All Forum Posts by: Jairo Garcia

@Kelly Singleton thanks for reaching out. Looking forward to connecting. 

Hi Fellow BP’ers!

I'm looking for wholesalers in Riverside County to add to my network. I have submitted offers, however, it is VERY competitive when you're only working off the MLS. I want to expand my network to include those with off market listings to reduce some of the competition. I have a HML and can close in 10 days or less (assuming no major issues: i.e. a clear title, accurate escrow instructions, no restrictions on inspection/appraisal, etc). My focus is on 2/1 through 4/3 properties that are less than 2,000 sq ft. If you have an email distribution list, please add me (see email address in profile, PM me or post to this thread and I will reach out to you).

Thank you all!

Aaron Mazzrillo Leonard L. Hank you for your detailed responses! I was looking to get into MFU's in Hemet because of the cashflow potential but after reading some of your posts I'm going to look elsewhere. What are your thoughts on Corona? Although prices are high I feel that during a market correction people from Orange County migrate to Corona because of the proximity which should help in propping up rental rates. This is just a theory from a newbie though.

Kevin Crowell I live about 30 min from Hemet and started looking at MFU's in the area. Feel free to PM me if you have questions on the area. I've lived out here for 10+ years.

@Account Closed did you ever receive any feedback on AFN? They were recommended to me by my real estate agent for an investment property. They were highly rated on yelp and the loan officer I spoke with was knowledgeable and offered various products. It almost seems to good to be true.

@Eric H. great job on the reno! Also, thanks for providing the list of lessons learned! I appreciate the oppertunity to learn from the work of others.

@Mitzmichael Sumilang welcome to the site! I too am fairly new to BP. Not sure if you had a chance to read it yet, but the beginners guide is a great resource for us newbies.

http://www.biggerpockets.com/real-estate-investing

To echo @Roman M. it really depends on your goals. At the end of the day a 1031 exchange is simply a way to defer taxes to allow you to reinvest the entire proceeds into another investment. Contrary to what many people beleive, a 1031 exchange does not eliminate your tax liability, it allows you to defer the tax payment so that you can continue to grow your portfolio/business. Whether you do it now or later the tax man always gets his cut.

@Dave Anstatt Hi Dave. Thank you for that detailed response on your experience with auction.com. I had a question for you, during the 9-12 months your properties took to close, how much of your cash was actually tied up? was it just the EMD or was it the full purchase price? It looks like it would be just the EMD since you used hard money on your first purchase and it took nine months to close but I wanted to confirm.

Thanks!

@Dave Toelkes thanks for clarifying @Dave Toelkes!