All Forum Posts by: Keonnee Linnell

Hey Everyone, obviously everyone has their own opinion of the Real estate market in its entirety but it seems like the Market is shifting more so in less desirable areas like Stockton, California. 

Any economic Pros out there can dive a little deeper on this subject so I am able to explain this better to my Clients?

Stockton, CA Average Home price Data From August-October 2021

Redfin

• August $422,750 
• September $421,250 
• October $403,000

Zillow

• August $421,000 
• September $429,000 
• October No info

Realtor

• August $425,500 
• September $420,000 
• October $400,000

Sources:

Redfin

Realtor

Zillow

@Ted Hendry

Being compassionate in of itself isn’t a weakness, however it can be considered naive in some instances. Being naive can lead to many business owner’s downfall, so how do you combat this?

Be courageous enough to trust your tenants to make the right decision, lay down the ground rules and implement them. Be wise enough to know that they will falter at times. Be compassionate enough to forgive them on late payments and other rules they may break. Be strong enough to take the necessary action when a tenant takes advantage of your kindness.

You got this.

Hey, don't worry about purchasing anything in the beginning.

A lot of people lose a lot of money in their first couple months wholesaling by buying this, that and the other thing to get leads. My recommendation is work for someone in your area that is doing the job you want to do and learn the game from them. You can go through the struggle of figuring out how this business works without the risk of wasting unnecessary time and money.

You may have to do a lot of grunt work, but you're laying down the foundation of a successful wholesaling business. At the same time you're working for (or with) someone else you need to be networking like a mofo.

Go to all your local meetups and connect with different investors/wholesalers to broaden your buyers list. In this business you get paid to problem solve, and the way you do that is by finding deals and connecting them to someone who could see the value.

Hope this helped.

I used to live in the Stonebridge Subdivision in Lathrop and I can say from 20 years of living there, there were only a handful of times where a crime was committed in our neighborhood. Is it a good area for a Fix and Flip investor? Good deals are few and far in between, but they are there. For example 15940 Warfield rd is a SFR in the older part of Lathrop and has turned out to be a very good flip for one of my investors. They purchased the property for $200k, put about $35k into the property, and will be selling potentially for $475k within the next couple weeks. Is it a good area for Buy and Hold? It is very hard to find decent deals with good enough cap rate in Lathrop unless it was a distressed property and added significant value to it. Run your numbers!

@Landon Bleau thank you so much! That helps me out a lot. I literally went out on my local forum and started reaching out to everyone on there thank you.

@Edgar Verdin hey 👋 I’m located in the Tracy/ Stockton area

@Stanley Parsley I thought redlining was a lending practice that discriminated against minority groups. I.e. You’re refusing (a loan or insurance) to someone because they live in an area deemed to be a poor financial risk. Or at least that’s what I was taught in my Real Estate courses.

@Adam Galindo so back in October of 2020 I started reaching out to different agents in my area to see if anyone wanted needed and assistant. Majority of them didn’t respond but the one guy who did actually mentored me for 2 months for free with the agreement that is would join his team. Long story short, he has medical issues and wasn’t able to “hold my hand” so to speak when I wanted to do deals. So I asked if he knew anyone who is a top-producer and is willing to take on new agents. He mentions one agent (the one that I’m with) and his team. The best advice I can give you is to know what you need when interviewing for someone to take you on. Make sure the culture is right for you, do you need someone to keep you accountable? How much drive do you have and does this person match that or pushes you to be better? What is the commission like? I interview 4 different brokers and teams before I settled, make sure you do the same.

@Adam Galindo I had a similar experience:

I was doordashing 40 hours a week making an average of $18-25 an hour before I started my career. As soon as I passed my license I joined a team that gives me warm buyer leads with great training and support. The team I joined does around $50 million worth of Real Estate production in a year. So I’m learning from one of the best in the area, which speeds up my learning curve. This first month has been spent just learning, going on ride alongs and checking up on deals, appointments, and showing homes. I have roughly $3k in savings that could help me out with bills, and if I wanted to I could always doordash if I need a bill paid.

@Kevin Taylor new real estate agent here, I currently work with investors in the Bay Area and Central Valley, CA and one thing I noticed is majority of them do not have a MS in Real Estate and if they do have a degree it’s not in real estate. Most actually transition out of their chosen career to venture into this industry. If you’re going to college for security, and to work for someone else, do it. You don’t need it to be successful.