All Forum Posts by: Hugo Zamarripa

@Aaron K. I am just curious to see why it has been foreclosed for more than 2.5 months, without any investors getting involved. I'll speak to my real estate agent and get more information. Thanks.

@Tim Herman and @Alyssa Dyer I am currently working as a project manager myself for a general contractor specializing in hotel development, I am certain I can have the subs finish probably sooner as I already know who to call. Regarding my estimate, there are a few areas where I might not be saavy in myself, however, I am hoping I can have the time to do a full in person inspection with my boss for a more accurate number. I'll speak with the realtor and see if I would be able to offer a lower number. If I can, I'll proceed and let you know, thanks!

Hello everyone,

I might need some help landing my first deal. After a few months searching online (part time) for my first new deal, I believe I have found it near the Riverside area. House is currently foreclosed at 233k, and houses on that neighborhood are selling between 302k-315k. I ran the numbers with the calculator found on the BP website, and I estimate the repairs to be 35k, closing costs 3k, holding costs 4.5k (3 months) and agent fee 9.5k. I have reached out to one of the realtors who sold my parents they're house and who we have kept a good relationship all these years with, to help me make an offer. Knowing this, would an offer of 212k be too low? Also, I have roughly around 15k, which means I would need about 25k more for a deposit. How can you guys help me land my first deal?! :) Please advise.

@Jo-Ann Lapin  flipping was definitely my goal when I took on this venture, but I have transition into learning  and knowing how to buy and hold instead. Since I do not have much experience in researching markets, I would like to start in the Riverside/Moreno Valley area as a starting point.

@May Emery  Thanks so much for your input! I have looked at going after "after market" deals especially in Riverside. Through all the reading and hearing (podcasts) I have absorbed, direct mailing is one of the best strategies to implement for after market. My first step is locating a good realtor to help me in this journey and like you said, create a list of potential deals.

My name is Hugo, 27, currently working for a general contractor specializing in hotel development. My position at this company is as an assistant project management & payroll. I've been with this employer for almost 3 years now, but at the beginning of last year I have indulged myself reading and learning how to flip or how to invest in real estate, and listening to the bigger pockets podcast throughout my commute, but I never really took action to make a change for myself to get started. This is mostly due to not having the experience to be on my own and knowing where would be a good starting point for me to begin. If there is anyone around the Riverside area, looking to begin with me, please get in contact with me. I am pretty good with dealing with contractors as that has been solely my job for the past years and managing projects. Whether it's learning FLIP, BRRR or wholesaling, I would love to connect and network to start somewhere.