All Forum Posts by: Jeric L.

@Isaac Lipscomb, OC has a lot of great REI clubs you can go to and really educate yourself about wholesaling. You will also hear other options in creating an income stream through investing. I strongly suggest to look into these clubs and dive into the education, learning, hearing the experiences of others. It is also a great tool for networking. Good luck and happy investing!

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Orange County, California

No rental restrictions per HOA. The only that is restricted is to not add the Coachella Festivities in the listing description in MLS. If you're interested, please contact my agent Marlene Ruttenberg:

Marlene Ruttenberg

Realtor- CalBRE#01982888

73-725 El Paseo Dr. Ste 23A

Palm Desert, CA 92260

760.574.7662 (C)

760.660.6445 (F)

[email protected]

www.MarleneRuttenbergRealtor.com

Thank you for your interest!

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Property is located in PGA West Stadium, with great golfing amenities! Unit is nearby the pool, with a 2-car garage detached. Other than the 3 bedroom, it also boasts of the large bonus room. Great investment for Airbnb, for all the music festivities in La Quinta/Coachella Valley. Upgraded laminate flooring throughout, updated to modern kitchen cabinetry. Added ceiling fans in the living room and den. It's currently listed with Windermere Homes & Estate, contact Marlene Ruttenberg. Click on the link below:

http://www.realtor.com/realestateandhomes-detail/55560-Southern-Hls_La-Quinta_CA_92253_M18016-69700

0 Votes

Originally posted by @Dwight Rigel:

There are two distinct differences in insurance policies while home is vacant and being rehabbed. It is important to know which you should buy as one will typically not offer liability protection if you are acting as the GC and it's nice to have in case something were to happen.

Typically the deciding factor is whether or not there will be structural work (moving load bearing walls, etc.). The two options are Vacant and Builders Risk. Vacant will typically be underwritten and accepted by carriers that offer vacant policies and include premises liability. If it's kitchen updates and flooring you will get a better price and coverage by using this type of policy. If on the other hand the carriers listen to your project and decide you only would qualify for a Builder's Risk policy then you will need to ask if they will provide liability based on your circumstance (are you using an insured GC other than yourself or will it be you doing the work.

Once you know which see if you can get a DP3 or Special Form rather than a DP1 or basic, if not shoot for DP2 or Broad Form. The Special and Broad cover more types of losses and are typically a replacement cost basis rather than a depreciated settlement but make sure of that as that part can be endorsed on or off.

With all of that being said markets are different and appetites from carriers are different around the country. Be sure you have a record (email) of what you told the agent or company so if a claim occurs you have proof that you were honest and forthright in your description of your project.

Good luck and have fun.

Great insights on property insurance, very helpful! Thank you @Dwight Rigel!

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@Nick Hedberg Thank you for extending the invite but I am sorry for not making it. Please always add me to your list as I want to meet other successful investors. Let me know when is the next one.

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Los Angeles County, California

Hi @Donnie M., can you send me more pictures to my email at [email protected]. This looks interesting to me but I need to run this with my partners. Also, need to know if have the comps as I need to know the ARV on this property.

Thank you for your time!

Jeric Leviste

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LA market is very competitive but it doesn't mean that you will not find great deals. That goes from LA county to San Bernardino county. I think there's still plenty for everyone who's in wholesaling or buy/flip, buy/hold. I suggest you being a newbie, do attend some of the local REIA and it's great help to educate more of the investing field and networking platform. Check Meetup.com for all surrounding clubs around you.

1 Vote

Los Angeles County, California

I agree with @Luke H. to approach the owners. Also keep in mind if you do the contract, it's either an assignment or double closing. This scenario is assignment if you already have a cas buyer in mind. Good luck @Kyle Madero

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@Joshua Huddleston I can only vouch for the ones I attended and currently part of, but it's quite a distance from you. I recommend to check meetup.com and see what clubs or associations you have close by you. Good luck on your endeavors!

0 Votes

Los Angeles County, California

Welcome to BiggerPockets @Amanda Larson and @Jaime Sicre! Joining the meetups local REIA is a great way to start and knowing people in the industry. REI is vast, not just through buy/sell/flip or wholesaling. Just listening and meeting people in those meetups educated me more and learned more. Good luck and may the year of 2017 be a fruitful one!

0 Votes

Orange County, California

All Forum Posts by: Jeric L.

Jeric L. has started 3 posts and replied 36 times.

Post: New investor with ALOT of questions

Post: Landlords: $300K Investment Condo in PGA West La Quinta, CA

Post: Landlords: $300K Investment Condo in PGA West La Quinta, CA

Post: Getting home owner's insurance while rehabbing

Post: Networking - West Los Angeles

Post: Phenix City, AL SFH 3 BED 1 BATH $23,900 New Roof, HVAC 7 yr. old

Post: Wholesaling In Los Angeles

Post: First possible wholesale deal. Need help.

Post: Which Real Estate Club Do You Attend?

Post: REI groups in Orange County, CA?