All Forum Posts by: Jered Lafuze

Hello everyone, I have some friends that just bought a house in San Diego and they had me over to give some electrical advice. As I looked in the attic, the house is clearly a flip. There are multiple code violations with the newer work. These violations are not hidden at all. As a commercial electrician I know that the flipper should have pulled a permit. But there is not possible way that it would have passed an inspection. Any advice? Thanks

@kevin fox I plan on using Duane Gomer starting in September. I don't doubt that being an agent is a lot of work. The market seems very tough right now due to the lack of inventory in the area. But it is something that I know I will love and am looking forward to getting started. In your opinion, how possible is it pursue being an agent part time?

@Luke H. If you could send me a list of your favorite books, speeches, or what you found the most helpful or actionable that would be awesome. Thanks for your thoughts.

@eric s. You do sound like your in a similar situation. My wife is a stay at home as well which makes it hard to completely transition into real estate full time. But I will make it happen. Thanks for the thoughts and good luck!

I am interested in getting my real estate license in the San Diego area. Currently I am a commercial electrical superintendent, however this is not where my passion is. I love all things real estate and would like to transition into making this a career. At this time I have no experience which I am looking at as a fresh start into being able to wisely choose my path. Without being able to quit my current job this will need to be done outside of my normal day job or would have to replace my income. I feel that my knowledge of commercial building would be an advantage in any aspect of commercial real estate. I am seeking advice, opinions, thoughts, stories, or anything that can help me understand which area to best pursue. As well as where and how I can start this process.

Thank you all for your help. He is in the process of countering the offer with a higher interest rate. And entertaining the option of rent to own because he is not 100% comfortable with owner financing.

I completely agree that 4% is much too low. This is not an owner occupant. He previously had a tenant that disappeared, had to go through court To get unpaid rent, make repairs, and is now absorbing the holding costs and wants to get rid of it. 250 might be slightly higher then other comps in the area but with the renovations done to it, the market should tolerate the price point. I have also posted this in the buying and selling forum if you wanted to check that out. I though it might attract some other responses.

Situation: A friend is selling a house in Wilmington North Carolina. He has an offer but the buyer wants him do owner financing. She offered $25k down and wants him to carry the financing at 4%. Pay $1100 per month for 72 months. Then pay remained of balance with accrued interest. Purchase price being $250000 Any advice at all will help. Thoughts on the offer? Questions he should ask to buyer? Who he should be looking to for closing documents? Insurance? Thank you in advance!

Welcome to BP!

Good topic. Being new to finding deals and investing it seems like everyone wants to buy because you almost can't go wrong. This is driving inventory down and prices up along with still very low interest rates. I will be turning my current home into my first rental in the spring and feel that the area and price are solid enough to support me through any amount of recession. The thought of having a possible downturn makes my approach more conservative then I probably would have been if I started a few years earlier. And as a result I am trying to look for areas that have a diversified economy and other factors that I feel will help lessen the blow if a recession occurs. In my opinion, Cash is king and a good deal is a good deal. If the numbers work then you should be able to ride the economy wave.