All Forum Posts by: Rodrigo Donoso

David, thanks for responding. Lots to explore in your response.  I will reach out to Jeff.  

I will be looking in LA area not just near Santa Monica.  Also, i think i can raise about $80k (private money) so partnership will be able to put $120k into deal.  This gives a little more flexibility. 

Again, thanks for responding.
R

Kody, thank you for the response!

Yes, i read REIC are good places to find reputable wholesalers.  Im also contacting "we buy Houses" ads on Craigslist.  

I'll be looking for a deal in LA area. Won't limit myself to just the westside.  Traffic is a way of life out here. ;)

Again thank you for responding. And if i have a questions on a multifamily i will definitely reach out.  

70% of ARV - repairs = offer
So, that means i should pay 75% of ARV so wholesaler gets 5%...generally, right?

Best.
R

Hey everyone!

I've been reading up and listening to lots of the info on BP and in Podcast 37 Aaron Mazzillo talks about the "easiest" way to get started in REI. Aaron says buying a property from a wholesaler is a good place to begin. It sounds like something that could be really good for me. Below is what I bring to the table...I don't have any experience in REI but I do have other things that I think are valuable.

I have really good credit, about $40K saved, a good/trusted friend who is a talented rehabber who wants to work with me to fix & flip properties, project management experience, and another friend willing to put money into the fix/flip project (private money). 

I would love to get feedback on what you guys think of entering the investment game using Aaron's suggestion.

Also, with what I have, anybody else have a suggestion on how I can start?  

Thanks!
Rodrigo

Hello, All. 

My name is Rodrigo Donoso. I'm a newbie to real estate investing but am learning a lot by reading the blog posts on BP and listening to the Podcasts. I currently work in school district bond construction management (not out at the construction site, but in the administrative offices).  I've been thinking of learning real estate investing for a long time and am now in a position to finally start. Yay for me!

I found BP through Google...I was searching different real estate investment terms and the site kept coming up. After I signed up, I keep getting emails from Allison and Brandon. :-) I finally clicked the link to the Beginner's Guide and now I'm hooked.  

As I learn more and more I see there are many different ways to make money in this business. For me, I think flipping houses would be a good place to start.  I have ton's to learn, I know. I have co-worker/friend who used to be a general contractor who's want's to work with me in this venture.  My side of the partnership is finding the deals.  His side is the rehabbing. Ideally, I'd like to get the first deal by sometime this summer and flip it by sometime in the fall.  What I want most is a positive first experience. If I can manage to make money the first time I think it will make the second one a lot easier.  

Anyway, it's really cool to know there is such a large community of people willing to help others. I'm looking forward to adding my energy to the community.  

Thanks!
Rodrigo