All Forum Posts by: Jay Orlauski

Fresno Deal Seekers is excited to be hosting the 1st Annual Central Valley Investors Summit .  Grow your network and your business while meeting other real estate investors, money partners, contractors, future business partners and other investment professionals. The day long networking event features industry leaders from Bigger Pockets and from the central valley to cover a wide range of real estate related topics including creative financing, increasing cash flow, guerilla marketing, hard money purchases, crowdfunding, non performing notes , tiny houses, self-directed IRAs and much more.

The event takes place at our very own technology “mothership” Bitwise Industries located downtown at 700 Van Ness Ave.  It's a pretty cool place that is very reminiscent of something you'd find in Silicon Valley or the Bay Area.

Attendees will be treated to professional speakers and industry leaders from Bigger Pockets such as Amy Wan, crowdfunding attorney, and author Al Williamson of leading landlord.com.

On hand will be several local food vendors during the lunch hour to provide a wide variety of lunch options. When the Summit wraps up and comes to a close, the day will be topped off with drinks and refreshments for open bar Happy Hour and will be hosted by Fresno Deal Seekers a local REIA meetup group.

The event takes place on Saturday September 16th from 8 a.m. to 5 p.m. 

Tickets are $49.99 and can be purchased at CentralValleySummit.com.

Address of the Summit is 700 Van Ness Ave, Fresno, Ca 

CentralValleySummit.com

Hi Edgar - I would love to sit down with you and talk more about your interest in real estate. Check out my profile to find out more abut the meetup group I organize each week  - I think you would really benefit from connecting with other investors - and meetup groups are a great place to do it. Feel free to reach out to me anytime if I can be a resource for you.  Have a great day!

Hi Timothy - Welcome to BP - That's pretty awesome that you're an F-35 pilot. I can't imagine the feeling of having that kind of technology and firepower at your command. Sometime investing can take nerves of steel and suspect you wouldn't have problem in that department. I am an investor in Fresno  - turns out that there are a lot of investors in the central valley. You might want to take a look at some of the local REIAs in the area and find one that fits your time schedule best - Fresno has a few of them -  it's a great way to meet not only local investors, but other people that would make great additions to your team as well other professional contacts and referrals. BP is also a great way to connect - there are a lot of helpful people here with some great information to share. I hope to see you at a meetup.. 

@Rosy Bruno - thank you for the kind words. I appreciate the opportunity to be a resource for you.   

Hi Johnny - don't be fooled by this property - it has been on the market  at least 3 different times over the last few years. This goes to auction and last time I had clients bidding on it - it went up as high as $150k before my client bowed out of it.  - you will never obtain this property for 63K  (personally I think it is misleading of them to price it at ) -  this one has "gotcha!" written all over it  -  Even after they had a wining bid - it did not sell and came back to auction a few months later - but I am more than happy to help you find other multifamily properties in the area if you're interested. 

@Kyle - thanks for the invite. I will keep you in mind for when I am in the area. Are you going to J Martins Investment Summit in October?

in reference to your comment about surrounding yourself with winners ..  they say that we are the average of the 5 people we spend the most time with .... 

@Henry - always happy to be a resource - let me know when you are ready and I will be happy to start lining up some properties for you - the inventory is low for complexes of that size right now - but  when you are ready to expand out - the market could look a lot different. I work with property managers also so I try to keep my ear to the ground when it comes to properties that are off market. 

Have you looked into Groundfloor?  As I understand it , it allows you to select specific projects to invest in - typically shorter term (6 mo - 1yr)  - but totally hands off, while still having control of what your investing in.  Check out their website to get a better idea of what they offer - I've been considering trying my hand at a couple of projects myself , but started to get involved in some other local projects instead, but I would be interested learning more about Groundfloor. 

I've hear it said many times that why not just pay someone $60 / an hour so you can continue on with more valuable tasks to do with your time - after all - we didn't get into this business to stick our heads in the toilet. That being said - I have a hard time giving up control and money to someone else for doing a job that I know damn well I can do myself. If I have the time and know how to do something - then I will do it. The other day I  gutted the sink and garbage disposal to get to a clogged drain  - what could have cost $100 and time scheduling appointments and 24 hour notice - I just fixed it with about 45 minutes of work and it was no big deal  - plus i got the satisfaction of knowing I didn't need to call anyone to do it for me.  Could I have been making $500 an hour instead? possibly - but was I?  no. Not at that moment I wasn't -  I had some free time and so I rolled up my sleeves and did it. (hint: it didn't even require a tool) 

There are times though when it makes a lot of sense to let the professionals do their thing - I will install fans , electrical outlets , toilets, garbage disposals, shower heads and other menial tasks  - but when it comes to outdoor ( high voltage) electricity , large trees, A/C work, and things of that nature  - I let the pros do the work.    

I generally will use contractors for contracting work - stuff like installing sinks and cabinets , rehabbing house and framing work  - installing AC units or hot water heaters ( though i did this once myself)  - basically for general construction. 

Hope that help some - 

I have some stories about contractors , but that could take a whole thread  -  I've had them not for show up for days at a time while promising to come over "tomorrow"  -  I've had them lave tools at the job site to get stolen ,  I've even had them steal money from me  - I've learned to put a time limit and a schedule together and have them sign it - make them responsible for completing tasks on time or get paid a reduction on the agreed to price. I've used this successfully in the past - but also lost a contractor who thought he could complete the job , but was too busy and ultimately walked away when he knew he would not finish in the time frame agreed upon.   

Personal referrals are best since you will be dealing with someone who has a known track record.   We have a few contractors that come to our meetup group - they are a great resource for helping to price out rehab jobs and time frames. My favorite contractors are the ones interested in investing in real estate - they tend to look at the project through a different set of eyes. 

Be careful of "contractors" who don't have a licence - they may seem cheap up front but can cost you thousands of dollars if things go upside down - also - you can only recover up to $500 from a handyman who is not a licensed contractor  ( at least here in California) - so if they muck something up - your not going to have an easy time recovering your money.  

ALWAYS  get at least two quotes until you are comfortable with your guy and can trust his estimate - otherwise always get a second opinion - maybe even a third opinion. Once you've worked with your contractor long enough and have seen his estimates play out  - you will have a better idea of how close he is to the mark - many contractors will low ball you just to get the job - then once he is knee deep in it - more expenses suddenly rear their ugly head ...this happens to all contractors - but the good ones will have accounted for the unknowns up front and should come in close to his bid unless something major has been discovered -  

best of luck to you - let me know if I can connect you with anyone

Hi Kyle - Welcome to BP - look at that - you came to say hello and are leaving with a bunch of homework and reading assignments ... that's Bigger Pockets for you - always looking for ways to push ourselves to learn more.  Being part of this site has been a lot of inspiration for me and I have met some really great people here - 

I look forward to hearing about your first few steps into the arena - keep us up to date and let me know if I can help you with anything in Fresno - I've been here for 17 years so I am a little familiar with the area and would be happy to help you locate something or give you some insight on any particular areas.  

Make it a great day!!