All Forum Posts by: Karen Margrave

For one, try to relax. Make sure you KNOW the housing laws regarding discrimination. KNOW everything with Brokers Trust Accounts and time frames for handling trust funds, etc. If you go onto the DRE website, you can get a breakdown of the percentage of questions for each category. I'm sure the guys on here that recently took the exam can help you the most. Good luck!

Welcome Brittany! This is a great site for you to jump into. Take some time and read up on different things. We are in Orange County California, and are licensed brokers/contractors. Riverside has so many opportunities still available, you should have an easy time finding something. Good luck. If you ever have questions ... JUST ASK!!

The real problem that will affect the real estate and other industries, is the "debt". These young people don't understand, because nobody has ever really considered the long term consequences, that this debt is considered when they go apply for a housing loan, car loan, etc. Even with payments being current, the amount of the debt will affect their credit scores and ability to obtain financing.

Personally I would like to see one of the presidential candidates propose some bold new ideas for education, to lessen the financial burden on students. Such as, only transferrable classes or vocational classes being taught at community colleges (in California community colleges have so much competition for classes that it can take 3 years to get through what should be a 2 year program) , require only classes necessary for a specific degree and less general education. Don't allow professors/instructors to write and sell their books for their classes, as it's great for the instructors, but very expensive for students. Switch all books to ebooks, etc. There's so many things that could lessen the burden on students. Our educational system in America is out of control.

That's why we are importing people from other countries to work as engineers, etc., not because we don't have enough intelligent people in America!

and so concludes my rant for the day! Sorry :)

I have to question the 50/50 split, what's that about? I think you'd be better off controlling the deal by buying the lots yourself if you're comfortable with the area, and hiring your own contractor. However; before getting into contract, talk to a few other contractors and get an estimate on what they think the cost to build will be. Regarding "green" that's a very open ended term. What exactly do you think "green" is? Is it blown in insulation, low e windows, energy efficient heating/air and appliances, tankless water heater, etc.? Know what you're paying for, and don't get charged more just because somebody tells you it's green construction.

Whatever you do... CHECK REFERENCES, LICENSES, BONDS, INSURANCE. You or your bank control the funding. Have a system for releasing money in increments based on work done on the job.

There are a lot of licensed/bonded contractors that are doing smaller jobs right now, so don't sell yourself short. Why go with unlicensed contractors when you can find someone that has experience and is licensed for probably close to the same price?

RED FLAG!! Don't buy it, you'll be getting calls 24/7, and not be able to do anything to correct them. HIGH MAINTENANCE SITUATION!!

Jon, a few weeks ago we tied up a lot in Lake Forest, CA, and put it in escrow (it's the ONLY lot available for sale) We drew up some preliminary plans, made up a brochure and put up a "take one" box, not even a sign, just to guage interest. We're now in contract to build a new house! REO's around here are for the most part all gone. Good deals are snapped up fast. Orange County CA is one of the most affluent in the country, and unemployment here is around 7%, with high median incomes, great educational system and every conceivable entertainment available, making it popular for investors, etc.

We will be building more spec buildings, from SFR to Office buildings in well located areas, should anyone be interested!

Welcome to Biggerpockets. We are in Orange County, CA. What specifically are you looking for? Do you want L.A. or anywhere in Southern California, etc.? We are brokers/contractors

Since we're discussing "influence", upon starting the new group for Orange County, CA Real Estate, I wanted to "invite friends", however; when clicking on that link both on the group site, and on the home page of BP (to invite friends to BP) I keep getting an error message. Also, I have a link on my website for Bigger Pockets.

I don't think there's any accurate way to guage the "influence" any one member has, because there's no one way to spread the word about the site. The fact that some of have been on longer than others, or make more posts, doesn't necessarily mean they are more knowledgable, about any given topic, only that they found BP sooner, and have been posting longer. Someone much more experienced could join today, and their influence would still be less.

Personally, I come on here to see if there's anything new, find out what's going on in other areas of the country, learn from other-, in other words, network with other investors, developers, agents, contractors, lenders, etc. and for that, IT'S GREAT!!

Nathan, the little tag line doesn't really give alot of information, and I was curious of getting to know different investors, and their bigger stories, as I think it's interesting. My tag line says developer, but doesn't tell much. In reality we have developed everything from SFR subdivisions, SFR, multi family, office buildings, small office parks, office/retail condo projects, etc. Most we do as owner/builders as spec. We're dealt with single family tenants, and commercial, negotiationed leases with everyday people and govt. entities, and Indian tribes. Right now we're doing spec house in Lake Forest, CA, and will then be doing a medical office building, built as an office condo project, in Orange County, CA.

Like me, I'm sure many of you wear many hats, are curious to the back stories of all the other investors. The more others know about us, and we them, the easier to ascertain if we have something of value to them, or they us.

We've been doing this close to 30 years, and there's still stuff I learn on here. So.... keep your postings coming please! And if there's anything you can gain from me, please ask!