All Forum Posts by: Palani (Pono) Wright

No Worries, Yes...we'll try to hold one monthly same time, same place. Hopefully you can make it to the next one. I'll post it on this platform once I get a date.

Las Vegas Golf Center:

6730 S Las Vegas Blvd SOUTH LAS VEGAS, Nevada 89119

Located across the street form Town Square.

7:00PM-8:00PM

Hey everyone, this is a very informal meetup. No fee, no pitches, only good convos and meeting people …and possibly a few drinks. This event is for real estate investors, realtors, contractors, lenders and anyone who wishes to learn more and network with other real estate minded people. Bring your best foot forward to exchange ideas, strategies and most importantly your contact info. Let's see how we can grow our Las Vegas RE community together. Look forward to seeing meeting new REI people.

BiggerPockets is not liable for any transactions that may occur or arise from this meetup. Please do your due diligence when presented with any information presented or "deals" mentioned.

@Joe Funari Thank you

Kind of a rookie question but is there a site or a universal formula to estimate insurance when analyzing deals other than contacting a insurance agent in the specific market? 

Hey everyone, this is a very informal meetup. No fee, no pitches, only good convos and meeting people …and possibly a few drinks. This event is for real estate investors, realtors, contractors, lenders and anyone who wishes to learn more and network with other real estate minded people. Bring your best foot forward to exchange ideas, strategies and most importantly your contact info. Let's see how we can grow our Las Vegas RE community together. Look forward to seeing meeting new REI people.

BiggerPockets is not liable for any transactions that may occur or arise from this meetup. Please do your due diligence when presented with any information presented or "deals" mentioned.

Hey everyone, this is a very informal meetup. No fee, no pitches, only good convos and meeting people …and possibly a few drinks. This event is for real estate investors, realtors, contractors, lenders and anyone who wishes to learn more about real estate.. Bring your best foot forward to exchange ideas, strategies and most importantly your contact info. Let's see how we can grow our Las Vegas community together. Look forward to seeing meeting new REI people.

BiggerPockets is not liable for any transactions that may occur or arise from this meetup. Please do your due diligence when presented with any information presented or "deals" mentioned.

Feel free to reach out to me with any questions you may have.

Investment Info:

Other other investment.

Purchase price: $3,987
Cash invested: $5,430
Sale price: $17,900

This is a portion of the listing ad:
Wonderful, Level lot, Overlooking the 13th Green of the Flying L Golf Course * Build a home on your time schedule, or just hold on to it as an Investment, because they aren’t making anymore land in the Texas Hill Country;) Many Oak trees adorn this 1/4 acre lot and a good portion of the lot has been cleared of cedar * The lot is almost a perfect square, which is great to build on

What made you interested in investing in this type of deal?

I've been wanting to test out a new market like Texas for a while

How did you find this deal and how did you negotiate it?

I sent out a offer letter to absentee owners who owned property in the Flying L Ranch subdivision with a price I would be willing to pay for their property.

How did you finance this deal?

I self financed the deal.

How did you add value to the deal?

I looked at previous sold and listed property in the area, came up with a median valuation and than offered a percentage of what I thought the values were.

What was the outcome?

I listed it with a realtor and had it sold a few months later.

Lessons learned? Challenges?

The major lesson that I learned with this deal is I have to be more aware of the flood zones in the area. Luckily, this property was not in a flood zone but another property that I had a opportunity to purchase,( a few hundred feet away) was partially in a flood zone that could of dramatically affected the exit should I had bought that property.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, I called a few agents in the area that seemed to have a lot of land listings but found it very difficult to get any of them on the phone. My hopes would be to list this property with agent that I could use for future deals but I don't think that will happen.

Great Video. I believe I saw that property on Zillow...(To new to take something like that on) It would be great to follow your journey on this one. Thanks for sharing. 

Investment Info:

Other other investment in Topock.

Purchase price: $3,300
Cash invested: $4,100
Sale price: $10,000

This property was obtained from a mailer I sent to out-of-state owner who owned property in Topock AZ.

What made you interested in investing in this type of deal?

I saw that there was a high demand for property in that area.

How did you find this deal and how did you negotiate it?

I sent a mailing campaign to out-of-state owners who owned land in the area. I initially offered $3k but we settled on $3,300.

How did you finance this deal?

Personal Finance.

How did you add value to the deal?

When looking at the properties in the area that were available on Zillow, Realtor & Redfin...I saw two things. 1. is that the realtors who were listing the properties put very little work into information about the property and highlighting the attributes of the location but 2. were taking REALLY bad photos of not only the property but also the surroundings.
I just did the opposite.

What was the outcome?

I got a ton of interest with multiple offers but took the easiest one that was able to close quickly.

Lessons learned? Challenges?

1. Paint the picture for the end buyer.
2.Take good pictures of not only the property but the surrounding attributes.
3. Price correctly form the beginning.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I listed this property myself on my site, all my socials including youtube and zillow. (All Free)