All Forum Posts by: Randy Sanchez

Jason,
Thank you for your post. You and Joshua have definitely motivated
me to attend my first REIA. I’ve been reading articles and a few books
but for some reason I still don’t know were to begin. I’m hoping that
by attending a REIA it’ll jump start my success as it did for you.

Do you have any suggestions when attending the REIA. Should I get
some business cards made prior to attending? Once again thank you
for you post.

Joshua,
Thank you for the advice. I really appriciate it.

I'm new to real estate investing. I'm interested in wholesaling and want to attend my first REIC meeting. Can anyone recommend
a good REIC near Downey, CA. (L.A. Region)?

I just know the basics of wholesaling. Should I gain more knowledge before attempting to attend a REIC? Any advice would be greatly appreciated.

Does anyone know of a good Title Company near Downey CA.
(Los Angeles Region)?

What questions should I ask when calling Title Companies? Any advice would be greatly appreciated.

I have read that the 70% rule should be applied as follows before making an offer.

Example:

$100,000 ARV

minus 20% profit

minus 10% holding and closing cost, including title insurance,
four to six months interest on loan, and realtor fees

equals $70,000 (70%)

minus repair costs $15,000

minus loan points $1,500
___________________________

Purchase price $ 53,500

Is this correct and is this still applicable in today's market?

Thank you for your replies.

Is any here from Los Angeles County? Does any know of a good REI club in Los Angeles County?

I know there are numerous books on rehabbing,
sub2 and lease options, but are there any for the
individuals interested in wholesaling? I did a web search and couldn't locate anything. I also tried my local library.

Does anyone know of a good REIA near Downey, CA. (Los Angeles Region)?

Has anyone tried the Armando Montelango mentoring program?
If you have your comments are greatly appreciated.

Can anyone recommend a mentor? How would I go about finding a good one? I want to get started in real estate investing but I definitely need a mentor. I was actually contemplating the Armando Montelango course but the price is outrageous and I'm not sure if they actually produce results.

FYI: I live in Montebello, CA.