All Forum Posts by: Jason Hastings

Looking to connect with wholesalers in the LA area. Off market properties in the Beverly Hills, Hollywood Hills, West Hollywood, Encino, Sherman Oaks, Studio City areas only.

I currently work the east LA area as well. I'm on a team and we have active lasting in the Silver Lake area. Currently I'm working with 2 investors in that area. Silver, echo park, Atwater village, Eagle Rock etc etc. If you would love to chat more please PM. 

Thanks

Jason

Hi Fred, I'm an agent in the Weho/BH area. I have an investor/developer that I work with on projects. I find him projects, manage them and resell them. He funds the deals. We are very picky but I would love to be added to your list when you have properties come available. Thanks! Jason

Hi James I currently work in the Los Angeles area as an agent with the John Aaroe Group. I specialize in the the Hollywood Hills all the way to Bel-Air, but I also work the west side as well. If you want to chat send me a message and I'll send you my phone and email. Also if you ever have any questions feel free to contact me Thanks Jason

I'm an agent in the BH/Hollywood Hills so I'm a little bias but what an agent does bring to table is several things. They help screen potential renters for you, which is very important because there are professional squatters out there and the laws protect them over you. Most brokerages have clients ready to rent that are trust worthy. For contract purposes they can protect you much more. All brokerages deal with rentals all the time and usually have a lawyer they work w to help w the contacts and the eviction process if it ever came to that. Typical commission is 5-6% of the total years rent, but that can be negotiable. Example $10,000 month. $120,000 years rent is $6k commission that the agent would then split w the other agent that brings the renter. It does feel like a lot to give away up front but you are more protected. If you opt to do it yourself, be very cautious on the background check and screening process. If you get a bad tenant it can be very difficult and costly to evict them.

Pretty much what everyone else had said. An EU letter is kind of the official letter hat shows what you really are qualified for. Anyone can get a lender to "pre approve" you for whatever amount. The EU is as close to what you truly qualify for. Like someone else had mentioned. Use an agent, costs you nothing. Their commission comes from the sellers end anyways. If you need help with that, let me know. I do work in the Los Angeles area, even headed out to an inspection myself in the valley. I'm sure others can as well. Also writing a letter to the owners about who you are, try to connect w them. If you're just a investor who is faceless, they could chose a different offer from someone else who they feel connected with.

I am licensed in California, I mostly invest my own money in the Dallas area. I work with a developer in the LA area. I feel there is NO Cons on getting licensed (expect for the time put in to study and pay for your exam). You learn the state laws and regulations, the laws on being a landlord and eviction process. Did you know, there is no such thing as Mortgage in California ... You have access to MLS, which isn't as big of a deal as people make it out to be. BUT what the MLS does do is give you a lot of information that can be used to contact owners, know what their loans are if you are trying to find off market properties. If you work with a brokerage you will be able to network and find off market listings, learn from successful RE agents. If you flip you now have a pool of potential buyers, if you rent you have renters. To me it's a no brainer, it's adding a very powerful tool to your investing. Most people who are against getting their license, don't have a license. They're not speaking from experience. The whole RE world is constantly evolving and changing, being up to date with the current laws and regulations is important. You will learn more and be more confident in your RE investing career, speaking with people, and you will be taken more seriously. Why not save 2-3% when you list your own house that you just flipped and listed...Knowledge is priceless, use it as an excuse to learn more.

I am licensed in California, I mostly invest my own money in the Dallas area. I work with a developer in the LA area. I feel there is NO Cons on getting licensed (expect for the time put in to study and pay for your exam). You learn the state laws and regulations, the laws on being a landlord and eviction process. Did you know, there is no such thing as Mortgage in California ... You have access to MLS, which isn't as big of a deal as people make it out to be. BUT what the MLS does do is give you a lot of information that can be used to contact owners, know what their loans are if you are trying to find off market properties. If you work with a brokerage you will be able to network and find off market listings, learn from successful RE agents. If you flip you now have a pool of potential buyers, if you rent you have renters. To me it's a no brainer, it's adding a very powerful tool to your investing. Most people who are against getting their license, don't have a license. They're not speaking from experience. The whole RE world is constantly evolving and changing, being up to date with the current laws and regulations is important. You will learn more and be more confident in your RE investing career, speaking with people, and you will be taken more seriously. Why not save 2-3% when you list your own house that you just flipped and listed...Knowledge is priceless, use it as an excuse to learn more.

Originally posted by @Richard Henry:

I am in Tuscaloosa. There was more opportunities than I knew what to do with after the Tornados here on 4/27/11. When someone gets a 100% check from insurance and the house only needs 30k to be fixed, you can find many good deals. 

Learning the insurance side is a big key. 

My only regret after the major storm here was not buying more properties. 

 Thanks for the info! How did you contact these people? I feel like it's going to have alot to do with timing as well. Any advice is much appreciated

My question is:

Is buying properties that were recently hit by floods because of the crazy weather that the Midwest have been hit with, is this something that is worth looking into?

It kinda seems like a double edge sword to me, people's homes have been lost to tornadoes or flooded out. It's a terrible situation for these people, but does it does create opportunity? I know these homes need to rebuild and basically I am seeing if it is a area to look into more?

Finding flooded homes, buy them, fix them and put them back on the market. Thoughts? Am I crazy or is there good opportunity? Part of me feels bad for looking for opportunity when someone may have lost everything ... but then again so is buying foreclosed home.