All Forum Posts by: Ken T.

i am a new investor and have been doing insurance for 11 years. I always recommend replacement cost 

Hello! 

3 months ago I was taught by a guru how "easy" it is to be a real estate investor. Today I just learned that in CA you are required to include a 5 day rescission period on your preforeclosure purchase contracts or you could be jailed for fraud/misrepresentation/other reasons. Now I'm really taken back and even more anxious of moving forward in this industry.

Are there any resources out there that I should seek before continuing blindly into REI? How can I learn all the legal details in CA? Can I put all my trust into a RE attorney? Is an LLC actually going to protect me in case of such an offense (I do not intend on performing illegal acts at all)?

Learning from your mistakes is important, but preventing them is more important!

My opinion is to evict her, you will be doing this dance again in the future. In CA it is extremely difficult to ever get a sheriff out, I'm not sure about your state but I wouldn't be able to do that multiple times.

I have entertained doing wholesaling, but I understand that it's very challenging especially for newbie investors. I am most interested in diving into the deep-end and rehabing and flipping as much as I can and wholesaling the properties that I cannot afford/handle.

So I'm guessing if I do engage in wholesaling, I should not put that I sell houses unless I have a BRE? Thanks Kyle!

Hello! I have noob question that I cannot easily find the answer to. I showed some of my licensed real estate friends my business card draft and they told me I am not allowed to state "We buy and sell houses" on my business card because I'm not actually licensed, nor will I be putting a BRE number.

I just wanted to confirm what type of wording I am allowed to use in my business cards in California. Any input would be appreciated!

hay guise... I came in here in hopes of getting better insight on the topic but cannot narrow down what can be considered fact. I am a noob, no transactions, just here trying to get into RE investing. I would truly like to know if wholesaling is illegal or not in CA. Can someone sum up this thread or at least present the arguments for both sides?

Wonderful! Thanks for the advice. I was under the impression that the insurance companies would force them to rebuild the house. I went ahead and sent them some flyers and put a bandit sign in front of their house. Hopefully they bite!

Hello! Unfortunately there have been two large fires in my area. Although I feel bad for even seeing this as a business opportunity I would like to get some insight on whether or not I should pursue these "leads".

I am a new investor with no transactions yet. What could I expect from pursuing a fire damaged property? Particularly how will this play out if the homeowner does have insurance? If they have insurance, will an investor still be able to turn this into a deal? Should I start marketing towards them, even though this is probably the last thing they want to see? Thank you in advance!

Thank you for your response John! I truly felt like it was some snake-oil pitch. Would you happen to have any type of suggestion / reading to educate myself?

I do have my own insurance business that is currently an S corp. So the education I need will not be solely for use of real estate. Thanks!

Hello all! Noob here, this is my first discussion. Briefly about myself; I have not done any deals yet, I started this venture through a guru class (I was brought in as a guest paid by my friend).

I am at a convention right now where there are many vendors selling many products and services ranging form turnkey properties, precious metals, funding and tax services. One presentation that they are presenting the entire day is about liability and asset protection. The speaker presented a very compelling issue and solution to asset and liability protection.

This company offers a "bulletproof" liability / asset protection package that consists of a web of Family Liability Protection, Corp, Family Trust, and many sub LLCs. Of course they charge a premium for this package.

I tried to do a search on BP but could not find something that addresses this topic. Anyone have any insight? Are there other resources I should be considering before flocking to this company with my credit card? Thanks in advance!