All Forum Posts by: Fernando Ruiz

Excellent, Elegant, Profitable FIXER in CARMEL BY THE SEA... Paradise lifestyle only 3-4 block away from the beach.... This home seats on an oversize lot with massive potential to maximize it in many possible ways. OUTSTANDING LOCATION FOR A GREAT RE-DEVELOPMENT!

NOT MANY COME ACROSS AT THIS PRICE WITH SUCH A HUGE SPREAD!

https://www.dropbox.com/sh/4t8xcmtbho1ao0i/AABqhxaBoWMuL3GzTGwQgjNda?dl=0

-Deal analyzer (here you will see that even when you are using financing the numbers are outstanding)

-Repair estimator (show what we are looking to do to the house)

-Investment Summary (shows the comps)

You will also find the pictures of the property.

Subject Property: 2713 15th Ave Carmel CA93923

• 1911 Sq Ft (2 floors)
• 3bd/ 3ba
• Built 1955
• 3-4 block from the sea
• 2 car garage
• RV Access(plenty on space)
• 6,000 Sq Ft Lot (Oversize for the area)

$1,600,000 asking price/ OBO

$25,000 Non-Refundable

$200K Estimated Repairs

$2,350,000 Estimated ARV(conservative)

Close date 10 days

All contingencies to be removed when submitting an offer

If you have a client feel free to reach out. We love working with Realtors and Brokers just add your commissions to the asking price.

Feel free to email me or call me with any questions or offers.

Fernando Ruiz

[email protected]

(209) 259-4801

Thank you

I drove by this set of 4plexes the other day and noticed that they looked all run down and have ply wood covering a hole where im assuming used to be the balcony. I would love to possibly purchase them.

But when i looked up who owned them i seen it was the local County housing authority... so im assuming people with section 8 live their.

So my question is has any ever purchased from a county housing authority or will they even entertain some one wanting to purchase their property???

Has any one ever encountered something like this??

Thanks in advance 

@Jason Hirko i will definitely take your advice and make that firm offer, with a contract ready to go.  Thanks!

@Manny Cirino i like the way you put that in perspective! Huge help! 

Thanks again

Thanks guys, both of your comments have been helpful and have givin me a boost of confidence!! I will stick to the original plan and numbers!!

i'd like to start off by saying this is my first deal.

I've been negotiating back and forth with this seller for about a month now. Have not yet put it under contract for a set price. property is located in Manteca CA. 

2bd/ 2bt built in 1922 total sq ft. 1200.

The comps show the property could go for 180k after repairs. But thier is 2 huge energy transformers 2 houses down. (Not sure if that is going to scare retail buyers and ultimately devalue the properties ARV??) The house it self is completely thrashed. I tryed partnering with another experienced local investor, he says the property might need new plumbing new electrical and redo the kitchen, bathrooms and bed rooms. Prettymuch the whole thing. He says its going to cost 65-70k to fix (if we get a good contractor). I have no idea how to estimate rehab cost, dont know if these numbers are correct.??

He offered her 63k for the property. She denied. Ultimately she contacted me again 2 weeks later and said she will do if for 80k and she owes 4k in back taxes and wants me to pay that 4k plus all closing costs. 

I don't know how to go about this, all i know is i want to wholesale it to another investor but dont know if theirs enough meat on the bone for me to get something if i agree to her terms at 80k???

PLEASE HELPPP!!

2bd/2bt. Built in 1922. House size:950 sq ft

Lot size:3500

Comps show around 180k ARV

Owner owns home free and clear, bought it Cash for $70k 5 years ago and TOTALLY Destroyed every bit of that house in everyway and equity it could have gained.

She wants 90k. And owes 4k in back taxes. I'm new so im not an expert at evaluating cost to fix it.

I invited a local experienced investor to look at the deal so i can possibly wholesale it to him. He says it needs like 60-70k to fix and their are 2 huge energy transmitters 2 houses down which he thinks the ARV is more around 165k. We offered them 65k and they said they need 90k.

What should i do??

I dont have that type of capital im New Help me!!!

Thanks in advance

@bhekizwe m. How can i get my hands on a "memorandum of agreement form"? Or what should it say? Because that paper is the one i will be recording correct?

There is a property here in California that looks abandoned and after doing some research I noticed that it's bank-owned. They took possession over the property about five months ago. The bank is in a different state(Florida) how do I go about contacting the bank to see if they would be willing to sell it to me?should i just Google the office number call them and see if i could speak to the department that is in charge of all the properties they own, or what strategy should i use and/or how do i go about this?

Im new to investing!

Thanks,

Fernando Ruiz

Im new to investing in manteca california and my question is when doing a wholesale deal do i simply need to have the owners sign a contract, and after asign the property to whom ever im wholesaling it to? Or do i need to have a memorandum of agreement signed and recorded with the County Recorder's Office also?

Thanks in advance

Fernando Ruiz