All Forum Posts by: Ellis San Jose

I co-founded one of the largest real estate investor groups in 2007 " FIBI (For investors by investors) " with chapters around the country.  If you have an interest in starting a virtual zoom group, let me know & I can make it happen.

Join & network in local real estate clubs & events. Covid has severely change how that happens but many meetups are virtual.

Bakersfield & Kern County has lots of opportunities to make money if you are patient & learn how to create good deals. Out of state is fraught with danger, I would advise against it.

Indispensable skills for a note investor

1)Know how to use a financial calculator at an advanced level

2) Understand Title

3) Become a life long student of selling & marketing

Books, investors & courses I like

Jimmy Napier : Invest in Debt

John Behle (not in print must buy used if you can find his course)

Gary Johnston ( I learned financial calc. from his courses)

Martin Saenz (Several books on notes)

Dave Van Horn

Henry Dvorken

Effective marketing has the highest ROI. Therefore, I would spend as much as 50% on my existing proven marketing campaigns and expand into other markets. The rest would be allocated on operating capital, reserves, and seed money for solo & joint venture acquisitions.

Not enough info.  Is there any current financing on the property? If so, what is the balance & terms? Why are they selling? What plans do the have for the money? Any other concerns or needs? etc.  Then you can design a solution that may include seller financing.

Santa Barbara is a challenging area because of the price point.  To do anything creative you may need to find sellers in a situation where they are willing to carry or are motivated because the property is difficult to sell in the current condition or situation. To do something with your father in law, you would have to determine how he would benefit by using his current properties.  He may have depreciated out and may benefit by exchanging to another.

Research more about ways smart investors approach the "due on sale clause".

Use a mutually agreed upon 3rd party servicer.

Buy property subject to current mortgage. Keep as much cash as you can for reserves, & rehab. Ask selling to carry remaining equity with a 2nd TD or wrap (AITD)