All Forum Posts by: Vanessa Benavidez

@Zach Rucker I do not have the money to buy it. The property needs about 25k in repairs

@Allen Maris yes this is a house I do not have the ability to buy it with cash or a loan

So I got a property under contract in Santa Barbara county California. Total noob post but I kind of don't know what to do next do I open escrow or first find a partner. I'd love to brrrr it or flip it because I love this process. On the flip side it can be a wholesale deal to get me going. What would you do?

Hey everyone! Im new but I think I just got a deal I am looking for someone who is familiar with new construction development syndication things like that. I just got An offer accepted for a lot At 890K The lot is 5500 ft² and is zoned LAR3. From what I understand in this zoning the city allows you to build units that are at least 800 ft² and you could build-up to 3 stories or 36ft. Considering the parking space requirements I think that I can fit 10 to 12 units on to this parcel maybe more. This is in the South part of Los Angeles California So most likely will attract lower income tenets. The cost to build something sensible here would be about 1.2 million which maybe a little high but that's what I used to analyze this deal, let me know what you think? There are no comps in the area for this large of a property but new construction duplexes are going for low 2millions. I ran numbers on other properties in LA and I believe I ARV will be in the mid 3million. Here is where I'm at now, the seller accepted my offer over the phone. I don't have contracts to email to them, no capital, or the greatest credit score. I don't quite know what to do next but I trust that I know enough to at least get started, and can find the right people. I do know a building contractor that would probably do the job and has experience and a few other investors. I'm reaching out to bigger pockets looking for somebody on here or in the Los Angeles area who is familiar with these types of projects, if this is something you're interested in please contact me maybe we can partner or any advice would go a long way Thanks!

Hi, @Jelani Fearon hope this is helpful

Genesis Program, otherwise known as Grant America offers down payment assistance to low and middle income home buyers including those with an FHA loan or pre-approval for an FHA home loan. Grant America offers up to $34,000 in down payment assistance for new or resale homes.

@Efrain Diaz I had almost the same experience after putting countless bandit signs I had the city calling threatening to fine me a good buyers list and a couple of dead leads. I've also decided that this strategies wasnt right for my market and since then have experimented with other things as far as marketing goes.

@David Sisson

Thank you. One wants to close in the next 30 days max. The other wants to stay I have offered to close on 1st with my initial offer. I was thinking the same thing that they would be hard to get rid of and would have to evict them

What's up BP, so I've been working a lead where the homeowners are divorcing and one wants to stay in the property until the new year. The other wants to be done as quickly as possible. I'm having a hard time trying to get them to decide on a closing date that's fair for everyone they just wont do it. Now I had one call me and ask to if we could close and somehow let the other stay in the house for the time that they needed. What do you think about possibly closing and renting back to the other spouse? Also wondering how it would work or be structured would you with hold some money after closing? I initially planned on using a hard money loan to fund the deal. This is in california if that matters.

This month I have been doing direct mail to pre forclosure leads. I have found that the call that I receive the owner is very against the idea of selling/ "losing" thier home. Had anyone ran into similar situations? If so how did you negotiate with these individuals and what is the best way that I can help these people or are these just dead leads?

@Aaron K. I understand it's a tough market. My goal with this post is to generate leads that I can then analyze get a feel for prices and different neighborhoods. I have been using redfin and other similar websites as well as sending direct mail but i would really like to meet people who are active in the area. I will then make offers on properties I feel comfortable purchasing for a flip or rental.