All Forum Posts by: Leland French

Thanks for the feedback. You Texans continue to be positive and I like that! CA often leads the way in RE trends in the country and it has softened considerably here. But many states will continue to benefit from both the exodus from blue states (especially CA) and also the influx of illegal immigrants who have to end up somewhere. So these things will prop up the market temporarily. The midterms should have everyone interested because we are looking at a huge shift in this country from left to right in congress and possibly in the White House sooner than one would expect. I'm predicting things we have never seen before that will cause many to hold still to see how it all plays out. This uncertainty will play well for those who are positioned to purchase and risk in uncertainty. It won't be business as usual but it will be business like never before and it will be epic! So glad to be on this journey with Y'all. Did I say that right in Texan?

@Chris Webb , Nothing scientific about determining inflated RE values here in CA. I've lived here all my life and I can just feel it! We thought we saw it all in high prices before the 2008 downturn but this last year saw prices higher than ever for even the most basic SFR. Unbelievable because even with all the safeguards in lending practices after the last crash I'm quite sure many are going to end up upside down when the market dips and foreclosures will be high again. Good luck with your project out there in Virginia!

Well thanks for all the replies from the great state of Texas! As a conservative there is a lot to like about your state and good to hear they are friendly to landlords out there. I have poked around there a bit as my wife and I took a road trip from CA all the way to Tampa. Our goal was to look closely at the Gulf Coast which we did from South Padre Island all the way to Tampa hugging the coast In mid January. WE were hoping for milder weather than we got and it didn't warm up until Tampa where we laid on the beach for three days in 75 degree weather! Got to love Florida in the winter! We did see some good investment opportunities all along the way especially in the Corpus Christi area (we were focusing on RV parks and motels). We also got a crash course in hurricanes and realized this is a major consideration if you are looking close to the coast. Most people talk about how they did or didn't survive Harvey! While cost of living including fuel prices were low, and housing was affordable, it seems Texas compensates itself with higher property taxes was a complaint we heard and apparently they assess on current market value yearly. Shout out to @Steven Wilson in Ohio. I have an associate who does wholesaling in Cincinnati and does quite well. Thanks for your encouragement to check out the great state of Ohio! The Lord has a plan and I'm excited to see what doors He opens up. Bless you all with great deals! BTW I'm a world traveler and am interested in foreign investments. Could be a good way to hedge against all the uncertainty in the US right now.

Well It's happening. What most of us have been anticipating for at least two years. The RE market has softened with the rise in interest rates and the coming midterms. "What's going to happen"? is what most people are thinking and so they are sitting tight. I just finished divesting in CA RE in February. It was a good time to get out! Prices were inflated and being a landlord here is scary anymore. So I'm looking for a new place to invest in a combination of RE and business and I believe God will lead me to the right opportunities. That's part of the blessing of honoring Him with a large slice of what my company makes. He leads me to great opportunities! I'm open to suggestions of where those tax and business friendly opportunities might be. Please share your success stories of investing in other states and also warnings of some of the horrors of other places like the direction CA and other states are headed in!

How about this? Sell now high (and quickly as the market has begun to soften). Hesitate for a moment and sit on the capital as the market turns to a buyers market in the next 6-12 months (you could earn 25-100K+ in purchasing power of your money depending on the market you are in). If the rates are still high then pay cash for as much rental return as you can find. At the very least you will have increased your net worth significantly and increased your monthly cash flow 4 times or more. I recently divested my rentals in CA and am waiting for the turn in the market which has begun as you know.

Hello! Just getting started in wholesaling in California and trying to locate a simple, all cash purchase agreement and assignment contract. Any ideas? Also interested in locating an investor friendly title company in Kern County.

Hi Sanjeev, 

Thanks for your reply! Can you direct me in my above request for serviceable all cash purchase agreement form and assignment contract for California? Want it to be simple and legal for our state.

Thanks

Wes

Thanks Mark! i will check out these resources. Appreciate your input:)

Hey Robby, Just signed up on BP today and saw your post. I'm doing the same in Kern county and would love to chat about how this all works. Looking for the right Purchase Agreement to use as well as an assignment contract. They say don't try to have all your ducks in a row before you start out but at least a few ducks would be nice. Looking forward to hearing from you.

hi Amy, Thanks for your reply! Yes I would be interested in that. How can that happen without sharing my contact info as its against the post rules:) ?