All Forum Posts by: Marcello Di Gerlando

@Anson Young

Thanks to all the fine BP folks for yesterdays Denver meetup! Cheers hope to see everyone again.

@Jose Torres

Ok Mr Torres. I'm going to consider myself uniquely qualified to answer your concerns.

1) I am currently active duty military

2) I am an active in REI

3) Prior to being active duty I had a successful career in the 'rag' trade working for some of the best brands in the business ie Burberry and Bergdorf Goodman.

4) I was raised in my parents dress/suit factory

First, none of the deals in REI I have made required me to be in suit. Saying that however doesn't say I was dressed like a bum. My niche is buying SFH at the trustee auction. Clowns in suites at the auction never win bids - in fact they are generally spectators. It's usually the guys wearing work boots that win bids.

What's your niche?

If you plan on selling RE and being in front of potential clients then having a respectable suit is appropriate in my opinion. 

If you plan on soliciting lenders, being appropriately dressed is important. However, being over dressed in a 'gansta' suite may put you directly into the clown category.

What you are wearing is always important but it comes hand in hand with all the other elements of doing business. Do you have the knowledge base? the network? the resources? the drive and commitment? do you have integrity? are you personable and can you carry yourself professionally? etc etc etc. the suit takes a back seat when you start considering all the elements.

However, owning a couple of nice suits is important for any gentlemen regardless of their career choice. If you want to spend a thousand bucks on suit go ahead.  But spending that kind of money on some threads is generally left best to the pro who wears a suit everyday and has the dough to update and replace it as the seasons and trends change. It's not necessary.

I am going to share with you a great secret - there is a tailor in Las Vegas who has had an amazing career as a clothier for the rich and famous. He has decided that he wants to give back to his community and particularly veterans and soldiers. He will custom make you a suit, throw in a shirt and tie for $100..that's right one hundred dollars. I have seen his work and its incredible. here is the link http://cnotesuit.com/ cnotesuit.com.

He only make suits at this price for soldiers and vets. goodluck.

@Jeff Metzger

Welcome Jeff! I would love to get my hands on a piece of property in Breckenridge. I have several family's that want a joint equity vacation home in the hills. They are looking to me to find something at a discount. If you want to connect PM me.

What you suggest is not entirely uncommon. Here in Colorado Springs, once in a while, a property with significant equity will be in pre-foreclosure. investors and agents will have access to this information and send notices trying to entice the owner to sell. However, homeowners can have serious emotional attachment to their homes and any number of personal issues that cloud rational thought. On many occasions I have seen homes go to auction and sell for more than is owed to the lender. In this case, liens are satisfied in order and the remainder goes to the homeowner.

 "retail value is probably about 2x to 3x what is owed"

wow! that is significant. I would be absolutely sure the loan being foreclosed is the first. Often this kind of spread is indicative of a junior lien.

I've tried a couple of times to approach owners in pre-foreclosure - without success - I'm always nervous someone is going to pull a pistol on me. 

My strategy would be to clear the owners debt and offer them some incentive cash for keys and a rapid, clean exit of the property.

good luck.

I'm in!

Happy to meet other BP'ers in the Springs. I have never been to any REI groups, eager to see how they could work for me. Saying that, I hope I can offer what I can to others in the group. Personally, having a brew over good conversation always works for me. So I propose anywhere that sells booze and is not to loud. I'm flexible except Tuesday evenings.

Wow. What a great variety of design ideas, BP needs a design-off. Would love to see all your before and after pics.

I think many of us have a lot of the same challenges when it comes to reworking some of yesteryears aesthetic misfortunes.

I am really hesitant to paint over the wood work in fear that it will look cheap and nasty. However, I will probably use one of the 4 step cabinet refinishing products (not sure what they are called)

@Carrie Giordano - the dark wood shelfs and white combo might be nice I'm going to research some pics , sounds intriguing

@Bill S. Slate over the fireplace would be very nice could be pricey. I really like it though.

@Bill Gulley - keeping the beams!

@Colleen F.. - beadborad behind the shelves would really bring them up to date

@George P.. I like the idea of painting the brick - if I don’t like it I can always tile over it.

@Bill Hinshaw I like all your suggestions - getting rid of most of the brick will probably make me mental though.

@Dan Mackin

I like the idea of the gray paneling . But how would you do it? are you suggesting that I use paint?

This is a 1970's traditional home, in one of the nicest areas of Colorado Springs 3900 sq. ft. I have been interested in updating and flipping one of these larger properties.

I've looked at a few like this and I get stumped on how to cosmetically update built-in wood cabinets and wood veneer paneling.  These brick fireplaces always leave me scratching my head too.

I am looking for cost effective design ideas to modernize these dated looks.

@J Scott

Wow. I have read through every page of your books at least a dozen times. Each time I absorb a little more. I had been sitting on REI sidelines for several years until I found Bigger Pockets and then your books. After reading your books I was able to flip two houses in my first year. The best thing is the knowledge I gained gave me a road map that made each step of the process very predictable – hence, not stressful! In fact the whole process has been tremendously exciting, great fun and profitable. Not only have I been able to generate great returns I have also been able to secure almost $1M in additional financing. I am currently working on three new projects two of them are JV projects with other investors in Colorado and California. To be clear, this is a hobby for me. My next hobby will be developing from the ground up. When is BP putting out a road map for developing SFHs?

I have an opportunity to work with some folks in Walnut Creek CA, that's in Contra Costa County about 15 miles east of Oakland.

I want to able to do title searches from Colorado. What are auction investors in CA using to see the status of title? I dont want to break the bank by using an attorney to do the leg work. Obviousley I can't run down to the local Contra Costa records clerk either.

This group is eager to JV with me here in Colorado on the condition we can transfer what we are doing here to Walnut Creek CA.

I'm a cash buyer fix flip and hold SFH and typically pick up properties at auction. I am under no illusion that the auction process in CA is the same as CO; so I have plenty of home work to do.

I don't have any experiencing operating outside of CO and I would appreciate any insight in to CA auction process. step by step/ how too etc. Thanks.