All Forum Posts by: Ram Chandrasekaran

I agree, Jason. Apparently, as I am starting out thought this would give me an exposure to just get out there and see if I can learn something out of it. But again, I see your point... Thanks much for your response!

I will wait for a 'potential' deal...:)

Cheers
Ram

Hi Tasha
you may want to read 'Guide To Investing' and 'CashFlow Quadrant'... I have read them too. But if you are looking to advance in RE investment theory, you need to know what kind of investment you want to do... couple of books I have are - 'How to make big money investing without cash or credit' by David Finkel (if I remember right) and 'A Rehabber's Tale' by one of our BP members - Richard J Warren.

If you are talking Stocks/Bonds - best book EVER (in my opinion) is - 'The Intelligent Investor' by Sir Ben Graham (Warren Buffet's Guru in Stocks/Bonds).

Hope that helps.

Cheers
Ram

Team
I have started out on WholeSaling recently. My advertisement in Craigslist has attracted 1 Seller. Apparently, the person has a 5 Bed 3 Bath house about 20 miles from my city (Brentwood, CA). I checked out Zillow and Trulia for the average price in that area and it appears to be $350,000 +/- $10,000. The owner owes 100K more than that and also do not want to do a Short Sale on the house and is looking to buy another after selling this one for what he owes.

I know this is a NOT a deal. Question is, does it make sense to schedule an appointment and go meet this person, talk to him and find out more? In summary, any ideas on the next steps, will help me a LOT.

Thanks much
Ram

Originally posted by Taz:

So, I guess no one is bothered by the fact his "Rich Dad/Poor Dad" book is fiction?

http://johntreed.com/Kiyosaki.html

Well, it sort of did.. LOL. Apparently, the website owner's eMail FRIEND is wrong about the Inflation and the Link to Gold - as far as I know. The Inflation rate published always exclude Oil and Food and if we include them it is way higher than the one they publish...

As for the Gold, the other currencies are doing well because US Dollar is not. Once things changed to USD instead of GOLD, our capacity to raise capital (by the Fed) increased exponentially and thats the consequence we face now. I guess both seems to be talking with less facts in their hands and secondly, are also HIGHLY BIASED, although I agree sometime Robert Kiyosaki can get ahead of himself (lot of times). He is a Self-Confident RAM - Aries (Zodiac) ;-). Need I say more...

Cheers
Ram

While I may not be the right person to comment about Advanced Courses, I sure can about the Personal Coaching (sort of an Intermediate RDPD Course) that my wife and I spent about $5600.00. We used to have a Personal coach who will call us every week and talk to us for 1/2 hr. We had to complete assignments that were there on the website and report progress of what we did last week w.r.t investing. It is for 16 weeks and then we are on our own although they give free Resource Line access for 1 yr + website access to download some forms and documents they have on their website.

I have invested in NONE after that class and the class completed around August 2007. I see someone commented that if you pay NOTHING you get NOTHING. Well, we did pay $5600.00 and so far I managed to pay an additional $100-$200 to repay that debt on my credit card.

In summary, it is not about how much you pay, it is how much you LEARN and get to KNOW and what you DO with which you LEARN and KNOW. I can spend $100 and print business cards, knock on doors and be aggressive to find a good deal or I can attend a personal coaching and learn that I knock on doors, go to the title company and get the NODs, go to the courthouse and find the home address that I interested to invest in, etc etc.

Yes, I owe it to the Personal Coaching for giving us some crucial details to START investing. We learnt terminologies, what to look for, how to research about a house, how to network, how to find REI clubs, etc. I gotto THANK them for that... Other than that, if you do NOT have the DESIRE to invest and make money, NO course can make you do that!!

Hope that helps

Cheers
Ram

Hey Eric
I think you are trying to stay too close to your home to identify investment properties. There are places in CA about 50-100 miles away from us selling for 100K and less... IM me and we can plan to get together sometime to talk about it on email or Phone and may be meet up soon. I live in Concord, BTW.

Cheers
Ram

Hi Lady Marshall
I got a eNewsletter from Marshall Reddick about Foreclosures in CA. The city I remember seeing was San Fernando Valley, CA. You may want to drive-by or do some research in that area. IM your email ID and I will forward that email to you.

Cheers
Ram

Thanks much to you both for the response! Took me a while to respond back. Sorry about that. Apparently, the Principal refi is the 'Loan modification' whereas I am doing a Short re-finance which means that the lender is willing to take less than what is owed on the property and I go with a FHA financing. Thats what I meant 'Short' refi and my friend who I am working with informed of a possible Score impact (a definite impact)!

OTOH, what James Williams said is true. I have NOT defaulted neither will I in the future during the process of this Short refi. Fingers crossed!

Please feel free to chip in more comments. Thanks again!

Cheers
Ram

Hi LadyMarshall
I wish I had done some deals in areas near San Diego, but no. I myself am starting out so there isnt much I have done... Actually, NONE. :-). However, I used to go to an investment club meeting - Marshall Reddick and I used to get emails from them about Foreclosures in Ventura County (if I remember right), places near La Jolla maybe. I cant recollect exactly. Also, I remember seeing in the news or on the internet places like Thousand Oaks, Oxnard were hit bad due to the subprime downturn. I stayed in Oxnard for a week's vacation and I am quite certain some of them are vacation homes which you might find a deal.

Those are the pointers I can give you. Sorry that I am not of much help.

Good Luck, again!

Cheers
Ram

Hi LadyMarshall
I am beginner and starting out on Wholesaling too. I disagree on the fact that Wholesaling is not possible in CA. It is indeed!! You gotta look at cities or specific Zip Codes where the Foreclosures are high. Check out older than 30 days MLS listings in CA (in your city or county). Drive by and see how good they are. Hypothetically - Chances are, some houses that are listed for more than 120 days would not have been maintained well, they would be sold as-is, banks will be willing take a very low price as none turned out to buy that house - That would be something you might wholesale.

Dont look for 1% rule or 2% rule when you want to wholesale. It is not always that which determines a buying decision of an investor. Sometimes, they see the value of the house (if rehabbed and they will sell it for retail). I am jus thinking out loud. Dont GIVE UP! :-) - Well, that goes to me as well when I say that to you.

GOOD LUCK!

Cheers
Ram