All Forum Posts by: Michael Arreola

Hey Adam, 

So I'm looking to see which strategies are most effective in the local area when it comes to wholesaling. Wholesaling is the art of finding off market or below market properties and assigning the contract to an end buyer while collecting a "finders fee". I see a lot of bandit signs and have called them just to see how everything is in the area and am anticipating some call backs in the near future. 

Hello bp! I’m looking to connect with some wholesellers in the San Jose South Bay Area! After what feels like an eternity, I’ve decided to stick with this particular niche in order to start out in real estate. I’m just starting out so I’m looking to learn about the local areas and which strategies are most effective in this market from direct mail to cold calling to SEO. I’ve been driving for dollars in “hot” zip codes according to list source and have sent some direct mail to these distressed looking properties with absentee owners. I will be attending Max Maxwell’s We live event in Dallas in March and am excited to jump in head first. If you’re just getting started, let’s connect. If you’re experienced and have several deals under your belt, let’s connect. Im sure I can be an asset. Thanks bp!

I'd love to be able to invest in the San Jose area. Unfortunately I am priced out of this market so I am looking elsewhere to invest. Mainly out of state because the landlord/renter laws are more favorable else where. 

Hey Sam this is an amazing post. Keep up the hard work. Hopefully I can achieve something like this next year. Happy investing.

Hello bp! Thought I’d try something different on bp so here goes. I am in need of a new suit or two. If anyone has a recommendation of a great shop that I should go to in the San Jose area please let me know. I don’t have a special event coming up but you never know when a suit will be needed. Thanks and happy investing. Mike

Hello fellow BPers

San Jose CA is now making it easier to start building "granny units" in backyards of single family residential properties. This is Amaaaaazing news! Not only is this going to help out with affordable housing in the bay area but also help out with the mortgage. You might be able to rent out the entire home and live in the ADU. There needs to be a name coined for this.

This may be a great way to start evaluating properties in the south bay as well. Another opportunity for value add in a very inflated market. 

Just thought I'd share this information if you guys have not already heard it. 

Happy investing!

-Mike

Hello Tom

A lot of the rooms on craigslist that I've seen over the years have lots of restrictions and rules which can make it difficult to find a tenant for a room. Imagine trying to raise a family and you may have to move your kids together in one room just to pay the mortgage. It is not that easy of a sell in any market. 

Bp just got even better. My forms are outdated and not state specific. Thank you for adding so much more value.

Hello 

I would speak with a great real estate cpa and some lending officers. Come up with a strategy to be able to borrow from the home using a heloc. Ask your CPA how can you minimize the taxes that have to be paid once the house is sold.  Maybe adding someone's name to the title will help with the Prequalifying factors that are required for certain heloc products. 

I sent you a pm let me know if you might have any other questions. 

Mike 

Thank you guys for your responses. I think my EA is a winner and I’m going to stick with him for another year!