All Forum Posts by: Mark M.

yes sir, 3!

Qiuncy,

I am starting a wholesale business here in Modesto, CA (central valley). Pm if you are interested in Stanislaus and San Joaquin counties. Tracy, CA might be a good fit for you considering the majority of residents commute to the bay and prop values have declined substatially --->( + cashflow) .

Sorry Mr. Wieneke, cash flow in Califronia is not a myth. However, If and only if you go to the arm pit of California i.e. central valley!

got it! haha

Thanks for your reply Scott! Sorry for the confusion.

A "straight real estate option" is defined as the right to buy a property for a specified price (strike price) during a specified period of time. For instance, owner of a property X sells me an option to buy it on or before a future date at a predetermined price. I pay the homeowner a premium or "option consideration". I may either exercise the option by buying the property or sell the option to someone else to exercise (or sell). This can be done to obtain control over a property without much cash just like using an assignment or double escrow.

When wholesaling, wouldnt a real estate option be more effective than a double closing or an assignment? Please any insight would help!

Recently, I have been shopping around for a loan on an investment property. After speaking with multiple lenders I decided to go ahead with a small regional bank that offered a better interest rate (far better 6.25%). However, the loan officer has lacked professionalism and is very untimley when sending my pre qualification letter. Now, after great self restraint I have only voiced my disgust and have not flipped the F#@& out yet. My question, should I get in touch with the VP at the bank and try and side step this loser, or just move on?

I have been buying ENS -Enersystems. The company is a world leader in the industrial batteries business. also, they have been buying up competition while maintining a strong balance sheet i.e. low debt. This stock is priced at $10 per share I predict $52 in 5 years. later......... :idea:

By the way... Mr. Investor and Nick

Both of you should sell investment books!

Keep in touch with yourselves!

My 50k is investment money, it is not my life savings by any means. Also, I have zero debt with my home and student loans paid off ( FYI ).

I am interested in rentals ranging from $30,000 to $40,000. These properties are located in small farming communities. I have chose to target these areas in order to avoid high crime- war zones. although, drug problems do exist, the local law enforcement seem to be watching closely. Furthermore, the lots are large and the planning commisions in such towns are sometimes easier to deal with when trying to rezone to r2.

In terms of educating myself. I feel that alot of books on real estate investing are a load of crap. They seem to be just selling "hope" i.e. Robert Kyosaki. Managing your personal finances is common sense, live under your means ( buy what you need, not what you want). The best education is through frist hand experience.

Therefore, I am choosing to start with a small investment property for the experience. I was considering wholesaling but it just seems like BS without the wholseaer being able to cash out the motivated seller personally.

Thank you for your previous responses.... :wink:

Our problem in California is not the stoners, annoying as they may be. We have a much greater problem, "tweakers", meth smoking, strung out, scatter brained thieves who will dismantle a vacant property for $55 in wire.

I say pass growing marijuana. Earmark the tax revenue for public schools, police and fire departments. What the hell am I talking about... Sacramento, would just incraese state congresional salaries ten fold! This state is a trip bro.... :wink: