Real Estate Investor · Benicia, CA · Member since 2015 · 11 posts · 1 vote
Hi, my name is Elaine Kowalski. I am an investor from the Bay Area, California. Together with my friend, also named Elaine (Bonini), we own E2 Property Ventures, LLC. We are investors, flippers, wholesalers, and would like to be buying and holding by the end of this year.
Escrow Officer · Temecula, Ca. · Member since 2016 · 418 posts · 152 votes
10y
Welcome!! I am an investor friendly escrow officer and I have a nice network of investors I work with statewide and I can close the escrows statewide, as well.
Real Estate Investor · Benicia, CA · Member since 2015 · 11 posts · 1 vote
10y
Thanks Dylan. Yes, we will venture outside the Bay Area. We just did a deal in Citrus Heights, which is 90 min from our base. This, of course, depends on the deal. We are based in Benicia, so if we are going to flip a house, we are most comfortable if it is within an hour or so from there. I think at this point, anything beyond that would have to be something we could wholesale. I see you are from Chico. I hear that's a great place for investing. I fear it may be a little too far for our comfort, but as I said, it would depend on the deal.
Real Estate Investor · Benicia, CA · Member since 2015 · 11 posts · 1 vote
10y
Thanks Naveed. I see that you are close by and that you might be open to a JV. My partner and I are always on the lookout for properties and potential JV partners. If you find a property, keep us in mind and we will do the same. Let us know if you want to arrange a meeting. If you've got the time, we'll buy you cup of coffee.
Real Estate Professional · Campbell, CA · Member since 2015 · 60 posts · 17 votes
10y
@Elaine Kowalski welcome. I am an investor friendly agent in the South Bay. If you should need anything around this area please feel free to reach out. I can help!
Toronto ON, Canada · Member since 2016 · 96 posts · 26 votes
10y
Hi @Elaine Kowalski welcome to BP. Congratulations on your deal in Citrus Heights CA. I used to live in Folsom CA back in the day and have some knowledge about the surrounding areas. I haven't done any deals yet but I am interested in potential deals with-in a 2 hr drive of Bay Area (which is where I live now). Sacramento and surrounding areas are also on my radar in addition to Merced CA.
Architect · Raleigh-Durham, NC · Member since 2016 · 76 posts · 47 votes
10y
Welcome @Elaine Kowalski ! My partner and I are always looking for good JV partners in the area. Glad you spoke up about that. Let's grab some coffee to see if there are future opportunities for us. Enjoy BP!
Real Estate Investor · Benicia, CA · Member since 2015 · 11 posts · 1 vote
10y
Erick, I have you in my contacts and will let you know if we get anything out that way, and... If you ever have a problem house that you need to sell...
Also, I'll be in Campbell in a couple of weeks for my son's Volleyball tournament (he's got sports tournaments in Campbell a couple of times a year), so we get to spend the day in your cool little town. We enjoy it every time. It's a great area.
Real Estate Investor · Benicia, CA · Member since 2015 · 11 posts · 1 vote
10y
Thanks Vamshi and Derek,
The Citrus Heights deal went really well after we found the right Escrow company. It was a wholesale deal. Seller was on board, my partner found a buyer within an hour, everyone was ready to go... Except the escrow company. They came back a week after opening escrow and told us they don't do assignments of contracts anymore. Very frustrating. Once we got it moved to the right escrow company, we were done in a week. Lesson learned.
Escrow Officer · Temecula, Ca. · Member since 2016 · 418 posts · 152 votes
10y
Welcome!! I am an investor friendly escrow officer and I have a nice network of investors I work with statewide and I can close the escrows statewide, as well.
Lender · Sherman Oaks, CA · Member since 2014 · 68 posts · 80 votes
10y
There are programs offering up to 90% on flips. On the other hand, for your non flips if you can commit to a 3 year hold you can get rates in the 7.99% range. Lots of options these days!
Real Estate Investor · Benicia, CA · Member since 2015 · 11 posts · 1 vote
10y
Thanks Shannon and Chris. Shannon, after our escrow crisis on the Citrus Heights property, you may be hearing from us. Chris, I've got you down too. When I've got some time to shop loans again, I'll be in touch.
Right now, the Bay Area is still hot. We are currently flipping a house in Vallejo, which is a lower end area, and our comps have increased almost $30,000 since we purchased it less than 2 months ago. We're about to put it on the market and we're anticipating multiple offers and feel confident it will sell fast.
Honolulu, HI · Member since 2016 · 115 posts · 15 votes
10y
@Elaine Kowalski Thanks for the speedy reply (: Could tell me he details on the challenges you had to go through with this property? Also what is your best guess on how much longer you will have to hold the property before its sold?
Real Estate Investor · Benicia, CA · Member since 2015 · 11 posts · 1 vote
10y
@Vick
@Vick Galu So far, the rehab itself has gone pretty smoothly. We should be done by Friday, so hopefully our luck will hold. As with our deal in Citrus Heights, our biggest troubles on this deal were with the escrow company. There isn't really any one incident that I can point to. It was just an ongoing series of frustrating delays that had nothing to do with the process and everything to do with the company. They were impossible to get in touch with. The person who began the process for us went on vacation part way through without a word to us and without passing our info on to anyone in the office. They didn't address the fact that there was a deceased person on the title and a trust involved until a couple of days before we were supposed to close, even though they knew a day or so after escrow opened (and we had a 30 day escrow). Just felt like amateur hour with them.
As for how much longer we will have to hold the property... We will be pricing it competitively, so our realtor feels we will have multiple offers in the first week. If all goes well, we're hoping for 7 days on the market, a quick escrow, and on to the next deal.