All Forum Posts by: Joe Bertolino

With smaller amounts (usually like $50K) I have seen guys have some success as a gap lender.  Usually in second position for a flipper that is running over budget but the returns are usually a flat 10% in 60-90 days in my area. ex.  $50K paying back $55K in 60-90 days.   

Both of your goals can be accomplished fairly easily along the highway 50 corridor.  Shingle Springs is great and Rancho Cordova has a lot of upside for lower end rentals.   

Pay the month and be thrilled they are willing to leave.  

1. It is a people business.   You need to focus on people and not on the transactions or outcomes early and later in your career.   Focus on the activities (connecting with people you know and adding to your circle) and everything else will fall into place.  Build an accurate database and follow up systems to manage those relationships.  

Tax records, spokeo/beenverified, Property Radar, Batchleads, etc.   

 That is my thought.  You were his best offer and he double ended it while representing the seller in his capacity as a fiduciary.  If you sold $20-30K below other offers he and his broker would be dealing with SAR ethics complaints.  Agents will strait up send that info to the seller directly AFTER the deal closes.   "He Mr. X... we offered $25K over your final sales price... just thought you should know".  I do everything I can do avoid dual representation.  I will refer them to somebody and get a referral fee but I hate representing both sides. The money doesn't matter as they trying to squeeze your commission anyway.   As Ben suggested... doing stuff like that will give you a dirty rep with other agents that ends up hurting his clients.  

Ben Aguilar 530-409-6032

He is a licensed electrician and good general handyman.  Trustworthy and doesn't need micromanaging.  

Take my advice with a grain of salt as I am an agent... but your stance of only wanting to buy direct (when you have not done so before) is going to really limit you.  For every one response you get to direct mail agents are hearing of a dozen off market deals... and we are mailing, texting, calling and door knocking all day long because that is our job.  Guys with large portfolios work with multiple agents... not try to work around them.  The major flippers in Sacramento that do 30-100 flips work through agents,  not around them.  The buy and hold investors work with many agents to buy and one or two to sell.  

My advice is to use a permit expediter and ask them which design firms and GC's they like working with.  I use All Access Permits,  Laura Kass.   They can basically tell you what can and can't be done and make sure everything is in order before submitting.   Because they know what they are doing the city and county more or less just stamp what they bring.  In my experience its much easier than watching your architect or draftsman and GC blame each other for mistakes while the clock is ticking on.  It is worth the $300-500 on a small project like this to avoid missteps and headaches.   

Assuming you have an entry clause...  24 hour notice during normal business hours and I will be there with a locksmith.  That usually gets cooperation.  You have the right to to show the unit to mortgagees.  You cannot push your way in just to inspect but you can 

1. To conduct necessary or agreed upon repairs;
2. To show the unit to mortgagees;
3. To show the unit to workers or contractors;
4. To show the unit to prospective tenants or purchasers; or
5. For a pre-move out walk-through to evaluate damage at the tenant’s request. Cal. Civ. Code § 1954.