All Forum Posts by: Jacqueline Walker

what did you do about that commercial property?

fizzlemahoe....you need to make sure the market values you are getting are accurate....you say "He said the estimated value is $700k"...are you referring to the seller? If so, that's not a reliable resource.

What govenment website are you using to value a property? There are no websites out there that I know of that can give you a reliable value.

You need to know what the last comp sold for and when. You need to know what current comparable homes are listed for and how long they have been on the market. The key to pricing a successful flip is knowing what your competition is listed at and pricing slightly below.

The other big question is condition of the property....does it need work? How much? How does that compare to others on the market?

Good luck!

Huntman...love your posts...keep them coming. It's great to see how an experienced investor can balance the goal of making money with integrity and honesty.

I see so many investors who try to lie and cheat their way through a transaction, often times spinning it one way at the beginning of the deal and then changing the game towards the end when the homeowner in distress has no options left.

I applaude your upfront approach!

r2d246....where are you finding multi-units that generate that type of cash flow?

Welcome Lori...I am located in SoCal, but I have an investor client who lives in NoCal and invests in property all over CA. Do you bill upfront or through escrow at close?

So many things to consider:

- Can you get out of the other deal without penalty?
- Which is the better deal?
- Can you get financing for two deals?
- Should you get into two deals this early in the game?
- Would the landlord consider a lease with option to purchase? If so, maybe you could find a tenant while you rehab the other property if you don't want to carry two at the same time.

Good luck :wink:

Welcome Kenneth! I am a Real Estate Consultant in Southern California....this site has been a great resource for me. Read and learn :wink:

The most important thing is to enjoy the journey...what's the point of attaining wealth if you did not take pleasure from each experience! I know a lot of very miserable, rich people :wink:

As someone who grew up with a National Health Care system, take it from someone who knows......it is not the way to go! It's like going to an emergency room....long wait time and no-one gives a damn.

With a can-do attitute like yours, I have no doubt you will be successful! This will definitely be a valuable learning experience for you.

Here's a couple of thoughts.....

- Did you use a licensed inspector? Does s/he have insurance that you can claim against?
- Did you purchase a home warranty plan?
- Did the Seller disclose these problems?

There may be avenues that you can explore to get some of the other parties that have been involved to help you overcome your challenges.....a 1 hr consultation with a good attorney may be the way to go!

Good Luck :wink: