All Forum Posts by: Melvin J. Joseph

So I've been studying Real Estate Investing for about a year strong now and I've learned a lot. Currently, I'm spending the bulk of my time improving my financial picture. At this point, with no intentions to suffer from analysis paralysis, I'm wondering whats some things that I can do right now in that pregame phase. I'll never stop acquiring and furthering my knowledge of course, but right now I just really want to put in some sweat equity in the game because I'm bored of sitting around on my butt. Any suggestions?

@Matthew Lopez HA forum huh. Do tell me more.

Good day LA.

My name is Melvin, a start up investor from the South Florida area. I've moved out to California for family and I'm studying for my Real Estate license. While I'm happy to be here, naturally I don't know anyone in the industry. I was hoping to network with some local BiggerPocket members. Seasoned investors, as well as newbies like me, are welcomed. If you're friendly and hungry like myself, I'd love to partner on some projects or just hear any insight you'd care to offer. Feel free to post your thoughts.

@Eric Mayer lol don't worry. I've done the research, I have a plan B (more than one in fact). I was just looking for some extra ideas, but a buyer lined up is one of those ideas in the pipeline. I'm an ethical investor, so no need to worry about me "making investors look bad". Thanks for the insight though.

@Barry Pekin I wasn't actually looking for it. I was just in proximity of it and decided to take a closer look. If nothing more comes from it than the experience then that's find by me.

@Brian Pulaski I absolutely agree, I would never use a fake POF letter. I don't do business like that! Thanks for the insight though.

@Dennis M. This isn't Twitter "bro", don't come at me like that. I'm not an idiot. You may not have meant offense, but I perceived it otherwise. That being said, I've done the research and I've got an honest creative work around or two. I've got a partner analysing the deal to see if it wants to partner (which could have been a genuine suggestion to give). If the deal falls through I won't lose sleep over it, I wasn't looking for it. Besides I've already explained to the agent that I'm a new investor and she knows the money isn't coming from me because I've explained that to her. So I'm not standing at the register with an empty wallet.

So I have a deal on the table but the agent wants a POF letter from me to attach to the written offer. I've done some searching but I was wondering what advice the community might have on the best way to proceed with obtaining one.

@Mitch Messer it's ironic you should mention that. I was advised by an outside source that my offer should be more akin to 120 (so as to leave room for negotiations as well). Thoughts?

So I was doing some house hunting with a friend for some experience and came across a distressed property on market. Asking price is 175 with the comps in the area at around 215. I think it has mold, needs new carpet, some bathroom remodeling and some light kitchen work. I'm thinking about making an offer for 150 and wholesaling it to someone with the resources to make a profit. Any advice on the next step?