All Forum Posts by: Toni D.

In process of buying an investment from Wholesaler, a Short Sale, have cash with our Corporation, but it is a restricted 401K which cannot do partner & or have loan docs. This is our 1st Wholesale deal, but no one seems to know the process & understand the restriction we have with our 401K. It is not a self directed IRA. We are not on the Purchase Contract so trying to figure out how to close & change title the same day. Our corporation cannot loan the money to the wholesaler because its not allowed with our 401K.
Can someone send us some directions, Thank you in advance for all your assistance.

Hi,
Dont really understand what your concerns are. In CA a realtor or broker can use the MLS he has paid for to look for properties for buyers & possibly for himself/herself. The key point is disclosure in all contracts whether selling or buying. If he works for a broker, the broker will get a percentage like any of the deals whether they are for friends or clients or himself.
We have our own RE business & do investments too. We decided that agents have not performed for us, so we will be looking for properties on our own, as we belong to a very large MLS.
Hope this will clarify your concerns.

Hi,
Does anybody have any information regarding Buying Notes from the Bank? If yes, which Department would I be speaking to? What is the process & at what percentage can I purchase the existing note?
Thank you!
Toni :cool:

Hi,
How does one approach the Bank (BofA) to purchase a property that is already under but no NOD has been filed. Has anyone attempted this process?
Thank you!

We have an opportunity to work with Bridge Capital Solutions, LLC to invest in Flips in Port St. Lucie, Fl. Have anyone worked with this Co & do you think Port St Lucie, Fl is a good place to flip?

Hi Chris,
Can I get more info for your Nevada TS information, thanks!!
Been traveling so no biz on this past vacation, but back again!

Thank you all for your responses, but I wasnt questioning this company, but curious if anyone has any dealings with Strategic Acquisitions,Inc in North Hollywood?
If you have any additional info, please dont hesitate to contact or share them with me.
I also found another group called County Records Research in Huntington Beach!
Yes, I agree that its been very difficult bidding for properties, but must be out there pounding the ground.

Looking to purchase true Wholesale properties; today we had a great meeting with Strategic Acquistions, Inc & wondering if anyone has done any transactions with this company. They do all the legwork & we have the opportunity to purchase trustee properties from this company.

Thank you.

Our first deal was in Bakersfield in a very nice area behind their Jr. College. It took us nearly 8 months to finally win this bid. We thought it'd be easy since we run our own RE business, but it wasnt. The competition was & still is fierce & again finding a great RE Agent out there was not easy either!
Bought 3/2 bath, built 1954 with large front lawn & decent back yard size. Paid cash $63K. We took our Agent's suggestion & used his friend who said he had managed a crew for KB homes, which sounded very impressive, but we ended up driving up(Ventura County) more times than we wanted to & had to ask contractor to do this & that. The rehab cost -$18K. New sod front & back! New Kitchen floor & appliance, Paint inside & outside, New floor tiles-entrance & bathroom. New bathroom tiled with new water fixtures in kitchen & bath. New lighting in kitchen & entry way. Funny thing, we wanted to participate with the rehab & decided to work on the yard, so we planted seeds & grass barely grew, so we decided to hire landscaper to do the grass! We decided to stick with what we know best, RE!
The property sold for under $100K, net profit $15K. Our first rehab was not a big winner in the sense of money, but overall we purchased, rehabbed & sold property within 90 days!
We learned that we needed to find a contractor who we can trust & have done rehabs for years. Finally we did find an incredible contractor who does not need supervision. Presently he has completed 2 more rehabs for us & again the timeline has been 90 days for 2nd & 3rd rehab.
We also learned to leave all the construction to the contractor & our job is to find more properties.
From our experience, buying low & selling low has been helping move our properties quickly.
We use the same realtor who found the property sell the property for us. We truly become RE Investors, except we do our own due diligence & comps. Our entire team is a win win situation!

Do you keep up with what's going on in the local real estate press?
Yes, since we belong to CAR & NAR, we get weekly information of what's happening. Dont read the newspaper but do read online.

- Do you follow national mortgage and housing news?
Yes but not too extensive, since I like to find other good areas to invest. I also like to compare our market & the national.

- Do you track or pay attention to all the data that comes out about real estate each week?
Yes, I try to since we do some traditional RE through referral & need to be on top of the data. I need it for our investing too.

- What's the most important real-estate-related news as it concerns you?
To see what Congress is up to & our local legislation & how their bills will affect our investing. For instance, the suspension of the FHA 90 day rule or 20%, banks continue to place that rule in the process. BofA denied our buyer indicating that we didnt follow the 90 day rule & we passed the 20% rule, yet they asked no questions to us as the sellers!!!
- What about real estate and housing blogs? Do you pay attention to these?
I'm not good at blogging, BP is my first experience & I love this forum. I would love to pay attention, but I'm usually on BP just before bed while I'm travelling. So finding time is hard to do all! BP helps a whole bunch!