All Forum Posts by: Bill Larsen

@Zaid R.

 Auction.com trustee sales tend to go higher than the pomona auctions.  We hit Pomona everyday and go to most of the auction.com auctions as well.   We buy 90% of our properties at Pomona. 

Understanding the title of the property is important and you can lose a lot of money if you're not careful, but it's pretty easy to be careful 

I am yet to buy a deal from New Western, but I have met with them in their office in Orange, CA.  I really like them and how they do business.  I deal with so many wholesalers that will market a property they don't really have, but form what I've seen New Western is very straight forward when it comes to being able to sell the deals they market.

However, I NEVER trust anyone else's ARV or Rehab #. I'm yet to come across a wholesaler who I think has accurate ARV or rehab numbers, but I don't fault them for trying. It's on the buyer to know what you're buying

Ha, i've been looking into Birmingham to pick up rentals myself and have been analyzing 2 properties in almost the same 2 areas!  However, the prices I was seeing were a little lower.

@Spencer Sutton everything you said is why I'm yet to purchase a rental. I'm a fix and flip investor in CA so I can't get myself to pay retail (or even a little higher) for a 'turnkey' property. But then I'm too far away to really analyze deals from wholesalers, or make educated offers off the MLS. I'm starting to think I need to pick a market and just take a couple long weekends out there.

I'd be very interested in reading your ebook, when do you expect to finish it? 

San Bernardino Rialto area is great for finding distressed properties 

I'd say it's a little high, but not terrible.  I have 3 GC's we work with in LA County that I could refer you if you'd like another quote

@Bill Bruno

Hey Bill!  I'm a Bill as well.  I've been buying in the Long Beach area... We've found it to be a very strong rental market and we try to stay out of rent control areas.  I'd be happy to share our strategy with you if that would be helpful to you at all

@Jeff Hink

 Hi Jeff, just curious, why go to Birmingham for buy and holds?  I've heard such good things about Memphis for that strategy.  

Finding the deals is the hard part..  That and evictions, it seems like former owners are getting better at fighting us.  We're having no problem selling the properties on the back end at the moment.  

We get a majority of our deals from the courthouse steps, then a few others from MLS and wholesalers.

hey Jalonni... I flip in LA and IE and work with 2 different general contractors that I really trust. PM me and I'll send you more info 

hey Joshua! I was actually in pasadena today looking at a deal! I Would reccomend having 2-3 solid buyers lined up so that once you get an offer accepted, you can immediately pass it on to your buyer (for a fee of course) and have THEM send in the emd. You usually have 2-3 days to send it in and that shouldn't be an issue for serious flippers 

Bill

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