From Twin Cities. In San Diego for School/Investing

Hey my name is Nick Gunderson. I'm from MN but came out to CA for school and to get serious about investing. I'm majoring in accounting and plan to become a CPA, I also want to work towards a brokers license.

I'm relatively new to the investing game, I've read a number of books and been to a few seminars but haven't invested yet.

I'm looking to partner up with a more experienced investor for mutual benefit. Although I don't have money, credit, or much knowledge I do have motivation, drive, and, most importantly, time. I'm 23 with few obligations.

So if you'd be interested in mentoring I'd be more than interested in bird dogging and eventually wholesaling/assigning.

Anyway, I'm excited to be apart of this forum and to take my investing and learning to the next level.

Nick

Edited: 06/26/2010 at 07:53AM

Greg Boots

Real Estate Attorney · Seattle, Washington

75 posts
74 Influence
1 Award

Icon_minipost Apr 12 '09, 01:58 AM

Nick,

Welcome to bigger pockets. There is excellent information here to help you take your knowledge to the next level. You may also want to look into some local investing clubs. There are always opportunities for people who are willing to learn and work hard.

To you success.

Edited: 06/26/2010 at 07:54AM

Tom Tarrant

Real Estate Investor · San Diego, California

61 posts
213 Influence
2 Awards

Icon_minipost Apr 12 '09, 07:32 AM

As Greg said, the local clubs are a great resource. san Diego has one of the nations best creative real estate investing clubs that meets monthly. Its called SDCIA, check out their website, the forum there is also a must read.

Edited: 06/26/2010 at 07:54AM

Joshua Dorkin

BiggerPockets Founder · Denver, Colorado

10630 posts
46531 Influence
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Icon_minipost Apr 12 '09, 07:35 AM

Welcome to BiggerPockets, Nick. Now that you've read the books and attended the seminars, tell us what you have yet to learn. What is it that is holding you back from getting started?

Do you have a plan of attack to start investing?

Edited: 06/26/2010 at 07:54AM

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Nick Gunderson

Real Estate Investor · San Diego, California

11 posts
1 Award

Icon_minipost Apr 12 '09, 09:24 AM

Greg, Tom, and Josh
Thanks for your responses and encouragement. I've only been a part of this site for a few days now and already it puts all the seminars and books to shame.

Tom, I will definitely check out SDCIA, I just wish clubs would meet weekly instead of monthly. I was also going to look into the San Diego chamber of commerce.

The thing holding me back the most would be my lack of money and credit. I have read up on wholesaling/assignment deals but wouldn't I sill need a proof of funds letter for anyone to take my offer seriously?

If I could find a way around that I'd start there, otherwise bird dogging seems to be my only alternative.

Edited: 06/26/2010 at 07:54AM

Corey Demuth

Real Estate Investor · Queens, New York

356 posts
1450 Influence
2 Awards

Icon_minipost Apr 12 '09, 09:44 AM

I am pretty new myself but I have never heard of needing a proof of funds letter for wholesaling. If they aren't taking you seriously you could give them 100 bucks as earnest money (I believe it's called a consideration). But I think you will find that if you start talking to people, and you know what you're talking about, the bigger issue will be negotiating the numbers not how you come up with your funds. Someone in preforeclosure is not thinking about your problems he is thinking about his own problems.

If, on the other hand, you are talking about bank-owned properties, I would advise you that a lot of people have advised me to avoid those. They can take months to close and don't negotiate as easily since they tend to have investors knocking at their door with cash offers in hand. In those cases you would probably need a proof of funds, pre-approval for any lending, and a pretty good offer.

Edited: 06/26/2010 at 07:54AM

Nick Gunderson

Real Estate Investor · San Diego, California

11 posts
1 Award

Icon_minipost Apr 12 '09, 10:31 AM

Really, that's awesome. In that case my next move will be to make sure I know what I'm talking about when I make my offers. Thanks for clarifying that.

Edited: 06/26/2010 at 07:54AM