All Forum Posts by: Jordan Bigler

I know for a construction loan you might need a contractor to sign off on the cost estimate for the build. Then the bank may loan you the construction loan. 

Send me a private Dm, my boss is a contractor in the area, we might be able to help.

One caveat I will say is that cost to build is a little higher with materials and delays right now so double-check your budget from your contractor. I would hate to see you get to the end of a build and not have the finishing finances. 

I know for a construction loan you might need a contractor to sign off on the cost estimate for the build. Then the bank may loan you the construction loan. 

Send me a private Dm, my boss is a contractor in the area, we might be able to help.

One caveat I will say is that cost to build is a little higher with materials and delays right now so double-check your budget from your contractor. I would hate to see you get to the end of a build and not have the finishing finances. 

Hey Steven,

I do some construction work but personally have not dealt with many basements while we build in California. Just a couple of thoughts and questions though.

If the walls are concrete and crumbling, and they are exposed on the outside to dirt, then yes if there is crumbling in the wall, it's likely that water will find its way in. 

How is the ground outside? Is it sloping/grading towards the house? 

Are all four walls crumbling or just one wall specifically? I would check to see if there are bad gutter connections outside on that part of the house, and for sure check the slope. There might be some telling signs by doing a thorough look about the exterior of the property. 

Also, I would be a bit hesitant to buy a house with standing water in the basement. If you are really sold on the house though, then it's always fixable. Just depends on how much it costs to fix it. They might have to lift the whole house up and rebuild the foundation, or it might be a couple of repairs. It could go either way. 

Best of luck my friend!

Hey all,

I work with a General Contractor, we’ve knocked out some pretty big house remodels and have a good team of guys. I’ve got my boss (and very good friend) interested in purchasing a property in the area and flipping it for ourselves instead of working for other clients building their homes.  

The biggest challenge is entering in on the finances. California builds cost big money, and while we could do a hard money loan, I'm curious how you all might JV a deal and break down profit percentage wise…..

If we partnered with someone who put up the cash to buy the house, materials, and labor, and we put up the labor and helped move the project through in a timely fashion,


How would you break that payout later?

We have to pay labor costs to our guys and we'd need some costs covered for ourselves, ie… we couldn't work for free on the front end. However, once the house goes to market and is up for sale, what would be a fair percentage to break down for the person who puts up the money in a JV and for the builder who does the labor of the work?

Thanks for your input! 

Hey All,

Newer investor here. 

I’ve seen a couple of houses that are run down in my area. I think they’re great potential properties and I’d like to reach out to the homeowners. I have the addresses, what’s the best way to get accurate homeowner phone numbers? 

Thanks for you suggestions.



Best,

J

I'm curious about the high dessert myself. Are you guys ever worried about a complete loss of water to that area? Like is that ever feasible or possible or a potential problem? Or are we just assuming we will always have water in CA and it's not even a thought?

 I don't have the capitol to deploy a cash buy and fund the flip on a project here in SoCal. I'd be hesitant to jump straight into a hard money loan for that type of project. Although maybe that would help us get it done. 

I agree that wholesaling is not necessarily a top choice so much as a means to an end. But I see your point that it is a grind and it takes months to move something from start to finish and many hours to get a potential source. Thank you for pointing that out. 

@Paul Camuto

I don't feel confused. I have very clear goals of what I want to do. 

LA is a pricey market to jump in on and buy a house. The goal is to build up capital to be able to get in on one persoanlly. Working to get pre-approved and see what I can come to the table with and purchase.

Fix and Flip - I work directly every day with a GC and we are trying to build our business to expand beyond just fixing other peoples houses and instead flipping a house and going for a greater margin of profit for us. This would require either an SBA Loan or take on a Hard Money loan and get in and get out quickly. (Again though, LA market 499K Cash needed to get a discounted price on a house)

Wholesaling - I like the concept, I like talking to people and I like solving problems, and I like making a profit. I am a networker and I don't mind talking to people in situations where there is potential to help them out. If I can do this and make a profit that can go towards funding the other above mentioned goals, then I am interested in pursuing it. 

I don't see myself as being confused, I see that as having goals, and instead of exit strategies, these are entrance strategies. 

You are right that I could just buy a property and rent it, and I am working towards some version of a house hack, but mortgage rates just went up and houses in Hollywood are pricey. But it is a work in progress. 

Hello, My name is Jordan and I live and work in the Southern California area. 

A couple of areas I'd like to focus on would be 

Wholesaling,

Flipping,

Building.

I have some connections for investors and I build/remodel with a GC and he is keen on the idea of us taking on a flip or two for our next project. I would love to find some connections to help make that happen. And I would personally like to learn how to wholesale. I've listened to a ton of the podcasts, but still feel unsure of where to start when it comes to finding and making calls.