Newport Beach, CA · Member since 2017 · 29 posts · 8 votes
Hello all, my name is Rob Crossley. I am new to to this forum but excited to begin receiving some great advice from all of it's members. I am a newish part time investor in orange county real estate, currently I have two buy and hold MFH's in the OC but I have always had a real interest in flipping.
I am currently looking for a small project in the area to get my feet wet while I learn more of the Ins and Outs of this side of investing (not asking for deals here) and in the meantime I am also looking to expand my network of real estate contacts in this area or possibly even shadow someone in the area if they would be willing!
I hope to hear from some of you soon, and and all feedback/advice is welcome!
Welcome to BP. There is a location where like minded investors gather in Lake Forest, California every month that you should check out. You will need to PM me for the details, since Biggerpockets will not let me post that information here.
If you would like to chat before then and talk about investing let me know. I am in Mission Viejo and can get together at my local Starbucks. Your ALL in cost is only a cup of coffee.
I am currently flipping homes in Orange County and teach others how to do so as well. I started a wholesaling group and spend my Saturday mornings with them.
I am looking for my next purchase at the court house steps, while I am working on a few more.
Good Investing...
Aliso Viejo, Anaheim, Brea, Buena Park, Costa Mesa, Cypress, Dana Point, Fountain Valley, Fullerton, Garden Grove, Huntington Beach, Irvine, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, La Habra, Lake Forest, La Palma, Los Alamitos, Mission Viejo, Newport Beach, Orange, Placentia, Rancho Santa Margarita, San Clemente, San Juan Capistrano, Santa Ana, Seal Beach, Stanton, Tustin, Villa Park, Westminster, Yorba Linda
Welcome to BP. There is a location where like minded investors gather in Lake Forest, California every month that you should check out. You will need to PM me for the details, since Biggerpockets will not let me post that information here.
If you would like to chat before then and talk about investing let me know. I am in Mission Viejo and can get together at my local Starbucks. Your ALL in cost is only a cup of coffee.
I am currently flipping homes in Orange County and teach others how to do so as well. I started a wholesaling group and spend my Saturday mornings with them.
I am looking for my next purchase at the court house steps, while I am working on a few more.
Good Investing...
Aliso Viejo, Anaheim, Brea, Buena Park, Costa Mesa, Cypress, Dana Point, Fountain Valley, Fullerton, Garden Grove, Huntington Beach, Irvine, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, La Habra, Lake Forest, La Palma, Los Alamitos, Mission Viejo, Newport Beach, Orange, Placentia, Rancho Santa Margarita, San Clemente, San Juan Capistrano, Santa Ana, Seal Beach, Stanton, Tustin, Villa Park, Westminster, Yorba Linda
Flipper/Rehabber · Tustin, CA · Member since 2015 · 433 posts · 103 votes
9y
Hello @Robert Crossley. Welcome to the site. Plenty to absorb here. Feel free to reach out to me or anyone else if you have any questions for us. I currently flip homes in LA and Orange Counties. Good luck!
Newport Beach, CA · Member since 2017 · 29 posts · 8 votes
9y
@Jo-Ann Lapin I guess my biggest areas of concern in CA are centered around flipping. Starting from what are the best areas to look in for value, finding the right properties, drawing comps and specing out accurate renocosts with a reliable GC..etc. So pretty much the fundamentals I'm also curious about the inerworking of just backing flips from the financial side.
@Polar Prutaseranee Thank you for the welcome, I would love to link up some time if not just to expand our network
Investor · Los Angeles, CA · Member since 2015 · 325 posts · 75 votes
9y
Hello @Robert Crossley welcome to BP! Tons of great content here it can be overwhelming. I am a buy and hold investor of out of state multi family. Basically what I do is help and show people how to use some of their savings to create streams of income through the investment of multi-family apartments. You have some units here in CA? Would be great to chat!
You have come to the right place to connect with the wide array of real estate professionals and investors. Make sure to view the Bigger Pockets book store: https://www.biggerpockets.com/store
Newport Beach, CA · Member since 2017 · 29 posts · 8 votes
9y
Albert Bui , great thanks for asking! On the try plex I immediately raised the rates after closing and I only lost one tenant. We lightly rehabbed that unit and quickly rented it for $2200 (the others rent for 1900) the four plex I actually rent all of the units to one client which is a residential treatment facility at a rate that is....let's just say well above average lol
Newport Beach, CA · Member since 2017 · 29 posts · 8 votes
9y
Michael Ramos I'm not changing so much, more looking to expand. I am still pursuing MF's in other areas I just want to diversify a bit into some other immediate income producing areas. Buy and hold on MFs in Orange County are GREAT long term investments imo but I can only expand so much putting 25% down payments on 7 figure properties...I still want to add some more in the future but right now I'd like to see what I can do with greater short term upside as well now that I've established some of my long term plays
Real Estate Agent · Redlands, CA · Member since 2016 · 253 posts · 115 votes
9y
Very cool. I am sorry I see you mentioned that above. I must have skipped over that post. Congrats on the MFR's. Do they cash flow well for you in those areas? What areas are you looking at to flip? If you don't currently own your home, you could look into buying a run down house, living in it and fixing it up slowly to get your feet wet without too much risk. You could then sell it in a year or two. In the meantime you would have gained experience in construction and get a feel for remodeling. We did that with our first house and it worked out great. You would have to bet on the market improving though for the next couple years which may or may not happen. Just a suggestion! Hope to see you at a meet up sometime!
Newport Beach, CA · Member since 2017 · 29 posts · 8 votes
9y
Kiersten Vance , thanks for that. The Costa Mesa property has a semi decent cash flow for the area. The one in HB is well above average because I lease it long term to a residential treatment center for substance abuse, it's something I have a lot of contacts with and demand in.
To the live in suggestion I don't think that's going to work, I own a home on the sand in Newport that I just had remodeled so I don't think I'd like that situation very much lol!
Likewise! I took a quick look at your profile we are the same age and have a lot of the same goals, id love to connect sometime.
Real Estate Agent · Redlands, CA · Member since 2016 · 253 posts · 115 votes
9y
Wow very cool. I would love to talk to you about that sometime. I am working on an Assisted Living Center at the moment so semi similar rental. Would love to talk to you more about the substance abuse house. My friend just opened one in Pasadena. I totally understand not liking the live in suggestion. It was rough but that was our only option! I live in Cypress and would be happy to meet up for coffee or lunch sometime if you would like.