All Forum Posts by: Andy Cross

Hello everyone,

No offense to Realtors on BP, but I've got to ask this question of my investors in California.

In CA, the California Association of Realtors Purchase Agreement has a "no assignability" clause in the contract that eliminates investors from assigning/wholesaling deals to cash buyers. Not sure why this is there (nor do I care). 

If I can somehow get around this clause, I can start making money and my Realtor friends money as well. I know you all aren't lawyers, but are there any investors in CA that know how to get around this clause? 

Thanks Folks! Andy

I used craigslist to build my buyer list. I didn't do anything extravagant, and I didn't make a whole bunch of claims. And I still got hits to my website. 

Wow...cash offer alone would be 70% of your ARV, minus repairs. Not to mention all of the liens.....make no offers on this one. There's no money to be made.

I'm just a newbie...but this is what I was taught.  

You can run a skip trace on the name and/or address. I use peoplefinders.com. 

Might I also suggest...stick close to BiggerPockets.com about any subject in RE Investing. DO NOT...and I repeat...DO NOT spend money on guru courses, mentorship programs, and crappy web software when you have just about everything you need here. I learned the hard way...and wasted a whole lot of money and compromised my own personal credit. Also, try to find the largest REIA in your area and network. You might just find that mentor you need.......FOR FREE.

@Joeny Ortiz In order for the bank to talk to you, your seller will need to provide the bank with an authorization to release information to you. Otherwise, the bank will not talk to you at all. Make sense? 

Yuki Battan you can do one of two things. If you can obtain the parcel number in the property, you can run a title service at your local county records office for the owner address. Or you can run a skip trace on the property address. I've used peoplefinders.com for one property I found. It's been a while, so I'm not sure if the site has changed or not.

Hello BP Fam!

I'm prospecting a property here in CA, and it looks like it's about to go to sale in about 8 days. The owners have about $290K in equity in the home...however, has it listed on the MLS at the top of the market (needs repairs...hmmm....wonder why it hasn't sold?).

I have always been taught cash offers: 70% of ARV minus repairs. If the seller accepts the offer from this math, they would only get about $45K at closing. $245K loss in equity.

I get it...the homewoner could get nothing at all if they are foreclosed. But, in my heart of hearts...this just seems wrong. And I also get that we're in this business to make money.

Of you experienced investors, do you ever feel this way when making offers? Is this something I have to start getting over if I'm going to be successful in this biz?

Thanks!

- Newbie Investor, Andy 

I definitely say envelope, and the brighter the envelope the better. Yes definitely consider yellowletters.com.

Originally posted by @Account Closed:

Good luck, Andy. If you want more information on marketing, check out @Sharon Vornholt, @Chris Feltus and @Danny Johnson.

 Thanks so much, Account Closed I will check them out ASAP!