All Forum Posts by: Randy Brockett

@Brant Jones

I am looking at that area also and have not yet done a real estate deal to speak of except real estate stocks as I am an active trader. I have studied all aspects of real estate and am friends of many investors and real estate attorneys but have been so busy with others ventures and trading as well as my engineering job I have not jumped in. Anyway, enough of my background, the reason I am expressing interest is because I work in the Beaumont/ Banning area as I know you should be familiar with since you are in Redlands and I frequent the REIAs around Riverside County. Additionally, I lived in Birmingham and the surrounding areas of Walker County, Tuscaloosa County and Shelby County from 1994 to 2008 and I know the areas well at least since 2008? Maybe we can chat if you are interested. PM if you like. Good luck.

Prime real estate located in La Jolla, CA. Now something I did not know was that the many other homes not like this one but the nice palatial estates along the La Jolla cliffs that go for 10 million plus cannot be financed and must be purchased cash because that area is the fastest eroding coastline in the U.S. and parts of the houses up there frequently fall in the ocean. When this happens fines can be 500000 daily. This information was from a kayak guide during a kayak trip in the ocean so I do not know if it is true. By the way this house is across the street from the ocean so it is not in danger.

@Cornelius Charles

@Frank Nesbit

Thanks for the suggestions and I agree it is not real estate because it is in a park but if running numbers means there is a profit potential it could be an option. I think I will have to pass because of the high lot rent and it being a 55+ park where the park management does not seem to be to cooperative. Trying to figure out how to structure a deal seems above my level of experience so I will stick to my original goal of a live in flip or finding a 2-4 plex and live in one while fixing it up and renting out to others for a year or so and gain some experience.

Hi everybody. I am new to real estate except for all the reading and podcasts. Any advice would be truly helpful as I want to get started. I found a mobile home that I thought about as a first deal but the cons are that it has been listed for 43 days and since it has not sold and the fact that it is listed means that there is no way it could even be a deal. Another negative is the high lot rent for the area ( 595 per month) and this is a large 55+ park in Riverside county in California. I am not 55 and I was wanting to do a live in flip or a slower flip to learn the ins and outs of rehabbing at a discounted price so management would see if I could live in it part time. The price is 12500 for a double wide 1980 home that needs some TLC. The part that has me considering this is that I see similar ones for sale in the 18000 to 25000 range. The other thing is this is a probate sale and the agent said the person that inherited this was going to give it up to the park because they cannot afford the 595 a month, as per the administrator they have 3000 due to the park. The agent told me the person was offered 10000 and did not accept the offer because at the time it was just listed, then after another week or so tried to accept that offer but the buyer had already bought something. This leaves the question now that since they are motivated and to the point of giving it to the park or possibly accepting an offer of what I see would work for both parties is 5000-6000. Any thoughts by the very knowledgeable BP crowd. Thank you for any responses.

@Adam Abdullah

Good advice from all the people saying that you need to build some experience and success because no doubt your dad is a smart man. Stocks can be very profitable and liquid if trading or holding the right ones and also very risky and volatile. I know because I have traded for some time and I sell premium on the basis of volatility (selling options that are overpriced because of a high volatility and liquidity) Mutual funds, index funds and REITs are a different ball game and can provide steady returns (6-7% i.e. Vanguard) over the long term in most cases except if you get caught at the wrong time during a market crash as you retire. Ask his annual returns percentage wise and that will give you a goal to beat many times over hopefully at some point in REI when you gain experience. I am also new to REI except for the countless RE stocks and all the related industries that trade in correlation with them during market cycles, but looking for deals, creative financing etc.. I see I have a lot to learn, so I am learning a lot on BP and finding mentors at local REIA's and hopefully have my first deal or deals done before summer is over. Good luck.

@Account Closed

 Thanks and I hope to get some insight of the area from a person such as yourself.

@Karen Margrave

 Thanks

My thoughts are that this will be extremely helpful for newbies like myself and all others considering entering a new avenue of real estate. I am looking at properties in the So Cal mountains for such an opportunity or even a live in flip since I love the mountains. I work in Banning CA. at the base of some great mountain towns like Big Bear, Lake Arrowhead, etc.. and would be willing to commute since my job is somewhat flexible. BP is an incredible wealth of information.

Congrats to all the younger investors and having your priorities straight. I am the old guy as I am starting this year at the age of 49 after a life of all over the map. Mid life change and looking forward to the challenges as it seems I have lived my retirement days in my younger years so now is the time for work. Live in flip, vacation rentals and wholesaling as well as my flexible day job. Good luck to all.

Nothing yet, but thanks to all the motivation and wisdom from the people on this site I hope to make my first investment before years end. I have read plenty and it is time to take action. Being from the Southern California area makes it harder as I would like to buy and hold a small multifamily and/or do a live in flip. Maybe out of state??