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All Forum Posts by: Toby Johnson

Toby Johnson has started 4 posts and replied 7 times.

Post: I need help understanding

Toby JohnsonPosted
  • Real Estate Agent
  • La Jolla, CA
  • Posts 7
  • Votes 6

Hello all, I'm reaching out and being completely transparent. I need some basic help with understanding the breakdown of analyzing deals.  The reason I'm asking this is so I can better explain it to future investors.  I'm at a point where I feel like I understand and then I present something to someone and I'm at a loss for answers.  What I'm looking for is a one on one analysis breakdown.  Either over zoom or in person.  I'm in SD if that helps.  Maybe I've just had a day with way too much coffee, but I'm reaching out to my BP people for the help.  I'm not looking for classes.  I feel like if it is explained to me one time with allowing me to ask all my questions, I would understand it for the rest of time.  If anyone out there would like to help me out, I would greatly appreciate it.  Thank you.  

Post: I have some investors, now what?

Toby JohnsonPosted
  • Real Estate Agent
  • La Jolla, CA
  • Posts 7
  • Votes 6

I recently put up a post on my IG account reaching out for investors. Well, I got some interested parties that are willing to invest with me in long distance real estate. Depending on what I find, I feel I can go three directions with it, BRRRR, Buy and hold, or flip. I feel that may be an obvious thing.

My question is, what is the best way to structure my investors contract so we all get paid when the deal closes.  I understand the different possibilities with outcomes may have an affect on the contract but what have you all used for a contract?  

Looking for advice and mentoring. Thank you!

Post: Background - 90 Day Challenge - Core 4 search - OKC

Toby JohnsonPosted
  • Real Estate Agent
  • La Jolla, CA
  • Posts 7
  • Votes 6

@Cassi Justiz  Leaning towards the hard money side of things to start unless I can find some private money to help with down payments

Post: Background - 90 Day Challenge - Core 4 search - OKC

Toby JohnsonPosted
  • Real Estate Agent
  • La Jolla, CA
  • Posts 7
  • Votes 6

Thank you all for contributing to my goals. I will be reaching out to you all. 

@Eric James I understand I will still be paying taxes on my income in California.  There's no escaping that.  Thank you for the information. One of the main reasons I've chosen go to a different state is for affordability.  I'm not against investing in San Diego, I just don't have the capital to start here.   

Post: Background - 90 Day Challenge - Core 4 search - OKC

Toby JohnsonPosted
  • Real Estate Agent
  • La Jolla, CA
  • Posts 7
  • Votes 6

Hello all. I've given myself a goal. Spurred on by tired of living the "same ****, different day" type of lifestyle, I've given myself 90 days to purchase an investment property. Yes, this was also pushed by Brandon's 90 day challenge. I am a 3rd year realtor based in San Diego and have been looking in OKC. My reasoning for this is I have friends that live there and have given me some background on some areas in which to focus, as well as price and not wanting to give my profits to the state of CA. I am trying to learn more on a daily basis about the market. People keep telling me the market is crazy there. Well, the market is crazy everywhere as we all know. I'm not afraid of taking on BRRRR's or multi family. If anything, my focus has been small multi family(duplexes) and SFH. I like to say I have a million dollar mentality with a hundred dollar bank account. I have been doing my homework and learning to evaluate properties daily. Financially I'm short cash but that is one of the reasons I'm reaching out here. It's been done before with little to no money. I do have friends that have shown interest in investing but they are small investors and don't have the capital to get me where I need to be. (This is another topic that I will most likely post about, or research).

With all that said, I feel like I may be in a good place to start looking for my people.  Here is my plan as of now.  Please feel free to check me and tell me to do it differently.  

1: Find a lender - Yes I will take suggestions

2: Find an agent - Once again I will take suggestions

3: Find a General Contractor - See #'s 1 & 2

4: I think for my first property I will manage it on my own from a distance to save money. Once again, I'm sure I'll get opinions on this. I'm pretty fastidious and will keep track of my finances.  

Please let me know if I am way off on anything. 

Thank you all.  Looking forward to getting this ball rolling.  

Post: ‘What’s in your garage’?

Toby JohnsonPosted
  • Real Estate Agent
  • La Jolla, CA
  • Posts 7
  • Votes 6

@Diana Dorantes you know it’s funny that you bring this up. I’m very new in the investing game at 0 properties. I am in real estate in Southern California so I was thinking that I need a certain car to make sure I look respectable. On a side note I am also a car guy and love them. All of them. My daily is a 2012 Audi wagon. Nicest car I’ve ever owned. I also have a 1976 Datsun in the garage as a project. My recent thoughts have been, as much as I love those cars, why not sell them both, eliminate all my debt, and move forward with buying income producing properties in places I can afford. Get a whatever vehicle that gets me around for the time being and once I have a few (a lot) of properties go out and buy the cars I’ve always wanted. Of course I also look at most cars as investments. Let’s just say I’m torn on the subject.

Post: Brrrr Warehouse to live/work

Toby JohnsonPosted
  • Real Estate Agent
  • La Jolla, CA
  • Posts 7
  • Votes 6

Hello all, Had a questions when it comes to BRRRR'ing a warehouse. I'll try to give you as much background as I can. Feel free to direct me in the right direction if this has been covered before. Here we go.

Background for Background sake: I am a fairly new Realtor (3rd year) but want to get into flipping and BRRRR'ing houses. I also have a side hustle of woodworking. It's not the main thing but I have quite a few tools that take up space. Hopefully you can see where this is going. I recently got kicked out (today actually) of the place I was living. I'm fine and this is the exact thing that a person needs to find even more motivation. With all that being said here is my thoughts.

I'm in Southern California north of San Diego.  I've located a warehouse that qualifies as a live/work space.  It needs work and I will have to jump through some hoops when it comes to planning and parking but from what I've found out so far I think I can do it.  My plan as of right now is to put some sketches together of rough plans and present them to the planning people of the city.  If I can make this all happen, I have a place to live, my tools are safe and I can work, plus I have a friend or two that are willing to rent floorspace from me, thus limiting my expenses.  

My other question is financing.  I need it. Where to start.  I was going to talk with our in house lender in my office and go from there.

I need thoughts, guidance, next steps, things I missed from the BP nation.

Thanks everyone.  Toby