All Forum Posts by: Evelyn Jordan

Awesome! Can't wait to check it out!

Hi BP Members, 

See details below for the upcoming LA Meetup set up by @Jon Huber :

Original Post:

Okay everyone!!! I did some scouting and I was able to talk with a coffee shop that will let us meet. The place is located by the Melrose Trading Post, so parking WILL be an issue, as Sundays have the Flea Markets. Try to get there early. Also, please try to RSVP here so I can try to get a rough head count. The back room space fits about 35. Indicate if it is a +1 or not. I tried to have a centralized location, as all of the investors come from all around the LA area.

ALSO... the guy will NOT be charging us to rent the backroom/theatre area, as long as we are good patrons and everyone buys a coffee and/or a bite. It is, in fact, a coffee shop. I am sure we can make this a regular meeting place, as long as we all comply.

WHERE: The Open Space Cafe

457 N. Fairfax Ave.

Los Angeles, CA 90036

WHEN: Sunday, Jan 25th, 2015 between 3pm - 5pm

VENUE INFO:

https://www.facebook.com/openspacela

http://www.openspacela.com/

Count me in !@Jon Huber 

It's great you are on your way of acquiring your first investment property! It's a big stepping stone. My husband and I recently closed on a SFR in Houston and we cannot be happier about it and numbers we see there. Houston is a great city with huge REI potential!

I know a great investor friendly real estate agent who has tremendously helped us with his knowledge and professionalism. Let me know if you want me to give you his contact details.

Good luck with everything and keep us posted on the upcoming deal! 

Evelyn

Welcome to BP @William Weeks ! Congratulations on making the decision to get started with real estate investing! Be persistent and stay committed to your goals and you will start seeing results. Texas is a great state for investors, particularly buy and hold investors. I recently started investing in rental properties in Houston and I cannot be happier with the market and the numbers I see there. Learn as much as possible from BP, surround yourself with the right people to push you forward and take action!

Good luck !

Evelyn

When putting a property under a contract and then assigning it, You do not get a comission from your broker, because you do not process paperwork as a licensee and basically you do not get involved in any transaction. The fact that you are an agent adds credibility to any business relationship and I always disclose it. 

Just to be on the safe side, and make sure you won't get in trouble in any way, call the California DRE and ask them.

Good luck!

@Jeff Greenberg Thank you for organizing another great LA Meetup! Enjoyed the presentation as well. Looking forward to the next one!

I did not mention- property is in Texas, which is a landlord-friendly state. I have not had an eviction there and I hope I will never have one, but evicting a tenant there is pretty easy and quick compared to other places.

Both the applicant and his employer confirmed that he gets paid in cash. For that reason, instead of paystubs, he gave me a formal document from his employer stating the amount of cash. I verified all of that and it seems legit. I also have bank statements showing the deposits made by the employer. 

After 5 years at their current home, they are leaving because the landlord is selling the house. 

Thank you All for all the good advice and comments. It seems like a lot of you are willing to work around the standard rules and consider  applicants on a case by case basis. 

I obtained verbal references from all provided resources and confirmed the information on their application. I obtained two forms of IDs for each applicant and ITIN number (tax returns for last 2 years). 

Considering all of the above, I have decided to approve the candidates.

I will keep you posted on how everything goes.

Thank you All again!

Best,

Evelyn

Seth, you are absolutely right. I am glad they have a good relationship with their pastor and employer, but that does not mean they will pay rent on time.  Co-signer is a good idea.

Thanks for commenting!