All Forum Posts by: Archie Robb

Sounds like a great plan. Good luck! 

He's pushing you to accept an offer after 2 days and said offer is 50K below asking? It's hard to give advice without all of the data, the comps, etc. but that sounds like terrible advice. 

I'd let the agent know your feelings so you can attempt to fix it. 

Hey @Eric Johnson, 

I work out of Echo Park. as Alex said above, many "deals" get bid up in East LA as it's very competitive. 

I'm happy to discuss it more via phone or in person. 

@Daniel Giventer

Welcome to BP! 

I have a couple of clients that buy in all the areas you listed to flip. If you have any properties where the numbers work I more than likely have a buyer. 

Use Zillow's agent finder and look at REO or Short Sale agents and read reviews, call them to set up a meeting and go from there.

I'd happily work with you and your business partner but I'm a newer agent so I'd be learning REO and Short sales with you. My broker has been buying properties for ages whether REO, auction, short sale, etc. so you'd have his guidance along with me being the man on the ground.

@Casey Duckett 

Los Angeles is extremely competitive in every aspect of real estate. Wholesaling being no different. Just keep at it and you'll find stuff. Read all about wholesaling on the site and try different things. If you ever have a property that's a good deal you'll wholesale it no problem, the hardest part is finding the deals, the easiest part is finding a buyer if the deal is good.  

Without knowing the actual property I can't really say whether you are worrying too much but why don't you just factor flood insurance into the cost? Pretend it's property taxes so you're prepared for it each year. Keep in mind that flood insurance requires you to pay for the full year upfront so you can't sign up during the raining months and cancel a couple of months into it. 

@JOSH ELIOT

I'm a bit confused but the seller will ordinarily select the title and escrow companies. Perhaps your credit union is suggesting their own because you aren't using a realtor or that's just how they operate but there's no harm in suggesting your own.  

Hi Aaron, 

Eric Maurer at Old Republic Title Company is great. You can google him to find what you need and call/email him if needed.