All Forum Posts by: Mark Mynhier

"War zones", as they are commonly called, are still possible to work in. Take Compton, for example. It used to be untouched but now it is booming and a lot of money is being put into it. Willowbrook is bad, but what about the trends for crime? I haven't looked specifically at that, since I don't flip there, but if the crime is being abated and the rates are dropping it might be a diamond in the rough. Try and find school trends (greatschools.org) and crime trends (http://www.lapdonline.org/crime_mapping_and_compstat) to see which way it's going for each of the areas that may you may be interested in. School trends show community involvement and can be a selling point for some people.

Taylor,

I'm in the LA area as well. Some of the REIs are awesome and some are pure cra...ummm...garbage. Tomorrow night there is the Club in Action (go to Meetup.com and find the details) that is very good. You can send me a private e-mail and I'll let you know which ones to avoid (can't post that...it can lead to all sorts of problems), and point you in the right direction. I've been doing this for almost a year and I'm on my 6th flip. Not a lot, but not a novice, either.

Mark

Baile.Properties.LLC@gmail.com

Tamara,

If you are looking for more investors to work with, please drop me a line. I'm always looking for good (read that: flipper friendly) Agents to work with and do multiple deals with a year.

Mark

Baile.Properties.LLC@gmail.com

The project is since finished and I learned a lot from it. I'm glad that @Matt Vaughn , @Jaime Frausto and @Patrick T. responded, since it helped me gain more insight. I'm still a novice at this venture...I'm only on my 6th flip and have only been doing it for 10 months...so I'm trolling the forums and trying to learn more and more.

This is a great place for feedback and helping each other and I just wanted to say "Thanks"

I have a contract in place with performance penalties, including timeliness. I could exercise it, but since he is working on a home with profits over $250K I don't want the smaller venture to negatively impact the larger venture. I guess I could have better phrased the question...it is more of an issue of learning the best way to make him a team player and want to deliver in a timely fashion instead of forcing him to deliver in a timely fashion.

Question: How do you deal with a contractor who balks at doing repairs that an inspector says are "safety issues" and is weeks behind in the rehab? It would be real easy to be hard nosed, but he is also working on another project with a much higher profit margin. He is holding my permits (which buyers are asking for copies of), too. I'm trying to be diplomatic but at a point my patience runs out...right about when sells are threatened. I like the guy and I'm trying to work it out, but 6 weeks behind on a 4 week rehab is killing my profits.

I'm never working with the guy again, but the $2M property that he is currently working on makes me gun shy about pulling out the contract and going Mr. Lawyer on him.