hello my name is arnel, I'm new in real estate investing and I'm doing wholesaling in my city, I'm looking for buyers in my city.

If it closes UP today in California time, rates might be UP tomorrow (45-60% of the time), and you've got an hour or two from when Wall St closes to lock your rate if doing business with a Best Coast mortgage lender whose lock desk isn't going to close for a few hours (assuming the LO takes your call at 5:15 pm...) from when Wall Street closes on the East Coast.

I hope to hear from some folks as I am so nervous to do this especially in a new city.

I closed on my first home last year in November, it's a tri-story town home in Eastlake, CA.

Or just don't buy any multi families over 15 units in California?

the numbers are as follows:purchase price: $ 25,000rehab costs:      $   5000closing costs     $   3000ARV                   $ 60,000 ( professional appraisal)projected profit              $32,000I have purchased several houses in this city and currently own 2 right in this neighborhood, in fact, one right on this same street. the code enforcement officer in this city and i are literally on a first name basis and he has never, ever set foot inside any of my rehab projects because, in his words, " i trust your work". i feel greatly confident in my knowledge of this neighborhood and its ability to sell quickly. 

We have had some flips in the city before! 

Bloomington CA. - Probate deal, it came from a relationship with a Realtor.3/2 1250Closed Sept 28 2015 Rehab completed 11/3In Escrow 2/1/16Purchase 174kOriginal rehab budget 30KFinal Rehab cost 45k - the decision to increase the budget was critical to remove the Quirkiness of the home.

Here is our 2nd Rehab flip as Rykir Enterpsises LLC. 541 Clifford ave Rialto CA. - Probate deal, it came from a relationship with a Realtor.Purchase Closed October 31- 2015 Purchase 200kOriginal rehab budget 30KFinal Rehab cost 33k - This home was as cosmetic a rehab you can get.

I live in Saratoga, California and bought my first SFR in my hometown of West Des Moines, Iowa.