All Forum Posts by: James M.

Thanks, Ron! I’m supposed to be working on the 21st, but let me see what I can do to get that day covered! Thanks!

Hello All! 

I searched through the forums and i'm having trouble finding any current meet-ups in the Orange County area. I was wondering if any of you guys know of any or are hosting any? 

Thanks!

There are many different ways to get money out of your house, a HELOC being one of them. Using a HELOC to invest is risky if you don’t understand what you are getting into and don’t understand the numbers, but if you have a good grasp on the market, the upside, etc etc, and you have some sort of exit strategy as to how you will stay afloat if things don’t go as planned, then you are minimizing risk and it can be a great way to acquire property.

Aariff, I spent a great deal of time building extensive spread sheets to clear my head as to what option was the best for myself in the California vs oos argument. It really comes down to the person because the answer is not the same for everyone. If you have time on your side and don’t necessarily need cash flow now, your money in California will far out our perform what it can do oos. For me the fact that I can buy a multi family on an fha loan with low money down, force the value, refi out of the fha to get rid of pmi all while keeping my low interest rate, and being able to have huge tax right offs against my rather high income, is a far better option for me. In California you must buy smart and be sure of your entrance and exit strategies, but if done correctly, California real estate will make you very wealthy.

@bradpenley, what about doing a refi to tap into that cash and leverage it to Buy cash flowing properties, while keeping your duplex which will create a huge amount of equity over time? I’m Not sure what kind of play you are looking at but that duplex will bring a huge return over time compared to what a cash flowing asset will bring back east.

@Zach Hoereth I am in the Orange County area, and definitely have been exploring the Indy area. Would love to link up.

Jason Carter amen to education!

Jack Edward Johnson it depends on your market. Here in Southern California the area I try to buy, the average grm is about 15.5-16, but we will see properties sell at 16-20 even 22. You really need to analyze many properties in your area to know what the fair grm is. Once you do, it becomes much easier to spot a potential deal.

Congrats, but quite honestly the rehab part is really tough to estimate until you’ve actually done it. Give the estimation a shot, always budget on the high side, and add 33% minimum for time and money for what you didn’t expect. All I can say is they whatever you think it will cost, it will probably be 33% -50% more. That’s just the way it works out

YouTube and google. I am 100% self taught through research, YouTube, google, and reading.