All Forum Posts by: Varinder Kumar
Varinder Kumar has started 70 posts and replied 346 times.
Post: Best Beginner Note Education Course PaperSource or NoteMogul?
- Real Estate Broker
- LA & ORANGE COUNTY CA -Multi Family
- Posts 372
- Votes 132
@Elizabeth Wilson Thanks! Keep me posted on how it is please!
Post: Best Beginner Note Education Course PaperSource or NoteMogul?
- Real Estate Broker
- LA & ORANGE COUNTY CA -Multi Family
- Posts 372
- Votes 132
Originally posted by @Elizabeth Wilson:
I don't know about either of those. We are going to http://noteschool.com/ in a few weeks. I'll let you know how it is. My husband went to their one day seminar and thought it was useful.
If anyone else reading this has an opinion on Note School, I'd like to hear it as well!
Thanks!
how much is it for noteschool?
Post: Ocean front property analysis help!
- Real Estate Broker
- LA & ORANGE COUNTY CA -Multi Family
- Posts 372
- Votes 132
Currently working on getting offer approved by bank. This is a short sale home located in Malibu, CA. The seller is in default. The price i offered is $1,250,000 the property was in escrow last year for $1,550,000 but it fell out because seller wanted to live there for 6 months no rent. The story is he is a 75 year old man who works as an architect, he got cancer couple years ago survived and due to the cancer he was unable to pay mortgage. The comps are anywhere between $1.5-2.5 million. This particular property is a 3200 sqft home. It used to be 2 condos which are now combined in 1. It faces the ocean.
My plan with this one is to simply buy and relist for sale with little rehab work. The home is dated but livable. I dont want to spend money on rehabbing a complete flip gutting kitchen etc.The fact that it was in escrow for $1.5 million last year is what makes me believe it should sell for that or little bit more maybe $1.6 million. Just wondering what your guys thoughts are about purchasing and relisting with no rehab? Please advise. Thanks!
Post: Scott Carson 'Note Buying for Dummies'
- Real Estate Broker
- LA & ORANGE COUNTY CA -Multi Family
- Posts 372
- Votes 132
Thanks!!! Thomas I will look into this. Really motivated on notes right now.
Post: WaPo: Republicans want to do away with the 1031 exchange
- Real Estate Broker
- LA & ORANGE COUNTY CA -Multi Family
- Posts 372
- Votes 132
That would be nice as far as off setting the expenses but now you would have to purchase something alot greater in value if your selling property made you a great profit. So the "equal value" of 1031 would no longer benefit you because if you made a great profit but purchased something not too much different in price then you might still have gains to pay on. Hopefully this makes sense lol. But that's how I see it.
Post: Any wholesalers in the Los Angeles/Southbay Area in California?
- Real Estate Broker
- LA & ORANGE COUNTY CA -Multi Family
- Posts 372
- Votes 132
Personally i would not use wholesalers unless you are on their "VIP" list. Never enough meat on the bone my friend. No offense just saying.
Post: Scott Carson 'Note Buying for Dummies'
- Real Estate Broker
- LA & ORANGE COUNTY CA -Multi Family
- Posts 372
- Votes 132
Originally posted by @Kevin Toliver:
I took Scott Carson's 4 day Note Buying for Dummies course in Feb of this year and was blown away. I wondered if he needed 4 days to deliver his materials. He absolutely did. This course was packed with valuable content. From how to find deals, how to brand and market yourself, useful websites and inexpensive tools to increase productivity, how to perform due diligence, and multiple for profit exit strategies.
His course is very interactive and Scott gives many opportunities to ask questions and fully understand each concept presented. It was well worth the time and money for the practical overview of the note business. He had several mentoring students present RECENT deals they are involved in; this was impressive as other coaches show "grand slam" case studies from 5 years ago. This led me to believe they are active in training but not very active in the business buying and selling notes or they only show cherry picked deals that have ridiculous results.
He also has personal mentoring program as the next step but this was a no pressure offering for those that expressed an interest. I was extremely interested in the mentoring but chose not to enter at this time cause I am still paying for coaching from a different mentor that did not provide a fraction of the value Scott Carson does. He is the real deal, I would highly recommend.
Kevin
Hi Kevin where can I find his course? Please advise I am very interested. Thank you
Post: Agents or Realtors in Orange County, California?
- Real Estate Broker
- LA & ORANGE COUNTY CA -Multi Family
- Posts 372
- Votes 132
Originally posted by @Joe Homs:
I can help you with that, but after you speak with me I may convince you that it's really NOT the time for buy and hold properties in California. Call or PM
Welcome to BP. There is a location where like minded investors gather in Lake forest every month that you should check out. PM me for the details.
If you would like to chat before then and talk about investing let me know. I am in Mission Viejo and can get together at my local Starbucks. Your ALL in cost is only a cup of coffee.
I am currently flipping homes in Orange County and teach others how to do so as well. I started a wholesaling group and spend my Saturday mornings with them.
I am looking for my next purchase at the court house steps, while I am working on a few more.
Good Investing...
I agree with Joe prices see high right now, unless you find something off market with a motivated seller, which we all are looking for...
Post: Leveraging 100% equity?
- Real Estate Broker
- LA & ORANGE COUNTY CA -Multi Family
- Posts 372
- Votes 132
I would not cash out the FL residence. I would rent it out for the whole year and collect that monthly income. How much rent are you getting? I live in CA and am invested here so if i know numbers i can give you a better idea and areas to consider. The market should go down by next year, its going to continue to rise through out this year. Interest rates have gone up as well. I would wait in any case. Unless you find a diamond in the rough, which everyone and their mom is going to be all over here anyway. I am waiting it out my self. Also if you can exercise "house hacking" out here it would be great. Look for multifamily duplex, triplex etc and live in one and rent out the rest. I believe in free and clear rentals, others may disagree. Good luck!
Post: What Is Your Highest Rent On A Single Unit?
- Real Estate Broker
- LA & ORANGE COUNTY CA -Multi Family
- Posts 372
- Votes 132
$2700 for Orange County, CA. SFR 3&2, 2 pets $1000 pet fee, $500 each pet. Mortgage on home is $2000. 6700sqft lot. 1200 sqft home.