All Forum Posts by: Armen Zakarian

Does anyone have any insight on how 401k and/or an IRA can be used to purchase property? Pros/Cons? Any way to avoiding early withdrawal penalties?

Evan P. Please send them to me in a PM. I would be interested in looking at the numbers for property's that you are wholesaling. Thanks

@Brandon Hicks Thank you for the insight on this.  Direct mail is going to be my next move in regards to attaining properties.  I think I am going to target locations within my area which show a high foreclosure rate as I have an app which allows me to see foreclosures and property details within a desired area.

@Michael Mullins thank you for this info.  I am going to try this approach and see how well it works for me.

Ok, so I have been looking endlessly on the MLS for properties to fix and flip and I have come across a few good ones but by the time I pull the trigger on them its a bit to late. Can anyone provide some advice on whats the best way to come across off market deals? I feel like there is a lot of competition on the MLS and since I don't not have the capital myself for the property I lose on the opportunity to close on them.

Welcome to the BP community!  There is a great deal of learning and networking you can get from here!     Its also great to see another Anaheim member here!

Happy Learnings!

Armen 

Jasmine Batt check meetup.com for all REIA's near you.

@Ellis San Jose

Here are my numbers...

Ellis San Jose I have considered wholesaling the property, but wanted to reach out to see if anyone is interested. Since I have not been able to walk the property, I calculated $35/sf for rehab, bringing the total rehab cost to approximately $70k. Again, this is an approximate until I am able to walk the property with my contractor.

So, I have just come across a property which has great potential for a fix and flip. I have zero capital and therefore I am looking for a lender which can provide 100% LTV and 100% rehab cost. In speaking with some lenders, I am getting the same response... They will not lend as I am new to fix and flips. I am open to both private and hard money lenders. Looking at the numbers this property has a potential for $100K + profit. The current owners are looking for a full cash offer and subject to inspection. They are not allowing anyone to see the property before hand. This doesn't concern me much as the purchase can be contingent upon inspection which can be done during the escrow process. If anyone may be interested in a joint venture please contact me. I am willing to split profit if it is a private lender in addition to paying a percentage on the loan amount.

I have also posted this in the "Private Lending and Conventional Mortgage Advise" forum.  

If anyone is interested please e-mail me and I will gladly share the additional information on this property.

Thanks,

Armen