All Forum Posts by: Samuel Persson

There is a property near me that has been listed on the MLS for a bit. It's a small 1Bed 1Bath on a .25 lot. It's right in the middle of downtown and walking distance from everything. The issues my realtor mentioned are that it's backed against a railroad tracks and it's a homeless thoroughfare. The railroad only gets used once or twice a day during the week for hauling lumber. Do any of you have any experience with location like this?

Sam

OK so based on my findings from BP it is not worth the risk. Looks like my best route is to get my Realtors Lic and hold that for a couple years then get my brokers lic.

Really looking for everyone's input. or at least point me the right way

I've read on the forums a bit about how wholesaling can technically be against the law due to the similarity to brokering. In California is it true tthis would be illegal? If so what is the workaround? Or is it flat out not worth the risk? I do not meet the experience requirements for being a broker so obtaining a Lic would not work. My funds for investing are slim so I'm looking to build some Capitol. 

Thanks,
Sam

Speaking of 5plex and up, how do you find those for sale? It seems they aren't on the usual MLS apps like Realtor.com and such. Loopne the?

Sam 

Encouraged by seeing you doing exactly what my goals are! 

Side note, I've placed a profile picture, but it doesn't seem to stick. Both on my Android phone and iPad. I assure everyone I am real

Hello all, I am excited to be a part of this group. I'm 28, married, 1 daughter and one more due mid December. My primary income is Electrical Contracting in the California Bay Area. My portfolio is currently two properties: 1: My primary residence 1450ft 3 bed 2 bath 1980s home. Paid 145k, 3% down @3.125% interest. Have a grant for 20k of the loan for 30yr no interest due on completion of 1st mortgage. Purchased 2013. 2: 1/2 acre lot next door to primary residence. Needs to be cleaned up for trees and brush. Plan to entitle and sell later. 20k purchase price, 2k down, 6% interest, 15 yr amortization on a 7yr loan. Loan from property owner. Purchased 2016 Long term goals include: Purchasing or building small ranch 20-40 acre to include primary residence and extra home for elderly family. This is set at 5yrs out. I'm planning to stockpile cash until then, but could do some wholesale or flips to build up the cash. Would like to build a portfolio long term to allow several horizontal incomes to allow retirement Any and all input welcome! Thanks, Sam