All Forum Posts by: Jeff Linder

I have been with BP for a couple months now. I am a new investor with several years of education under my belt, but in the process of building my team, laying the foundation, preparing for my first deal, etc. I have been looking into flipping/rehabbing/wholesaling. I am also reviewing the material I studied several months ago in preparation of taking the California exam to get my RE license.

It seems that every answer I get to my questions, and many people that respond to my posts here, and the general consensus for me is that it is very, very tough to succeed in investing in Southern California right now. I think I am on to something, or have found a great lead or contact... only to find out that they can't help me on this road to success as I hoped. Or their answer to something that I thought would be possible is that it is not possible, etc.

I have poor credit and no money. Lenders all want me to have skin in the game, making the no money an obstacle. Same with bad credit. The inexperience is a factor, and so on.

I am to the point that I am going back over my old study material for the exam, because my once-confident stature has been hammered back to reality and I feel like "what am I doing here? I might as well just go sell property instead".. even though that is not what I want.

I just need some positive comments or encouragement that may help me to continue to believe that I have chosen the right path with real estate investing and that someone in my position CAN do it, contrary to what everyone is saying.

Sorry for the long post, but I am desperately needing some help and would greatly appreciate any.

Thank you ~

I know who Than is very well. I don't know his system, but if you feel like you need that type of training and guidance, I would recommend Armando Montelongo's system. I've been with him for a few months now and the price is very fair compared to some other systems I've tried and been with. The amount of materials and education and resources they give you is outstanding. You get one on one personal coaching with any one of 12 different seasoned, successful investing veterans whenever you want. I really like it and it has given me SUCH a push with my education. Give it a look. I think you go to armandocoaching with a dot com address.

BUT - with that being said, I do think the best bet for your money is to not spend it on a course. I think you are better off finding someone who is willing to personally work with you and mentor you. That type of one on one attention and hands-on training is invaluable.

Keep searching this site for people in your area that do what you want to do and 'm sure you will find exactly what you need.

Good luck to you!

Hello, all ~

I am in the midst of building my buyers list - as I plan to begin wholesaling properties in the Southern California area very soon.

Would love to hear from those interested in wholesale property in SoCal...

Please leave me a message with your name, email address and phone.. as well as your buying criteria.

If you'd rather not leave that personal info on the forum, you can send me a private message or request me as a colleague.

Looking forward to doing business together soon ~

James and Jon, thank you for taking time out to respond to this. I appreciate it.

You both kept referring to the HML loaning based on ARV. That is not what I am finding here in Ca. Every single HML I've contacted loans based on purchase price, not ARV.

I'm not understanding that theory.

Let's say the ARV is $400k.

Purchase price is, say $250k.

and repairs are $50k.

The 65% loan on purchase price would be $162,500

Still don't know where to come up with the $50k for repairs or the additional $87,500 (difference between loan and purchase price)

I am definitely still talking with everyone and continuing my search for private money.

Jon, so let's say I DO find a HML that look sat the deal and loand based on ARV.. there is still that 35% and repair costs. Do most investors, that go this route, tend to get private money to cover that portion?

So, what I'm finding with hard money (still having trouble finding private money) is that many HML will lend up to about 65% of the PURCHASE price of the property (not the ARV)... leaving the purchasing investor to come up with the other 35% plus repair funds.

But what if I truly do not have any money?

Do I find a 2nd lender to cover the 35% and repairs?

How have you done it or how have you heard it being done?

Mark, this guy is asking for help. If you have a problem with the length of his post, then don't read it or comment on it. Please try to be helpful when answering someone.

John, my Mentor in real estate is about to hold his next "Make Me An Investor" course. This one will focus on wholesaling and it is invaluable! Amazing info that you will learn (many things you thought you knew but didn't). It is very, very reasonable compared to the price of many other programs. It is based in Southern California, but I believe you may be able to do it from another area. If you want more info, let me know... and good luck to you, whatever you end up doing! Don't give up!

That original post is 2 1/2 years old, so you may not get a response from him. But with me.. lets say I find Mrs. Smith down the street that has money from her late husband and doesn't know what to do with it and wants to loan it to me for rehabbing (random example)... what kind of paperwork/contract would I use regarding that money? I would love to see some kind of example.