All Forum Posts by: Alan F.
Alan F. has started 16 posts and replied 1183 times.
Post: Contractor and Future Investor
- Flipper/Rehabber
- California
- Posts 1,193
- Votes 1,026
Scale your business, take advantage of any 1st time buyers financing, house hack & mix with value add. A recipe for success.
Post: The economy is not healthy AT ALL
- Flipper/Rehabber
- California
- Posts 1,193
- Votes 1,026
I've seen a few goods down by $100k+ -, but that was only about 6%.....on a 1200 sq ft 3/2 lol.
Post: Did Brandon Turner really lose $14M of investor money while pocketing $4.4M???
- Flipper/Rehabber
- California
- Posts 1,193
- Votes 1,026
Quote from @James Wise:
Quote from @Chris Seveney:
@James Wise that's what I am curious about - how many single family deals did he do in his career?
curious if he was riding coat tails of podcast like many do.
if I was an investor and lost $ on a deal nothing infuriates me more than seeing Facebook ads promoting training courses - shouldn't focus be on trying to pay back your investors (of course if you already milked the deal upfront and get paid then many will let investors lose their money.)
Regardless of what did, or did not, actually happen with Turner's company. Regardless of the accuracy of the accusations of that article. If an investor sees that any sponsor is getting paid $4.4M up front, they've got to assume the absolute minimum amount of scrutiny went into the underwriting on the deal. That's just common sense.
True Dat, but common sense ain't always common.
Post: Look for investor friendly contractors
- Flipper/Rehabber
- California
- Posts 1,193
- Votes 1,026
A contractor is a business owner, they should protect their margins like any operator protects their margins.
Post: Did Brandon Turner really lose $14M of investor money while pocketing $4.4M???
- Flipper/Rehabber
- California
- Posts 1,193
- Votes 1,026
There's been several threads, here on the forum, about ODC.
Post: Contractor doing first flip
- Flipper/Rehabber
- California
- Posts 1,193
- Votes 1,026
Quote from @Jared Bennett:
Hello Im looking for a distressed property to flip. I live in pollock pines so anything east of downtown Sacramento is an option. My first purchase would probably be 250-400k before repairs. Any wholesalers or suggestions on ways to find my first deal would be appreciated.
Some suggestions on Acquisitions; let people know, within your network, that your looking for distressed properties.
Go to meetups in Sacramento & sign up with wholesalers to get on their "drip lists"
Contact REA's & get on their lists. Sometimes younger low volume agents re more open to sharing pocket listings.
Leverage the internet to contact as many wholesalers as possible.
You may even want to advertise for Acquisitions, depending on your business plan.
Don't feel pressured to buy...vet all "deals" & operators carefully & trust your own underwriting.
Your B1 license could be very beneficial for structural value add prospects. Look up Assembly bill 968 & become well versed on it's benefits/drawbacks.
Throughly understand El Dorado counties TIM fee (formerly known as TIF fee) & how it impacts your underwriting.
For dispositions keep in mind your buyers pool will be affected by fire insurance the further up the western slope the house sits.
Have a well formulated exit strategy in case the dispo is slow, which may tie up capital for a while.
Don't overleverage as transactional volume is a bit low currently.
Post: BiggerPockets Crooks, Scammers, Deviants, Fake Identities & Con Artists
- Flipper/Rehabber
- California
- Posts 1,193
- Votes 1,026
Quote from @Dan H.:
I think the warning is very appropriate. It seems there is more lender fraud currently than ever before (maybe it is just more publicized than it used to be). Did anyone else notice how many lenders were at BPCon2025? It reminds me of the Ohio realtor mafia in the forums (OP excluded as he pokes as much fun at the Ohio realtor posse as anyone).
I do not place bob Stevens with the others even though I did not aggree with his posts because 1) I knew he had 2 different names online for quite a while. I was unsure if he had a name change, wanted some anonymity, or had some other reason. It did not bother me. Note I use Dan H rather than my full name for some poor anonymity. Anyone can find my full name via my profile and maybe 5 or 10 minutes search (just trace the LLC would do it). 2) I suspect Bob believes the dribble he posted (except possibly exaggerating his purchases) 3) to the best of my knowledge he was never charged with anything.
I do feel using an initial rather than a fake last name seems more ethical, but the reality is they serve the same purpose.
Im guessing transactional volume is pretty low for lenders these days, the REA's I know are really slow right now....they seem to be getting rather apathetic too.
Yeah, Bob was kinda funny sometimes "20 caps sitting on the beach" James called them "Bobisms" lol
Post: BiggerPockets Crooks, Scammers, Deviants, Fake Identities & Con Artists
- Flipper/Rehabber
- California
- Posts 1,193
- Votes 1,026
Quote from @Jay Hinrichs:
Quote from @Lesley Resnick:
Hey Everybody,
I have a some info that has not been announced yet. The state of Florida is going to buid an international airport near the detention center in south Florida. I have a small group of investors I am working with that are buying several hundred acres of land around it. The land will 100x in value once the airport opens.
We have one more share left and if you Zelle me 10k before midnight tonight I may be able to get you in.
Greed makes smart people ask stupidly. It is really easy to get caught up in a deal that is to good to be true.
they were selling that dream in the high desert of CA north of LA 75 years ago.
California City? We'll be there in November!
Post: Crazy how many realtors are unresponsive
- Flipper/Rehabber
- California
- Posts 1,193
- Votes 1,026
Post: Crazy how many realtors are unresponsive
- Flipper/Rehabber
- California
- Posts 1,193
- Votes 1,026
UBER drivers are unionizing here, maybe they'll never go back as REA's lol