All Forum Posts by: Seve Chong

@Bill Jacobsen That definitely makes sense and answers my question. Thank you so much, Bill!

@Account Closed Thank you so much for the honesty, Minh. As a newbie I know those are definitely the things I need to hear and it is much appreciated.

@Raymond B. It's working now! Thanks to you, Raymond!

@Christopher Leon Thats actually a really interesting take on the license. I guess I've never thought about it that way! Thank you so much

@Mary B.

@Jerry W.

@Leah M.

@Engelo Rumora

Thank you all for such a warm welcome :) i look forward to seeing you guys around here!

@Brian L. Thank you so much! I've been trying to scour the MLS as I've read that many have had success getting deals on it but unfortunately, I haven't been able to find anything really good. I'm pretty sure its user error. Do you have any tips or criteria that you use when filtering thru listings?

@Paul Timmins I just started making my first couple of calls today. Not going to lie, I was a bit nervous and stumbled over my words a little. Do you use a script or anything to steer the conversation?

@Brandon Turner Thank you so much Brandon! I definitely will set up those keywords and appreciate the links! Those are articles I'm definitely gonna be referring back to quite a bit.

@Bill Jacobsen

Bill, Thank you so much for your response. That is what I had thought, unfortunately. It seems risky to hope everything will go accordingly just to get a deal under my belt. I definitely want to avoid just jumping into the first "deal" I find. Also, you make a really good point about having to invest where the money is. I've tried reading about it on here but If you don't mind me asking, do you have any quick personal tips for a newbie in identifying what a good market is? do you have any criterias that you use?

Thank you so much!

Hello Everyone,

My name is Seve and I am a 23 year old guy from Anaheim, CA! I have been scouring this website for the past couple of months and am floored by the camaraderie and selflessness shown by the members!! I have read the beginners guide a couple times now, some of the books that members recommend, and have listened to every single podcast!

A little about me, I got my real estate license about 5 months ago and have been trying really hard to get some deals going. Specifically, I am trying to focus on and learn as much as I can about wholesaling and fix and flips. I plan on being very active on the this forum as I am sure I will be running into many questions, so I apologize in advance! :-)

Lastly, I understand the importance of mentorship. Aside from using BP as a resource and virtual mentor, I'd love to find someone who is willing to show me the ropes. Now I know I need to bring something to the table for such a relationship to work and I can tell you I have the time and willingness to do any legwork to be a useful asset in order to learn what it takes. I can guarantee you I'd jump through fire to be successful at this. With that being said, I'd love to offer free coffee or drinks to anyone that is willing to spend a little time with a newbie!

Thank you and I look forward to being apart of this awesome place!

Hello everyone,

I am a new investor in so cal looking to lock down my first deal. I have read much about the 70% rule of thumb for purchasing properties. Given the market that I am in, it has been difficult for me to have offers be accepted within those parameters. I have time on my hands and am okay with a lower spread to get the experience and knowledge. Is that a good mindset? I am in negotiations for this property and I am not sure how to make this a good deal for all parties. Here are the numbers that we have:

ARV: 420-430K

Repairs: ~30K

Potential Offer: 325,000 (12 points annualized)

Any help would be greatly appreciated! Thank you so much.