All Forum Posts by: Dean Carlson

I noticed that also and I believe you will see Chicago Title linked with many other escrow companies as well.  Chicago is pretty big and a lot of escrow companies are happy to be aligned with them.  I am pretty certain that Chicago is fine with it as well, even though they are aligned with pretty much any other escrow that will endorse them.  Initially you asked for a recommendation for Title, that was my intent, but when I saw Legends (whom I don't know about either way), I thought I should go ahead and throw in an escrow company also.  If for no other reason than to point out that Chicago title and any other escrow are not the same thing.  Good luck.

I don't know about Legends escrow but I can tell you that Chicago Title (title rep Fred Eckerts) is very REI friendly. And I believe Allison McCloskey in Pacific Beach is about the most versatile escrow company in San Diego. Good luck!

@Mario Flores

Welcome to BP!  

I too have done the FB thing and agree with @Luke Schrotberger that there is a lot of up-selling. A few points I would like to make are that FB is now headquartered here which means there are a lot of locals now doing what they teach, which makes the competition quite high. Also, the information they teach can be learned by reading books here.  Although their binder looks thick, I didn't notice anything in there that I haven't seen in the book on BP. One of their biggest "pitches" is their list of people that are happy to finance the deals for you...BP has those lenders and more. By coincidence, I have met a few of the coaches that people pay to keep them on the program, as well as sell them more stuff; I can't think of anything good to say about the ones I met.

In my opinion, you would be better off reading a book on flipping, then wholesaling (similar material) as you get very active on BP and consider connecting with a successful wholesaler/flipper and offer to help them however they need in exchange for mentoring.  The hardest part of all of it is "finding the deals"; that is truly the key.  I wish you the best.

@Ray Lai It looks like this is not going to turn out how you had hoped, that's pretty well established.  But I want to point out the best parts of this ordeal: 

1)  You took the first step and it's more than 99% of would be REIs ever do.

2)  You took the second step when you noticed the issues, by getting fast, free and helpful advice here on BP!

3)  Hopefully the wire-fees are all it will cost you.  If so, you didn't lose anything because you gained a lot of knowledge, and more importantly the confidence to take another step for future opportunities using the knowledge you gained.

Cudos!

After more than 19 years as a mostly residential agent I am finally taking the leap into the investor arena.  I have some experience and a lot of knowledge, now I need a client, or two.

I am a full time agent with a great track record of customer satisfaction.  I grew bored of the same-ol', same ol' and decided to do what I originally set out to do.

Here is what I will do for you once I know your criteria:

*  An email (with a my full analysis) of any new opportunities in your in-box by 9 am.

*  Complete investigation and report (including personal visit, photos & video) on further details that were not initially available on any opportunity you thought worthy of further investigation.

*  Write offers and send to you for electronic signature, for any property you deem worthy.

*  Offer suggestions for alternative ways of accomplishing a goal, when appropriate.

*  Use the all the tools I have available as a Realtor as well as the ones to which I subscribe, to search, research, network or anything else that would make your job as an investor easier.

*  Give you the first right of refusal for any off-market opportunities I find during my aggressive searches for new opportunities (with the exception of potential flips).

*  Assist you (however you feel comfortable with) in performing any of your due diligence with complete loyalty to your interests.

*  Meet with inspectors, appraisers, contractors, property managers, or anyone else relevant to your transaction, on your behalf.

*  Always have your best interests as my only goal.

*  Credit you (through escrow) with any commission above 1.5% of the sale price for purchases of other broker listings (1st transaction).

What I ask of you:

*  Honest contructive feedback for my efforts/performance

*  Integrity

*  Promise to pay me a minimum of 2% commission for any off-market opportunities I provide where the seller would not commit to paying a listing commission.

*  Realistic prudent investor expectations for the local market

*  A 90 day listing agreement (at 1.5% listing broker commission) to sell any properties I assisted you in purchasing if/when you decide to sell.

*  Consideration for a 90 day listing agreement (at 1.5% listing broker commission) to sell any other properties you decide to sell.

If that sounded at least pretty close to what you are looking for, please contact me on BP or email [email protected] or call (619) 721-3142 for a no obligation interview.

There is a way to do it but you need to change the business model a little.  Go to where people like to vacation... OB, PB, PL or downtown.  Then you can double or triple the rent you would otherwise get by setting it up as a Short Term Vacation Rental (STVR).  I'm an agent and would be happy to help you out.

Hi, I’m looking for a few investors that would be willing to compete for off market flip and or rehab opportunities. Go to REflipSmart.com if interested. Thanks, Dean

Hi Toni,

Welcome to BP. I explored your website and couldn't determine for sure if we could help one another. Your website mentions that you can help people that are over-leveraged.  I don't know how to do that other than short sale so if there is something that I don't know please let me know. I like to be able to have a solution to answer any issue regardless of whether or not I can profit form it, so take a look at my website and let me know if you see where we can align.

Thanks,

Dean Carlson

I agree with @Brian Lacey and I have a little more to add to it.

San Diego is America's Finest City, yet there quite a few cities that I don't think come close to having as much to offer, yet they have much higher real estate prices, for instance: Seattle, Boulder, CO., LA, and of course San Francisco and the outlying areas of it.  The main reason those cities have such high prices is because High Tech industries have moved in with super high salaries. With the idea of "It's not what you make but what you keep that matters", soon they will realize that offering a talented college grad $125K start salary isn't going to mean much because the grad will be spending half their salary on house payments in a climate that is less than ideal.  I predict that the next boom is going to be in San Diego because it's a great place to live, the whether is great and the real estate is cheaper than the aforementioned areas.

If I am wrong on that then the fact that the STVR business is booming in San Diego year-round, which is causing monthly rents to go up and will ultimately cause an even greater demand on home prices.  I think appreciation and rising monthly rents makes San Diego a great investment opportunity for the long term.

You're an investor...that's your job and to keep that job you need to make as much as you can on each deal.  You are entitled to earn as much as possible because you're the one that did the work to get the property, you took the risk in buying it, and you should reap the greatest benefits for your efforts.  Don't concern yourself with a friend with a license, they are a dime a dozen (at least in California).  Did your friend offer you a significant discount on commission because of your friendship?  If not - you are putting more value on your friendship than your friend has.  As a real estate investor you need to make as much as you can on every deal because you don't know how big of a loss you will take on the next one.  You're occupation is hazardous, you deserve every cent you can get.

Here is what I would do in a low inventory market: Make an email to promote the property, and offer a 2.5% commission to the buyer's broker. Take the opportunity to promote your brand while you're designing it. Send it to every agent in your area, post it on craigslist and call the most active agents in the area. If they have clients that are looking and they can't find something for them in the MLS, they have the opportunity to not only make a quick sale, but also look like a hero to their client. You may also pick up some other opportunities in the future because of the branding and phone calls.

If none of that worked, then you probably are not really in as hot of a market as you thought, so you better get it into the MLS.