All Forum Posts by: Account Closed

Hello Everybody,

I'm going to invest for the first time for my first flip in Stockton and I am trying to do a market feasibility study for the region, but I'm lacking economic and market information.  I really don't trust websites like Zillow.  I keep coming across county statistics instead of the individual city statistics. I could see the statistics for homes sold by doing my own searches of sold through Metrolist.  What websites do you guys use to find about how the market and the economy is doing? 

P.S. Yes, I'm looking for a shortcut with pretty graphs and etc to help me convince my investors.

Hey Alice,

If your working in San Francisco, here are the top brokerages off the top of my head:

• Vanguard Properties
• Zephyr 
• Pacific Union 
• Climb
• Cold Well Banker
• Paragon
• Keller Williams (new)
• Engel & Volkers (came back)
• Century 21 (west) 
• Barbagelata (west)

I think Keller Williams, Century 21, and Coldwell Banker are the only brokerages to also be found on the peninsula.  Keller Williams has a huge event called Mega Camp where you can learn from the best agents in the country, which is invaluable! They also do have teams, but I'm not sure how hard it is to shadow or join. Keller Williams seems to have a good online presence and culture.

Hi all,

I want to syndicate a deal with 3 investors to flip a fixer. I personally won't be putting in any money. How do I get money for putting together the deal?  I did hear about a sponsor fee, promote fee, split above preferred return, management fees, and etc, but I'm pretty confused on how to structure it with a flip. Are there typical fees?   

 Is there a deal structure excel available on Bigger Pockets anywhere?

Any help would be great!!

P.S. I'm not sure if "syndicating" is only for commercial real estate.

Hi everybody,

I wasn't able to find too much information about the topic, but I know the traditional career path to becoming a Commercial Real Estate Developer (i.e. apartments, hotels, office) is 

1) Networking to get a job with a real estate development company or if all else fails, get an MBA/MSRED to get into a real estate development company.

2) Work and Gain Experience 

3) Go out on own, make your project, and profit.

I was wondering if there is a second path to becoming a commercial developer by starting with flipping homes instead.  

WOW that was good information! More than I can ask for! Thanks Colin and James! =D

Hello agents,

For regular home buyers and sellers, I use a set of pre-qualifying questions such as:

1) Why do you want to buy? What's your motivation?

2) When do you want to move in?

3) What type of home do you want? 

4) Where do you want to move?

For Investors, what types of pre-qualifying questions do you ask for your investors?

Also, do you give a buyer's presentation or make them sign a buyer's agency form?

I apologize if this question is stupid.  I'm a newer agent and there is usually nobody in my office that I can ask because nobody actually goes to the office. 

Thank you sooo much! That was great information!!!!! 

Hello,

I'm a really new agent in San Francisco and I usually find vacant homes, while door knocking.  The neighbors or the mail man inform me about the vacant homes, but had no additional information about them.  

I found this one vacant property that was so messed up that the stairs leading to the doorway was caved in.  Garbage was pressed up against the windows from the inside and paint is chipping off the exterior of the home. The area is generally nice and I know the homes go for about $650-$850 and that this home would definitely grab a high price if it was remodeled.  

I looked up the information through the title company regarding the owner, but the site address and mailing address was the same. 

I tried white pages, zaba search, and spokeo online to look up the phone number, but nothing comes up.  Spokeo showed that the owner was 83 years old.  I also used Cole Information for cell phones and the land line, but the address doesn't come up. 

Any other ideas to contact the owner?