All Forum Posts by: Lucas Fridriksson

If you are going through a broker this is typical. If you are going through a direct lender this is not typical, unless they are trying to show funds to close. If you have further questions based on that, please let me know.

Hey everyone, I passed my mortgage licensing exam earlier this week. I am working with a top lending company in Santa Rosa, CA. If anyone may have any questions or need anything please feel free to message me. I am certainly new to the industry and don't know it all, however, I work daily with one of the top mortgage professionals in the area. If for some reason I am unable to answer your questions, I am sitting 15 feet away from someone who can, and I love bombarding him with new questions.

Looking forward to speaking to anyone in the BP community that I may be able to help, as this forum and the BP podcast is what convinced me that the real estate industry can make for a great career for many people in many different facets of specialization.

Hope to hear from you,

Lucas Fridriksson

@Chris Lynch Can you provide an update on what path you chose to take and how you've enjoyed it/prospered since posting this 3 years ago? Very interested considering I am on the same path as you were at that time.

Highly unlikely you will be able to evict based on the fact that you saw them with a small (for CA) amount of marijuana. If they have a doctors recommendation it's legal, if they don't it is still illegal for now. But either way any type of enforcement will not care about what you saw. Likelihood a judgment will side with the landlord on these grounds in this state is very low. Your best best is that if there's a specific no smoking policy on the lease and they're constantly smoking in there you have a chance. You just need to figure out how to prove it without being too obtrusive.

@Sekelle O. Yeah, I dont think I articulated my conflict of whether to start without a major marketing campaign well enough in original post. I was thinking that it would be possible to find a place without a serious marketing campaign, but in retrospect that was naive. I agree with you, jumping in with both feet is certainly optimal considering my market and that I want this to grow and succeed long term.

@Justin Silverio That sums it up. Thank you!

Without marketing: RE agent, wholesaler, check listings and call directly. I'm asking to gauge the value of forming a marketing campaign vs. just networking with professionals, and looking online/driving neighborhoods and making offers until I find something.

Cool, wishing you the best of luck too.

http://www.123flip.com/my-re-business-plans/

Just in case you havent seen it, J Scott's business plan above is by far the best resource I found in regards to writing a solid plan.

Hey everybody,

I am in works to jump into my first flip. My goal is to flip one property, sell it and then seek a new project. I am hoping to complete three flips before May 2018. I am somewhat near San Francisco where property values are pretty high and everything is selling for above asking price. Inventory is low, homes are selling fast when listed and getting a deal below market seems very difficult. Does anyone know if utilizing a marketing campaign (direct mail, door knocking, etc) will be beneficial enough to implement considering I only need one house for the next few months? My theory was that a marketing campaign wouldnt be necessary until I have the business running like a machine with higher volume.

Please let me know what you guys think!

Fortunately I grew up here and I have an expansive network covering every pro I will need help from except a CPA, which shouldnt be too hard to find. I am completing my business plan (which I'm finding to be more difficult than I thought even though I wrote a few in college) before I contact the few connections I have who I am considering asking for financing. I was thinking that I would be able to find my first property without any kind of marketing campaign, and could do without marketing until I needed higher volume in a couple years, but I also think you might be right that I will likely find a much better deal by being aggressive. I'm starting a new post in regards to that specifically. Thanks for the feedback @Gallagher Wilson!!!