All Forum Posts by: Michael Mora

You can't only look at the percentage made on gross rents as the sole income. What about the auxiliary services that property managers offer. The opportunities are endless. 

Originally posted by @Account Closed:

Originally posted by @Michael Mora:

Check out BrewRE meetup. My buddy Andrew Greer runs it. Laid back people who sell real estate and also investment, flip and do ground up builds.

Hey Michael, where can I find out more information about this meetup group, thanks!

Here is the meetup group link... https://www.meetup.com/San-Diego-Real-Estate-Networking-SDREN

Yes I should be there. WIth a 7-month-old makes it a little more difficult haha. Looking forward to it though. Cheers! - Mike

Bryce, I’ve helped friends try to do this in San Diego. It is difficult finding deals that pencil well with a low down payment on the MLS as you know. We were looking at 4plexs in golden hills, normal heights, Linda vista, city heights etc. and the prices were crazy for properties that needed lots of work. People are paying a crazy premium just to get an apartment. A million bucks for a dump apartment with a cap rate of 4 maybe. Pretty hard sell.

Check out BrewRE meetup. My buddy Andrew Greer runs it. Laid back people who sell real estate and also investment, flip and do ground up builds.

Interesting post. I am looking into 2-4 unit apartments and came across this post. I'm from San Diego and purchasing an apartment here is just out of my budget. Anyone looking at any other markets besides Las Vegas where you can buy multi family under 200K? I read an article recently that focused on Reno, Las Vegas, Bakersfield and Detroit basically saying the purchase price to rental price was great.

There is a new CA agent that just joined our office who is from Las Vegas and has been doing seminars at our office on investing in Vegas SFR and Condos and renting them. Is the multi family or SFR market better for renting? I hear the vacancy rates can be high due to the saturation of rentals available in Vegas.

Hi Brian

Thanks for the response! Yes I'm still here. I have been building up my buyers list pretty steadily over the past few weeks. Hope all is well.

Johnny,

I plan on targeting traditional sellers of single family detached homes under 300,000 cash buyers.

Thanks Steve I appreciate your help good thread I read through it. My question is not about the different types of wholesaling people do though. I am trying to find out if you put the contract into escrow right away after receiving a contract on a property? I would not want to open escrow only to not find a buyer in the time of my contingency period where I can back out. There are cancelation fees with escrow company I spoke with and I don't want to tie up someones property only to let them down.

Do any wholesalers not open escrow right away with contract in hand but first secure a buyer then open escrow?

I understand you should have a buyers list built prior to finding sellers but what if no one wants to buy your deal one you do have your list?

I appreciate any responses this is really helpful!

-Mike

I have emailed an escrow company and they do not allow for Assignments in my contracts. cpoy and pasted below

Hi Mike-

Thank you for your inquiry. We actually do not do these escrows (where you assign). We do have a cancellation fee. Please let me know if you have any further questions. I would be happy to get you some pricing if you would be interested.

Have a good day!

Does anyone know anyone Escrow Co. in San Diego that allows this???

I appreciate the help.

-Mike