All Forum Posts by: Allen Maris

Hi, I used them to get my license in CA. I found it a bit boring, but it gave me the requirements to be able to submit my application. I then did a crash course through

http://www.realestatecentre.biz/

While that last one wasn't great either, didn't cover everything on the test, I still passed.

Good luck!

Hi Greg,

I've mainly been using to buy as the MLS market is too crazy. I do use it to market for sale too but I haven't been focusing on that side of things much.

Good luck on the sale, but you'll probably do fine with as busy as things are.

Best,

Allen

I've never been able to get this kind of info. And I'm not sure if I'd ever really believe it either!

Hi Stephen,

Having learned a lesson on this because my wife twisted my arm, I bought used from an appliance place. It's been non-stop problems and I overpaid because they had a "warranty". Which lasted 90 days.

Doing it again, I'd either find something new and on sale for a reasonable price that will last 5-10 years, or go the other way and find something decent on craigslist that's really cheap that someone needs to get rid of asap. Then you're not overpaying for junk. Like I did. (hanging my head in shame)

On a positive note, the wife has learned her lesson to listen to me about these things!

Hi Greg,

Welcome to the market. I have family in Clovis so I do most of my active investing as close to Clovis as possible.

Feel free to hit me up if you have any questions and I'll do what I can.

What are you planning on doing, flips, buy and holds, wholesale?

Best,

Allen

Thanks, everyone!

@Derek Carroll - I actually ended up being about 1.5 years from the time I purchased to the time of the refi. I started it after 6 months but had to cancel because it was going to jeopardize the new financing on my personal residence so that's when I brought in a partner and we waited things out.

@Mark Ferguson Thanks, appreciate that.

@Jerry W. Thanks, always looking for the next one!

Not my first deal, but the first success I'm posting on here. I would love to say I've got all home runs, but you can win a game with singles and doubles.

The quick stats.

Purchased via auction.com for 86,000 with a partner.

Renovated, all cosmetic, paint, carpet, tile, some appliances, etc, etc. Spent $16k total and was on the market in 6 weeks.

Rented for $1250

Expenses are, $100 management, $85 insurance, $110 taxes. The rest is going into a savings account to for future repairs and vacancies and we take a disbursement as wanted.

We did a cash out refi a few months ago. Was appraised at 140k so we took $105k out and repaid ourselves. So all in all, we're whole, putting away a few hundred a month positive cash flow with none of our own money invested.

This approach isn't making me rich each month, but in 20 years, if I decide to keep, it'll be paid off and throwing off whatever the rents may be at that time.

Sure, making 100k in a flip is great (and looking forward to that deal) but a few more like these and life becomes easy.

I saw the benefit of having 50% ownership with finding the deal and dealing with the rehab and the partner made their 50% by letting me use their money for a year. They made about a 60% return on their money instead of the .02% they were getting in their savings account. Win/win all around.

Good luck everyone, real estate is a great vehicle to set yourself up for a great life. Take advantage of that!

Trump's best real estate advice he ever received.