't worth the headache.

They suck!

But that's just my 2 cents.  

Post: Newbie from San Diego, Ca

Eric GeePosted
  • Carlsbad, CA
  • Posts 9
  • Votes 5

Hello Everyone,

First off.. been lurking and listening to podcasts for a while. Absolutely amazing community and and trove of information here.

Hi.. My name is Eric from San Diego. We're up in the Encinitas area.

I'm a successful internet entrepreneur that wants to take a chunck of my profit and turn it into a massive retirement via real estate using the BRRRR method.

Ive read Brandons book, The Book on Rental Property Investing and it was great. Listened to a bunch of podcasts.

I really want to get into investing in real estate. But I'm very busy building my business to boost my profits and don't have the time to wade through everything.

It makes more fiscal sense to spend the money to get the condensed version, then it does to take those countless hours away from work to learn bits and pieces here and there. I know because I've tried the bits and pieces method the past 8 months since I found BP and I still havent learned enough to jump in. What would be ideal is something similar to how an executive coach or mentor would teach you, but without the hype and BS of the online programs.

How do you guys recommend that I get started?

Really appreciate the help!

Eric

Post: 2% rule in California

Eric GeePosted
  • Carlsbad, CA
  • Posts 9
  • Votes 5

You did 14 out of state deals that you never saw?

I'm reading and listening to audibles and podcasts 24/7 here in San Diego and trying to find deals that will work.