All Forum Posts by: Mercedes Cantero

hello @Pavel Chernyy and welcome to BP. 

Hello @Robert Ryness, welcome to BP! I would say you are in the right place to learn the principles of RE investment. I love to travel too and while you get your education in RE, you will be ready to invest in other countries.  

Hi Patrick and welcome to BP. I haven't heard about the website you mention but I am interested in visiting it now. I suggest you to read New Guide of RE Investments from BP. A seasoned investor told me about this book. You can download it. 

Good luck!

Hi @Neil G., 

Also I would consider to ask for the last two years of profit and loss statements of the property if it has been rented before. Once I know the net income of the properties, I should have an idea of the work made as well. But as you say you are going to make repairs this data is not so important here, it might be useful for rentals "ready to go".

Welcome to BP @Michael J Flores! I started in RE Investing in February this year. It is an exciting world! .You are right, we need to adapt fast and learn every day. It is a good challenge. Best of the luck!

Hi Levi!

I am a new investor in San Diego as well. Welcome to BP and hopefully we meet soon.

Best of the luck!

Hi Sanjeev,

In my case I started this year. In the beginning, I made my offers under my name, but after I realized it was better to form my own LLC. I met a couple of investors with more experience than me in a field trip, and they were using their own LLC.

I am a lawyer in my country so I am doing all the paperwork by myself. I didn't know you could form a company for the price that @Minh Le mentions. It is a good option! 

If you decide to make all the paperwork a good start might be to visit the web of the Secretary of State in California ( http://www.sos.ca.gov/). Also have in mind the tax in CA for forming a LLC is $800.

Good luck!!

It is marked on my calendar! See you soon. Thanks!

The best way to find a REO property is through a RE Agent of your area. As Chris and Ryan have mentioned REO is hard right now, but also it is important don't get disappointed and keep looking for those ones.

In my case I had the experience with a REO property. My RE agent showed me the house, the asking price was $235,000. I made my offer the same day for $261,000 ($20,000 more!) and getting over the competition as the agent recommended me. We couldn't believe it when we knew someone else get the house. He or she offered $ 295,800 and the property was flipped and sold for $394,000 in San Diego area.

For one hand, it is difficult to access to these properties. For another hand,  there is a lot of money to be made, just focus on adding value to the house to get a good price when you sell it.

Good luck! 

Welcome to the forum @Desy Willis, here you will find very good information. I am a new investor too from San Diego. A seasoned investor recommended me to read the Beginner Guide for RE Investing and it is a great point to start. 

Good luck!