All Forum Posts by: Jamal Wilson

Hey Jason,

I am also a new investor in the LA area. Networking events have been a gold mine for finding these types of people. I recommend searching for real estate investors on Meetup.com and you should have no problem. @Reed Goossens hosts an awesome networking event once a month in DTLA. There are lots of professionals looking to work with one another. Sinc ea lot of people on here are fans of Robert Kiyosaki Cahs flow meetups have also been full of real estate professionals offering support. Good Luck! PM and I can give you a heads up on some events.

Good observation.This is something I have noticed as well. This is how I see it:

Cash offers: Yes, these are the lowest offers. Usually, made on distressed properties and might need some rehab. 70% ARV- Repairs/Closing costs = Offer price

Bank Financing: The home would have to be in really good shape to use traditional financing, so this will usually be right around the full value of the home. 

Seller Financing: This allows investors room to get creative. The offer price can be right around 70% ARV depending on the condition of the home. Use the 1% or 2% for rents (assuming this is a rental). If it cash flows well you can sell it as a turnkey to another investor or as personal home using seller financing at the ARV. Making enough to get your original investment back (the down payment and light rehab), pay the original seller every month, and some cash flow for yourself.

I hope this helps see the picture some. I don't have a perfect calculation, but from my understanding, this is how the deal is structured. A lot of this depends on what kind of deal it is. E.g. buy and hold vs fix n flip vs short sale etc.

Yellowletters.com. I just ordered 200 blank door hangers off Amazon for 12 bucks. I can let you know how it goes. 

I have a seperate question for this thread: My mother has her real estate license. What does she need to do to gain access to the MLS? Does she need to put her license under a broker? I was considering this as one way of doing my own comps instead of bothering other realtors. I also have family members and other people I've met through networking who are realtors.

@Jazz Wilson you could offer to pay them to leve if its really worth it to you. 

Defintly playing in muddy waters here. Most experts recomend only taking cash offers. Are you willing to risk getting paid on a good deal? @Brian Pierce

Sounds like a great plan @Joshua Martin . I'm putting together a similar business model here in Southern Cal. I am also a big fan of @Michael Quarles approach. I am still researching the market, but will still do some cold calling and door knocking to get my feet wet. Good Luck! I'll be sure to follow!

I havent done any DM marketing yet, but I'd love to hear what others have to say about this. 

@Adrienne Bryson Not a bad idea, especially if it's a place where the people you are targeting visit frequently. 

 How easy is it to use your current website and CRM software? How much do you pay monthly? 

@Nettles Mason