All Forum Posts by: J. Martin

Welcome to the Bay @Mohammad Foro , unfortunately I can't recommend a good aggressive tax acct here.. but @Greg Meech is basically on the money. In CA, you slap lawsuits on any entity you can, and see what sticks.. but the more barriers you create the better.

I am not a lawyer and cannot offer any professional advice. However, many people get loans in their own name. Later, when their circumstances change or otherwise, they "quit claim" or transfer the deed (ownership) to an LLC, so they no longer own it in their personal name. Just the loan is to their personal name. So the natural person (you) no longer owns the asset. Technically, not notifying/seeking approval of change in ownership makes the loan in technical default if they checked, but I haven't heard of people coming to a problem with this, because it seems like most banks don't want to rock the boat as long as you are making your payments.. Just what some people do..

@Kyle Zaylor , I met up with @Adam Hofmann personally too because he was the first one I met on BP who was ready to not just talk.. but start meeting up, executing on goals, get things shaking..

I can see already by your post on your progress Adam that you don't f*ck around! Glad to see it! And motivating me to step up the number of offers I send in on my buy and hold deals.. I haven't been as diligent as I should..

Would also like to talk to you Adam about partnering up to target some deals on my area, especially since you seem to have the resources on some IT/info/marketing aspects that I do not have in place for myself (and don't plan on anytime soon I don't think..)

Great to set the goal. Tag me or PM when you figure out the date!

No problem. Good luck Philip, and be sure to use those forums!

One more tip..

Buying FHA your first deal is a great way to leverage your capital, especially if you're flexible enough to buy a 4plex and live in one unit. They use most of the other unit income to qualify you..

Welcome again, and good luck!

@Jay Willems , since everyone is mentioning buying a duplex to live in one side, I will say my first deal was an FHA 4plex living in one unit, and couldn't have been happier with the results, although you have to be willing to make some sacrifices relative to living in your ideal situation you would have picked, all investment considerations aside.

All said and done, well worth it..

Welcome to BP (and the US) @Florence Oxenham ! (and thanks for the shoutout @Denise Madrid ; sorry you can't make it this time :(

It looks like you're jumping all the way in Florence, which is the way I like to do things.. There are so many options on where/how to invest, it can make your head spin.. I'm similar to your investment philosophy I think, in that I invest in lower-risk "fix and hold" properties for longer-term cash flow - rather than investing in higher risk (and higher potential return) flips. All my properties are in the East Bay now, in Richmond. But I'll probably eventually branch out further east until eventually looking in other state.. You'll find something in every range on this site. You can check out my profile and website for some of the deals I've purchased, rehabbed, leased up, and manage.

If you can make it this last-minute, we'll be having a meetup in Oakland on Thursday evening (details below). If not, I'll see you here on the forums, and send me a PM or tag me if you have any questions about real estate in the Bay, or have some questions... Good luck in your investments Florence! And welcome to BP and the US!

http://www.biggerpockets.com/forums/521/topics/109953-east-bay-meetup---thurs-jan-16-2014-in-oakland

What: East Bay BP Meetup - 2014!

When: Thursday, January 16th, 2014 - 6:30PM to 9ish+

Where: Rosamunde Sausage Grill (& Bar)
Swans Market Place, 911 Washington St, Oakland, CA 94607

Get There: Take BART to 12th St/Civic Center Oakland Station& walk down Broadway to decreasing-numbered streets. Make a right on 9th St and walk to the first corner, at 911 Washington St. It is about a 5min walk, a block from the last EB meetup.

Parking at 459 8th St, or other garages nearby at the link below. Address above.

@Michaela G. , if you're feeling the vibe, there are quite a few people interested in your out-of-state knowledge..!

I understand either way, especially with your mind on a new venture, and not as actively involved in RE.. Still curious what the project is.. besides maybe taking bitcoin! lol

Offer is still on the table to send you some free BitCoin if you sign up for a wallet to send to.. Blockchain.info doesn't require any personal info like Coinbase.com - just an email address..

@Eric Mun , happy to organize it, and nice to see a new member jump into the fray.. I noticed you mentioned specializing in fire loss, among other things. Not sure if you look at stuff already on the MLS, but I saw this burned-up property the other day in an area I have my eye on. The street/neighborhood is sketchy, but improving and rents going up (@Jessica Yau has a property in the general area).

Close to uptown oakland, which is blowing up. And close to Emeryville, the beautiful younger sister to West Oakland's red-headed step-child status (no offense to red-heads!) Lots of shopping and all the box stores. Close to Macarthur BART (<15min to SF). Just throwing it out there! (No referral fee needed on this one - but not against back-scratching if you end up pursuing it and close!

3277 Martin Luther King Jr Way

http://www.redfin.com/CA/Oakland/3277-Martin-Luther-King-Jr-Way-94609/home/52206596

Btw, had my eye on PE & Hedge fund jobs when graduating w/ econ & finance, Level I CFA passed, trading myself etc.. but then 2007/8 happened! Wowww. Skip a few stories.. ended up in bank regulation, investing in RE, working ~35hrs/wk instead of 80/wk, and happy :) Interested to hear about some of your experiences there..

See you soon!

@Pete Tam , I can share my knowledge about areas in the Bay where you can get some cash flow off the peninsula, some more detailed knowledge about specific areas of the East Bay from Oakland to Richmond, and some general RE knowledge I've picked up over the last 5 years..

It sounds like our investment goals/targets are similar, although I'm still a bit gun-shy about investing out of state.. I might eventually put some of my portfolio out there though..

@Ken Lau , interesting job!

I work for the State of CA myself.. hopefully the govt life isn't too hard on you! There's still some cash flow (CF) left in the Bay Area too, although for sure less than there was.. I'm probably the opposite as you.. Invested solely here in the Bay, but would consider out of state investments.. especially when the CF dries up here.

I'm interested in talking to you about both, and have plent of lessons/landlord experiences, and general purchase/rehab/leasing experience to share..