All Forum Posts by: Mike Schultz

Hey everyone!

I'm looking for some advice in regards to a property I recently found. The property is listed for $137,000 and I would be purchasing it as an investment property. So, 30% or so down payment. I don't have the 30%. I have equity in my current home in the amount of about 20k and about 5k in cash available. How can I make this real happen? I was thinking hard money or possibly a HELOC to at least get the 30% accounted for.

Thoughts? Thanks!

@Etienne Martel - Thanks for the well wishes. I will definitely be in touch with you along my journey. Connecting with others is ultimately the right way to pursue this!

@Mark Pedroza - Thank you for the insight here. I will definitely be doing my due diligence when working out a deal to stay within the lines. I know how quickly things can go into the red in this business. Do you have any recommendations for a good RE attorney I can contact for insight?

@Chris Mason @Brent Tarnow - I just RSVP'd today! I'll see you there. Thanks for pointing me in the right direction here! Cheers.

@Ray Lai Thank you for the informative answers Ray! Part of what embodies BP to me is people helping people and you've displayed that. I'm very interested in splitting profits with someone that's head and shoulders more experienced than me. That's the dream. I'll stay in contact and thanks again!

Hey everyone. I'm a long time BP lurker but I've finally gotten around to making an account. I am interested in really learning the ins and outs of wholesaling real estate deals. I have a targeted list focusing on 4 counties in the area. I would love some insight from existing investors on what I can do to limit any mistakes I may be prone to making in the next few months. 

Topics such as:
Title Company best practices? Any suggestions on solid wholesale friendly companies in the Bay? What do you look for as a fix and flip investor on a standard single family, say 2br - 2b 1200 sqft home in the Bay? How can I better connect with the SF community on BP?

Thank you!

Thanks for the reply. Let me comment on a couple of your points.

Originally posted by @Jonathan Damon:

-Totally understandable. I realize the Bay Area is an appreciation hotbed at the moment and more than enough money is present in the market. As with everything, getting started is always an uphill battle and I get that.

Yeah. I'm on the hunt for a solid title company to work with. Reaching out to plenty nowadays. (Suggestions from other Bay Area residents appreciated!)

And I'm happy to! Posting on BiggerPockets is part of that process. 

Hello everyone! Happy to finally be on Bigger Pockets publicly. I'm a long time lurker, you could say. 

Why I'm here:

I've been passively interested in real estate investing for some time now and have finally hit a point in my life that I need to take action towards my goals or I may never do so. As I said in my title, I've taken action. I've started sending mailers out to qualified leads recently with full intensions of going through with a sound deal if it comes about. 

Questions:

1. I want to know I have someone to reach out to if a deal makes sense. Ultimately, I need someone who invests in the Bay Area. Or even several people, which I'm sure will come with a solid deal so I'm not asking for that necessarily.. But more importantly, I need to know what numbers make sense so I don't waste their time as well. Is there anyone out there gracious enough to connect with me and inform me on some examples of desirable deals I should be looking for?

2 (3 and 4?). Drilling down a bit.. I've done enough research to know the mile high process around wholesaling real estate and negotiating to reach my MAO. The problem is: Once I actually have the deal, the desired purchase price and a cash buyer interested, what next? How do I approach a title company with this situation? How will things go on the day of signing? Am I even there or is it just the cash buyer and seller? Probably pretty basic questions, I know.

Thanks for reading! I appreciate any and all insight offered.