All Forum Posts by: Sean Moen

Welcome Ben!

Being from Sacramento as well, it's nice to hook up with some of the new guys.

I went to the NorCal REIA meeting in March and it was fantastic. I had plans to attend tomorrow night but things have changed and I am no longer able to attend. I would strongly recommend going though. David Granzella puts on a great meeting and the attendees are fantastic.

Keep in touch and maybe we can meet up at the next one.

I didn't phase that correctly and should have put an emphasis on "Traditional Sale".

I am willing to sell but want to do it "creatively" - if you will - to generate funds and positive cash flow from the note I would hold against the property.

I've been thinking about how to best utilize my current residence. I have a great locked in rate and want to use it to my advantage - without doing a traditional sale.

Has anyone - or is it possible - to sell my own house utilizing the wrap around mortgage principles?

I can see the advantages of being able to get a down payment to reinvest in a small MFR and I will be able to capitalize on my lower interest for some positive cash flow.

All of the disadvantages I can think of involve some upfront investment for legal advice and work, time for further education and that's about it.

Any feedback will be greatly appreciated.

Thanks all!

I've got mixed vibes from the different conversations and articles I've read about participating with these guys.

What are your feelings on selling to these guys? Either on the wholesale or resale level? Speaker at my meeting said he sold them a deal that netted him $40k wholesale. He said flipped should have netted $71k. There was a definite tension vibe in the room when this entire session started.

I'll throw in my 2 cents. At one of my local Sacramento REI meetings last week, Invitation Homes was present with the 2 Local Principal investor guys.

Invitation Homes is the company that is doing the buying for Blackstone. I believe Invitation Homes is in several markets as well.

They told us they bought 1500 homes in 6 months and they are NOT just focusing on SFR. They are interested in SFR and MFR as well. Didn't mention anything about apartments but I took away that they aren't focused on that. In addition to Sac County, they are also ACTIVELY looking in the neighboring 6 counties. They were solicitating the investors in the room for business and provided some interesting comments (because there wasn't much of a conversation - they were nervous).

The broker-experienced gentleman said they only close about 20% of the deals they submit for. Also mentioned that they aren't going anywhere anytime soon because "real estate is hot".

Interesting food for thought regardless of what you do or don't read between the lines.

James Campbell Welcome and you have certainly found a goldmine here. I recently discovered BP as well and it's an amazing mass of information.

I would strongly suggest listening to the BP Podcast that they have just started realizing within the last few months. There are only 10 right now (11 should be on the way I believe) and are nuggets of information to help.

Good luck and see you around!

Damn you guys are awesome. Ordered by copies as well and thanks again to Joshua Dorkin & @J Scott

Well Doug R. and good luck!! Keep us informed and I look forward to sharing the same journey. I am at the same stage as you so keep the motivation up and keep your eyes on BP. This community has provided me with more information than any of the books I have read.

Congrats Sean! You have my admiration and best wishes. Please keep us new guys posted with your successes.

Hi All,
My name is Sean Moen. I reside in the greater Sacramento Area, CA. I've had a long term passion to get into real estate because I understood the potential. My friend/business partner and I have been gathering some knowledge for the last couple months and plan to start looking for our first REI opportunity.

The hope would be to identify our first property in the next 30-60 days and then find funding.

We both work full-time jobs and would love to quit and go full-time REI in 24-36 months.

We are actively looking for a mentoring opportunity. We can bring a lot of heart, determination and creativity to the table and are willing to do whatever it take to do some "on the job" learning and participating.

Big thanks to Joshua Dorkin and @Brandon Turner for creating this gem of a community.

Additionally, I want to thank everyone in the community - Veterans and Beginners alike - and look forward to becoming a part of the community.