All Forum Posts by: Jason S.
Jason S. has started 11 posts and replied 399 times.
Post: your thoughts on renting rooms vs whole house
- Investor
- Diamond Bar, CA
- Posts 446
- Votes 233
I believe that in CA you can have up to 6 unrelated individuals in a home. This is an outgrowth of the under 6 mental health homes and care facilities that do not need a permit (though they cannot be within, I think it's 500 feet of each other, but I digress)
In Riverside, CA this is absolutely true because it is commonly done with rentals near UC Riverside and I have confirmed it with City planning...
Yes, there are codes that restrict to 2 persons per bedroom but this is rarely enforced in Southern California - OK I will say I have never seen this enforced in SoCal .
Post: Colleague Requests
- Investor
- Diamond Bar, CA
- Posts 446
- Votes 233
You know......
If I would have just read this:
http://www.biggerpockets.com/blogs/1/blog_posts/5001
I would have understood it all.
I think I have to look around a little more.
Post: Colleague Requests
- Investor
- Diamond Bar, CA
- Posts 446
- Votes 233
I don't know.
I like having a colleague in order to communicate with each other - but following each other - what does that mean anyway? I am not really interested in everything they do - just want the window open to communicate.
So to me - Colleague is fine.
But to follow? Just because we work together does not mean we are going out for drinks...
Post: Colleague Requests
- Investor
- Diamond Bar, CA
- Posts 446
- Votes 233
OK - I started to follow and sent the colleague request - then went back to unfollow that person - is the colleague request with message still sent and active?
Post: Determining the wholesale offer on an REO
- Investor
- Diamond Bar, CA
- Posts 446
- Votes 233
Originally posted by Juan Michael:
Indeed I did.
Care to summarize?
Post: Determining the wholesale offer on an REO
- Investor
- Diamond Bar, CA
- Posts 446
- Votes 233
Well Will your status says to ask you how to buy before the MLS - so here it goes.
How are you buying before the MLS?
Post: Contract/Form Software
- Investor
- Diamond Bar, CA
- Posts 446
- Votes 233
Originally posted by wheelhouse:
I guess everyone else already knows this - but I certainly do not, so I have to ask. How do you turn the PDF to a JPG - and retain sizing and quality?
Post: Has anybody heard of this
- Investor
- Diamond Bar, CA
- Posts 446
- Votes 233
It's hard to trust anyone these days.
The original post did say that they were asked to pay $3,500 when the deal was complete - so from the original post they are not asking for anything up front?? Clearly if they are asking for any money up front I would say that it sounds "scammy".
There are posts on this forum that discuss buying a home through buying the note - so as a twist on buying the home and just buying the note - this is possible. Though it is much more difficult to go buy a specific note. For example it is easier to find a note for sale then contact the homeowner than find a homeowner and then track down a willing seller of the note.
The issue - are you being approached by a legitimate company or a scam company using a seemingly legitimate scheme?
That's always the big question.
Post: Direct Marketing results
- Investor
- Diamond Bar, CA
- Posts 446
- Votes 233
Originally posted by Michael Quarles:
So when they do call and are in fantasy land ask them if they either are looking for more investment property or if they help people buy..
Congrats
Michael
Great advice. Build relationships - that's where it is at. A friend of mine through letters met an investor, no make that a new friend, who ended up financing many of his deals (we're talking tracts, subdivisions) and mentoring him for years. This friend of mine was already a millionaire, the one he met, well, had much much more than that - all from a marketing letter.
Post: Presenting deal to a lender?
- Investor
- Diamond Bar, CA
- Posts 446
- Votes 233
Originally posted by Jeff Linder:
As a new player most if not all lenders are going to want you to have some money in the deal. You have self proclaimed that you do not have experience and you do not yet have your first deal. This will cause most to shy away from funding you.
It is admirable that you wish to jump in - are you confident that you can identify a deal? You are starting correctly by asking at this forum - there is a wealth of information to be found.
You asked about presenting the deal to the lender - the first question to ask is what is the criteria for lending from your prospective lender. If you are to approach a lender to borrow then you want to know there basic criteria in order to know if your deal "fits". Different lenders have different ways at looking at a deal - but most are going to want you to have some money.
Have you considered wholesaling or bird dogging for investors in order to learn not only to be certain of how to identify a deal but also to make some money - and then take this earned money putting deals together to strengthen your case to your lender - showing both the ability to identify a deal as well as have some of your own money to put "on the line" also?