All Forum Posts by: Shaun Pruett

Thanks, @timothyryan. Are you finding any deals to wholesale in matro Los Angeles?

Thanks, Ciprian.

So, would multifamily units be a better strategy in Los Angeles? 

I haven't found anything for $200,000. Maybe a big time fixer upper would go for that price. 

Imagine if you purchased a buy and hold rental for full price, which near me in Bellflower, CA is $300K - $400K for a SFR. No one is going to pay $7,000 - $8,000 for rent, which is what you would need to be within the 2% rule.

Los Angeles is a different animal that many markets where houses are selling for much less money for much more home.

Nice! Thanks, @justinhowe. 

By the way, how is business out in Chandler?

Hello, BiggerPockets!

Is it possible to wholesale a SFR if it has a balance left on the mortgage?

If so, how can I know if there is a balance?

How would this impact the typical wholesale process below?

1. Find seller/property

2. Get property under contract

3. Open title with title company

4. Find cash buyer and assign contract

5. Close sale 

6. Get paid

Thank you!

I agree. Trust is key!

Ha! @paulwinka I think you sent the follow up re the @ while I was replying to your question. Thanks!

@paulwinka, thanks for the question.

Door knocking is a few steps down the path for me. I'm still learning and preparing to launch. Been at it for just a week now.

Off the top of my head, I think I'd simply make a friendly introduction and briefly describe what I do. Then try to ask some questions to learn about them and their involvement with the property. I'd listen for cues that might help me show them how I might help them. If their not the owner I'd ask for the owner or property manager's contact info.

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Off topic, how do you do the @member thing? I tried but it didn't create a link.

Thanks!

@seanotoole

Thanks for the insights.

I did some research on LA County and found the link below. Looks like data is available online as a paid service.

http://assessor.lacounty.gov/online-property-datab..

Thanks, again!