All Forum Posts by: Steve Riester

Hello,

I am looking for 1099 work to help you, in any way that I may, with your investment pursuits.

Currently, I work mostly on my own schedule as a 1099 contractor for a small business. So my time is quite flexible.

My career experiences are held within Sales, General Management, and most recently as a Vice President. I have consistently aided in the growth of multiple companies through Team Building, Sales Training, Management and Leadership, Marketing and Customer Retention/Relations.
I also have a strong confidence in Excel and the MS Suite, QuickBooks (desktop and Cloud), Photoshop, Gmail, Outlook, and more.
The areas listed above are what I feel may be the most relevant to this industry and the operations within it.

Personal Focus

My goal here is to apply the real estate knowledge I have acquired over the years to slowly prepare myself for a career shift. I love real estate and the many facets of real estate investing. Although I have learned a lot, I am learning everything alone and conceptually. I want to acquire knowledge at a much faster and more powerful rate through real experiences and tangible scenarios.

I thoroughly understand that in the world of sales, paying yourself to do the most rudimentary and routine tasks can end up costing a lot of money if it's keeping you from searching for and closing on deals. I would love to help someone increase their 2024 earnings!

Thank you for your time!

Steven Riester
stevenr.creative at gmail dot com
818 - 3OO - One One 9 Two

I reside in Camarillo so if you require on-site work I can assist you in 
#ventura #venturacounty #santabarbara #oxnard #ojai #ojaivalley #santarosa #santarosavalley #conejovalley #simivalley #thousandoaks #westlakevillage #newburypark #calabasas #sanfernandovalley #woodlandhills #agourahills #lynnranch #southerncalifornia

Hello, 

I am looking to team up with a private investor or small firm that might have a need, or desire, for a certified property manager to handle some work that can be done remotely. Part time work is just fine too. 

Applicable experience includes 2 years leasing experience and leasing office assistant management, as well as 3 years of general management.

I'd love to assist in remotely handling ;

rents, tenant letters, contractor calls & management, the building and managing of your property listings, client and lead correspondences, scheduling and coordination of meetings, and more.

Located in Ventura County California but I can assist any locality with these, if needed.

Thank you so much!

Jasmin ( Steve's Wife )

Thanks, was not sure if that forum should include services being offered.

looking to team up with a private investor or small firm that might have need for a certified property manager to handle some work that can be done remotely. Part time is okay. 

Rents, letters, contractor calls and management, building and managing ads, etc.

Located in Ventura County California

 Thank you.  I am familiar with wholeselling/wholetailing but this buyer wants at least 5 years of payments so that they can alleviate tax obligations and make some cash. So they dont want to sell right away. Records show they paid 130k in 1991

Ideal goal is to cashflow $700 a month, at least, and then get up to at least $1000/month after one year of renting. my mortgage payment should be 2500-2800 so this seems realistic.
 

hello again,

i have worked out a 'soft agreement' for seller financing from a sfh seller.

they own the subject property free and clear. asking price is 475,000. Just in talking and building report, seller offered 455,000 because they like me. So i don't really want to offer lower. maybe a little more off contingent to other details of my offer.

Local comps are 490-525k in the area with updates. Subject property is a 1991 build and has never been updated. it is a One Owner and very clean, but dated inside. Inspection report came back with flying colors.

Area rents are $3500, using BP calculator.

They also offered 5% interest, without me asking. I know that ideally they'd like to finance for just 5 years and walk away. I would need longer than that, due to monthly costs. 

Absolutely no other details regarding the deal have been mentioned from either party. We are to talk more on Wednesday, 6/7.

I am not very liquid at the moment so i wondering if i should offer a 30 year with a 5-7-10 year balloon and refi, or interest only for the first 2 years? This would be my first deal and I am looking to buy and hold as a rental.

I thought about pulling 30k from my ira. Giving him 5k as a down, plus 'three months payments' up front, then the balance used for some sweat equity updates.

All IRA money would have to go 'directly" to the property so i cant just hold the funds to use as holding costs, etc, thus the 3 months up front. That would just go down as a down payment as far as my broker is concerned.

Any ideas?? thanks for your patience, i'm still learning this angle.

Steve

 also interested in learning of the next meet-up. camarillo resident here

 Yes correct. Although now the deal options have narrowed further, and have simplified.

sub-to deal is dead.

sellers want 600k for the home, I pay closing costs. Though there won't be an agent, just escrow, attorney, transfer, etc etc. Estimating high at 12k

the current market value on the subject property is estimated to be over 725, as-is, before rehab. Rehab estimated at 50k. I'm doing a walk through inspection with a GC Wednesday. 

ARV estimate is 800k +/-. I'm still finding stats when I have free time and plugging them in.

The house is not habitable and needs to wait until rehab in complete before I can think about tenants. 

I read in one of these articles that a newbie got a loan that had deferred payments until after his hoise was complete. Does anyone know of such a lender? Seems to good to be true but the interest rate tells all.

 BUMP with update

 I think that you are right that going owner occupied would be best, on paper anyway. My situation makes it less comfortable to do so. I have just gotten a lower rehab number, almost half, so now im reevaluating how to secure funds for ust 20% and rehab costs. Then pay the borowed back with interest after i refi to get the titel in my name. Hopefully 12 months or sooner.