All Forum Posts by: James Peterson

Anyone know of a pool repair company that will inspect a pool in the Sacramento area?

Thanks!

-James

@Account Closed said.

Double dip appreciation - Rent appreciates as well as home values.  

Also, you can buy RE at a discount and improve the value of RE... can't do that with general stock.

Hey @Charles Ho welcome to BP, we're neighbors! I live in EDH.  

I think @Eric Z. hit the nail on the head.  Leverage is the key to winning in Real Estate.

If your goal is really financial independence, what does that mean to you?

Diversification in the stock market is not a road map to financial independence.  It's good if you want to stay passive and let other people help you double your money every 7-10 years.

Ask yourself the questions, can we be financially independent if we double our stock over the next 7 years?  For some maybe... 'But it will be a safe way to keep money' (says the wife).

Why does it need to be immediately liquid? Real estate is liquid, you can always sell.

I also don't think you'll become financially independent in 7 years buying single family rentals. There needs to be a massive action plan!

You can take a more passive approach to REI and it could take 10-20 years to build a great real estate portfolio to retire on.

Read: The Millionaire Real Estate Investor - and make your wife read it too!

Or become aggressive, build a Real Estate Business that produces massive income and runs on it's own.  <- My plan, but far from it :(

@John G. Thanks for your input John.  I watched the 9'er stadium go up and it was pretty amazing to watch the speed of such a massive project.  

I agree that big projects = big time contractors that have accounts and major discounts with the building supply companies directly.  For the small 'non' GC contractors working on small remodels Home Depot and Lowes might be the best bet for some materials, not others. 

For example: Lumber at most Home Depot's is crap, terrible selection for redwood and pricing not so great. 

However, for a convenience factor, Home Depot's and Lowes are everywhere, lumberyards, etc. not so much.  Plus, small jobs that require many different specialty items make them more attractive for extra stuff needed THAT DAY.

I have friends that work for MAJOR commercial contractors that run to Home Depot for 'little stuff' all the time.  

The best idea you mentioned:  Go to the trade stores and find out who they recommend.  Tile Shops, Carpet, Hardwood, Paint, HVAC supply, Plumbing, etc etc.

Thanks John! 

@Tanisha Bowden Welcome, you definitely found a great resource here.  Get active, and get involved with your local markets.  It's easy to get pumped up with the stories you hear about making a ton of money.  Give yourself some goals and write up a plan on how your going to achieve it.  Ask lots of questions on the forums, investors are happy to help!

I agree with @James Wise, getting your real estate license is a great way to learn the business from the inside out.  But true success will come from your ability to be active, talking to other investors, looking at properties, and seeking a mentor to help guide you through your first few deals.  If you decide to wholesale, co-wholesale with the top local wholesalers so you know how to capture deals and learn the lingo!

Good luck!

I have a 6 bedroom house that I want to prepare for corporate housing, or short term housing as I believe that will create the highest short term return.  A little about the house:

It is walking distance to the Apple Campus west of De Anza Blvd.  The house is 6 bedrooms, 3 bathrooms, .25 acre lot with parking on the side and on the street.  I know it will need to be furnished and modified to optimize the rental potential for corporate housing.

Questions:
1. What should be done to the house to prepare for corporate housing. (furnishing, locks, permitting, rules etc)?

2. What are the best ways to find short term/ corporate tenants in the San Francisco Bay Area?  Who would I contact at Apple to offer this as corporate housing?

3. Any other advise or pitfalls that we should be aware of??

Thanks a million!!!

@Account Closed

You bring up an interesting point, try to take care of the trust deeds with out going through with QTA... but in light of the circumstances, how would you find out who own's the notes?

@Jynell Berkshire

Thanks for your input! This confused me thought...

"With a quiet title judgment order, any and all liability from prior owners carry forward to you, and of course, the title company who may be insuring the closing."

Did you mean 'Without a quiet title judgement order' ?

Thanks

@Wayne Brooks @Pat McGrath

 My brain was somewhere else when I said 'reconciled' I meant to type 'reconveyed' :)

As it stands, the property just sits there collecting property tax liens etc.  The 1st and 2nd trust deed holders are the same entity and no longer exist, according to @Account Closed and to make the title clean and salable it could be a long and bumpy road... but is it worth it??