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All Forum Posts by: Toni D.

Toni D. has started 22 posts and replied 87 times.

Post: how good is this flip deal ?

Toni D.Posted
  • Rehabber
  • Fillmore, CA
  • Posts 116
  • Votes 11

Larry,
This is how we calculate a property to see if it is viable. Add 10% front end(buying) rehab cost, 10% add to back end (selling) this will cover your 6 mos holding cost & commissions, utilities, etc. If the net profit looks good, we take the deal. You either add in your profit or use the calculation to determine if X amount is good for your first! Our first was only $15K, but we learned alot & closed within 90 days! We have always bought low & sold low & closed our deals within 90 days-from purchase, rehab to selling.
We are very careful with our comps, must remember to compare apples to apples & very close, usually on our MLS we do a map comparison for less than half a mile on the same street or nearby. Zillow is off by $5-10K higher, so we use that besides our MLS & calculate it to be approximately $10K less than what zestimate says, to be on the safe side.

Post: Best Foreclosure Listing Site

Toni D.Posted
  • Rehabber
  • Fillmore, CA
  • Posts 116
  • Votes 11

Realtor.com usually have all the listings that are listed on MLS.
HUD homes are restricted to HUD Brokers & their Agents, so if you are interested in any property contact a HUD Broker in your area. hudpemco.com & pick your state.
Choose investor category so you dont end up with regular listings. There are some great deals, but looks like HUD is holding back their inventory.

Post: Private Money Blueprint

Toni D.Posted
  • Rehabber
  • Fillmore, CA
  • Posts 116
  • Votes 11

Ryan,
Thank you so much for your feedback. I was hoping that BP will organize a 2 day conference, hoping I can educate myself regarding private funding there. Private Funding is the key core that I am working on. The 3 day event is $997!! I have till end of May then price goes up, cant remember how much!
Yes, I agree with you that the SEC really scares me & I dont want to do anything to red flag myself!
I guess I will keep asking or check the resource files & see if there is info regarding Private Funding!
Thanks Again.

Post: S Corp in CA - can we invest in Texas

Toni D.Posted
  • Rehabber
  • Fillmore, CA
  • Posts 116
  • Votes 11

Hi Chris,
We are active buying properties in TX with our S Corp. I know in PA, the paperwork is really easy & live person to guide you through a Foreign Status! So I'm guessing TX is the same.
Thank you for your feedback.

Post: Private Money Blueprint

Toni D.Posted
  • Rehabber
  • Fillmore, CA
  • Posts 116
  • Votes 11

There is a 3 day event presented by Susan covering Private Money Blueprint & wondering if any BP have attended any of her workshop. If yes, did you find the list of private lenders specifically for your state helpful.
Does anyone have any sugggestions for CA private money? I want to be sure that I am SEC compliant in CA.
Thank you!

Post: How do you feel about using a hard money loan for your investment?

Toni D.Posted
  • Rehabber
  • Fillmore, CA
  • Posts 116
  • Votes 11

Hi Jeff,
I did my research for HML in Souther CA, but have not met you or spoken to you yet. 12% is a good rate, 3 pts is also good. We have cash to do only 2 props at the same time, so we are looking to buy 3, this is where the HML will come in handy for us. If we net 20-30K each deal with HML, we'd be happy! What would be great is to find one who gives 100% & split 70/30, plus interest & points. I dont mind spending no money to make money!
Toni

Post: BiggerPockets Real Estate Conference: Is it time?

Toni D.Posted
  • Rehabber
  • Fillmore, CA
  • Posts 116
  • Votes 11

Bryan is correct that not everybody has seen this thread, as I just am reading it tonight! I dont get to read it everyday!
A survey to members would be a great idea! Looks like my comments are a bit late, but I did express my thoughts!
Las Vegas would be great, LA even better, closer to me, LOL! Sun-Tues wuld be perfect, hotel rates are cheaper!

Post: BiggerPockets Real Estate Conference: Is it time?

Toni D.Posted
  • Rehabber
  • Fillmore, CA
  • Posts 116
  • Votes 11

Josh,
If your event is as informative & successful as BP forum is now, your conference will ROCK!!!!

1) If BiggerPockets put on a conference, would you want to attend?
YES!!

2) Would you be willing to travel (fly) to attend such an event?
Yes, but not too far as there is a need to adjust to time difference, especially 3 hours! The cost of flying in a day earlier to adjust is additional monies.

3) Do you think 2 days would be adequate for a first shot at it?
2 days would be perfect, otherwise it could be an overload

4) What kinds of ideas do you have for sessions?
My thoughts would be in categories- beginner-no experience, no flips or buy & holds, etc, complete virgin, sessions or education would be based on that
medium experience-someone who has completed 3 or more-topics geared to that group
advanced-same here too
Private Funding is a real big topic.
Basically attending different sessions, but certain topics require more time than others. Cant seat for the entire time, would lose the attendees, moving from room to room.
Bottom line, topics that we can run with when we go home!

5) What would a BP conference look like to you?
Please dont use WF or BofA or any big banks because dealing with big banks on a daily basis havent convinced me that they are willing to work with consumers. I'd prefer to hear from some HML & Private Money speakers who actually can explain to us what they are looking for when they are approached by us. Possibly Credit Unions & Community Banks who have worked with RE Investors & share their criteria.
Think I gave you feedback for this in the last question.

6) Of the real estate and other events that you've attended, what is the one thing that you've liked the most?
The educational part from experts & experienced investors from different parts of the country

7) The least?
Bringing in speakers whose goal is only to sell their products!!!!

Feel free to add anything else to your post . . . I'm just looking to determine the level of enthusiasm and to get some ideas from all of you.
For me, personally it is how to find private funding because I realize that our own cash can only do 2 deals at a time, so now we are looking to flip 3-4 at the same time. In order to accomplish this, I need to learn how to find private funding.

So . . . are you psyched?
1000%

Debating to attend a 3 day Private Funding event in July, so if BP is having a conference, I'd forgo this, since it will cost me a lot of money! So I hope you can organize this soon! Will be in Hon & Kaui from end of Aug to Mid of Sept, hint, hint, LOL!!!
Thank you so much for your BP Forum!! It has helped me with our Investing Journey!!!

Post: Intro and my properties

Toni D.Posted
  • Rehabber
  • Fillmore, CA
  • Posts 116
  • Votes 11

Aloha Zac,
Wow that is great! Welcome to BP, I love it very much! Have learned alot reading all the threads & different forums!
Wish our prices in CA was that affordable! You have 2 great Buy & Holds!!
Enjoy!
Toni

Post: S Corp in CA - can we invest in Texas

Toni D.Posted
  • Rehabber
  • Fillmore, CA
  • Posts 116
  • Votes 11

Brian,
Thank you for your feedback. Tried calling today, but was on hold for a long time, so maybe I will email them.
Want to venture out to TX, IN & PA for investing. Heard IN doesnt require to register, hard to believe!