All Forum Posts by: Jorge Retes

@Michelle Crochet

oh I see, thank you. Market conditions?! I have never heard of that one before. this gives me an idea though. I'll be talking to an attorney and hopefully getting a contract I can use without any worry. thank you! 

hey guys I am starting out and I have a few questions regarding contracts. if I wanted to make a contract with the idea of fix and flip when buying a residential home, what contingencies should I have in place and how many should I have? anyone know of a good template for such a contract? or if you recommend, who can I talk to that help me make a contract and what things should I ask for when making it? honestly I have very little knowledge when it comes to contracts, so any other tips or warnings would be appreciated. 

@Brayden Hrycko 

yeah, I am taking it one step at a time and learn what I can. really 100%? I dint know, I'll talk to different banks and see their rates. also, I wasn't aware brokers helped with finding a HELOC. I haven't spoken to them yet, I am trying to get things pieced together before I do. there's so much I don't know, and even more stuff that "I don't know that I don't know" if that makes sense. but I wont figure it out unless I start doing it, even if I do it wrong. thank you for let me know

@Michael J. oh I am fully aware that this would be a risk for them, I am not taking this lightly. I plan on being transparent with them and leave it to their discretion. well thank you for replying, got some things to think about too. 

For anyone that has experience using HELOCs I want to know what is possible and what am I overlooking (I am New to all this). So my parents have a house with almost 180k of Equity in it right now. I had an idea of having a conversation with them to see if they would be willing to open a HELOC and use that to help bridge finance a portion of a Fix and flip investment with a typical hard money loan for the rest. so here are my questions. Is that possible? could they even invest in my projects? could they invest if the investment property is under an LLC for a fix and flip?

I want to understand the limitations of a HELOC when it comes from a private investor point of view, considering it would not be my personal credit line but theirs. I do intend to ask my local banks Aswell, but I want to hear from the investors here too.

hello, I am a starting investor trying to get my first deal. I am looking for a General Contractor who is comfortable with full rehabs or cosmetic fixes in the riverside or Temecula area. If anyone can refer me to one, I would appreciate it. If you are a GC yourself, feel free to send me a message with your name, email or phone number and ill contact you as soon as I am able too. 

Quote from @Bob Stevens:

Quote from @Jorge Retes:

Hey guys! my name is Jorge and I want to start a business involving RE. I tried looking around the forums to see if there was online group meet ups with people starting out to learn and grow together but I couldn't find any. thought I would make one myself instead. I want to find people who are starting out and are really motivated to venture into the real estate world. you don't need RE experience or anything. The group I want to make is to meet up online using zoom or other methods and spend time growing together and motivating each other. I figured having a group of people that can learn from each other mistakes and successes can really help everyone involved.  

I am new to all this myself, so let's learn together. 

I'll leave this post for a few days if you are interested just let me know by leaving a reply or a personal message that you are interested. and I'll send everyone a message regarding more details in a few days. 

 There 100s of those groups and conversations here and many other social media sites. As I have posted many times, " What value are you bringing to the table " Everyone says, " I want to get in the game " Ok, how,? What do you have to offer others? Do you have cash, ( at least 50k) do you have deals? Do you have buyers looking for properties, I hope you get my point. Why should I or others who have a lot of experience, work with you ?  This is not an attack its a learning question 

All the best 

yeah! I completely get what you are saying. and no worries I am not taking that as an attack at all, I support it. I'll be going to different RE meetups around my area multiple times and try to make those connection. I want to learn how to talk and negotiate so I will be putting myself in the fire with homeowners, even if I look dumb at first. it's the best way to learn in my opinion. I have saved up over 60k to at least have something to leverage, since I know very little as of right now. I am not really looking for someone to hold my hand and take me step by step, and I don't expect it either. but even if I somehow negotiate and incredible deal and get it under contract, I don't have the resources/connections yet to take advantage of it. I guess what I am saying is I plan on working myself up as much as I can. 

Quote from @Nathan Gesner:

Quote from @Jorge Retes:

Good on you for taking charge. I started a local group and built it into a facebook group. Totall fell apart because I couldn't get consistent participation (even with free food!) but I'm in a really small town.

Go to BUILD YOUR TEAM at the top of your screen and you can search for other MEMBERS or LOCAL MEETUPS. You can also check meetup.com or search facebook for real estate investment groups, clubs, or meetings in your area.

yeah, I started seeing meetups around my area. I was always planning on going to those and making connections that way. yeah, I expected things to not go so easy and most people would probably not want too. thought I try though. I will be taking advantage of the resources this website gives me for sure. 

Quote from @Cal P.:

Quote from @Jorge Retes:

Hey guys! my name is Jorge and I want to start a business involving RE. I tried looking around the forums to see if there was online group meet ups with people starting out to learn and grow together but I couldn't find any. thought I would make one myself instead. I want to find people who are starting out and are really motivated to venture into the real estate world. you don't need RE experience or anything. The group I want to make is to meet up online using zoom or other methods and spend time growing together and motivating each other. I figured having a group of people that can learn from each other mistakes and successes can really help everyone involved.  

I am new to all this myself, so let's learn together. 

I'll leave this post for a few days if you are interested just let me know by leaving a reply or a personal message that you are interested. and I'll send everyone a message regarding more details in a few days. 

Hey Jorge. A Zoom meeting is a good idea. I also tried to start a RE investing group years ago but I wasn't able to gain much interest. But I was on an island with less than 40k people, I didn't work long on building the group. I have noticed that I haven't had the best results with dragging the non-real estate investors into our investment world. And just because I love real estate, it doesn't mean other people love real estate. I am in Florida now so I plan to find a few like minded people.

 I see, I wasn't planning on doing anything really professional or even meet up in person. I wanted to get just a small group of people maybe even just 2-3 people if that's all there was. and meet up through a zoom call and bounce off each other. keep each other in check and motivated and at the same time learn from each other's journey. the whole 2 heads are better than one kind of idea, where everyone involved could benefit from. There is a lot I have to learn and experience; I am completely new to this world. 

I actually dint know about meetup till today and have been looking into it. I did mention zoom and was thinking on seeing if there was any interest in this sort of thing before I got a zoom link and only after was I planning on setting it up completely and sending the details.