All Forum Posts by: Jeff Pollack

This will be a FULL DAY workshop with Haim Palman, the Virtual Wholesaler Guy!

Register here: http://sanjoserenc.com/virtual-wholesaling-worksho...

Cost: $399, includes lunch, audio, and presentation slides.

Have you been discouraged from investing locally because of the big numbers and inherent risk in the Bay Area? Have you thought about investing out of state, but thought your only options were buy and hold or fix and flip? Maybe you’ve already got a functional real estate business but want to remove yourself from day-to-day operations. If you are a beginner wondering how to get started, or a seasoned investor who wants to better leverage his or her time, this workshop will provide you the tools and knowledge you need to succeed. Haim Palman, the Virtual Wholesaler Guy, will show you how to use virtual assistants, hire and leverage boots on the ground, and utilize systems in your business that can enable you to invest in any market from anywhere. And most importantly, free up your most valuable asset………….your time.

About the Speaker: As a real estate investor and entrepreneur, Haim has been involved in over 200 real estate transactions in multiple states using different strategies including Buy and Hold, Fix and Flip, Private Lending, Owner Financing and his favorite strategy, Virtual Wholesaling.

Since starting to Virtually Wholesale properties in 2013, Haim was able to quit his 9-5 job in September of 2015 and become a full-time real estate investor with a location-neutral-business. His main objectives (or his “Why”) are: spend quality time with his two children and his wife, travel the world, spend the summers in Israel where he is from, and really enjoy life. Haim also coaches others on how to virtually wholesale properties and to show them how to design a business that supports their desired lifestyle and not the other way around. Haim was born in Israel and now lives in San Francisco, CA with his wife and two kids.

About the Workshop: Are you looking to get into real estate investing, but find the numbers in the Bay Area daunting? Are you concerned that is could take months to find a Bay Area deal that makes sense? Or do you just need some info on how to remove yourself from your existing real estate business via outsourcing, virtual assistants, and automation?

This will be a full day, interactive workshop with Haim Palman, the Virtual Wholesaler Guy! Haim is not a “guru” and will not provide fluff and theory. He will discuss in detail strategies and systems he personally uses to run a highly successful virtual wholesaling business from ANYWHERE with internet access and phone service. The strategies, techniques, and systems Haim will share can be applied to and improve any type of real estate business (wholesaling or flipping, buy and hold or wholetailing, local or out of state). Haim will not hold back and will pack as much actionable information as possible into this full day event.At the end of this full day workshop you will have gained the knowledge to greatly improve your business if applied correctly. But as with all things, you must take action.

At this workshop Haim will discuss (among other things) in detail:

https://www.facebook.com/TheVirtualWholesalerGuy/

South Bay, South Bay Meetup, Bay Area, Meetup, Meet up, Meet-up, San Francisco , Oakland, Berkeley, Alameda County, Contra Costa County, South Bay, Peninsula, Walnut Creek, Fremont , San Jose, Milpitas, Sunnyvale, Fremont, Palo Alto, Santa Clara, Mountain View, Gilroy, Santa Cruz

Hi BP clan!

The next meeting of the San Jose Real Estate Investing Club will be November 29th, 2017. Our guest speaker will be Haim Mamane Palman, "The Virtual Wholesaler Guy"!

Please sign up and pay for this event at our web site http://sanjoserenc.com/next-meeting/   

Just $10 in advance, $15 at the door.

As always, a copy of the audio and slide deck are included in the price of admission.

Topic: Virtual Wholesaling....How to run a real estate business from anywhere with a laptop and phone

Speaker: Haim Mamane Palman

About the Meeting: Are you looking to get into real estate investing, but find the numbers in the Bay Area daunting? Are you concerned that is could take months to find a Bay Area deal that makes sense? Or do you just need some info on how to remove yourself from your existing real estate business via outsourcing, virtual assistants, and automation? At this meeting Haim will discuss (among other things):

About The Speaker: As a real estate investor and entrepreneur, Haim has been involved in over 200 real estate transactions in multiple states using different strategies including Buy and Hold, Fix and Flip, Private Lending, Owner Financing and his favorite strategy, Virtual Wholesaling.
Since starting to Virtually Wholesale properties in 2013, Haim was able to quit his 9-5 job in September of 2015 and become a full-time real estate investor with a location-neutral-business. His main objectives (or his “Why”) are: spend quality time with his two children and his wife, travel the world, spend the summers in Israel where he is from, and really enjoy life. Haim also coaches others on how to virtually wholesale properties and to show them how to design a business that supports their desired lifestyle and not the other way around. Haim was born in Israel and now lives in San Francisco, CA with his wife and two kids.

Meeting Agenda

7:00 Networking

7:15 Market update

7:25 Haves & Wants

7:35 Guest speaker

9:00 Networking

Hope to see you soon!

South Bay, South Bay Meetup, Bay Area, Meetup, Meet up, Meet-up, San Francisco , Oakland, Berkeley, Alameda County, Contra Costa County, South Bay, Peninsula, Walnut Creek, Fremont , San Jose, Milpitas, Sunnyvale, Fremont, Palo Alto, Santa Clara, Mountain View, Gilroy, Santa Cruz

Hi all, 

Here is my situation. Way back when my wife and I purchased our 1st house my in-laws helped with our down payment to reduce our mortgage. As such, my mother in law (father in law is deceased) now owns 17% if our property. We have now bought a new property and will move in after renovation. We will then sell our current property. My mother in law's 17% ownership has doubled in value from  $115k to $280k. Can the presumed capital gain of $165k be converted before sale next year into a mortgage secured by the property  to avoid taxes and have the secured property changed to our newly purchased property? 

Congrats on an excellent year @Bobby Nilsen! Its always good to hear about a Bay Area investor crushing it when so many other say "there are no deals in the Bay Area". The Bay Area is indeed the best market in the country to be a real estate investor. I invested out of state (GA and TX) for over 2 years before working my back yard. Had to do like a dozen flips out there to equal one decent one here. Just no comparison. 

Hi BP clan!

The next meeting of the San Jose Real Estate Investing Club will be October 25th, 2017. Our guest speaker will be Bay Area investor Kevin Roberts.

Please sign up and pay for this event at our web site http://sanjoserenc.com/next-meeting/ $10 in advance, $15 at the door.

As always, a copy of the audio and slide deck are included in the price of admission.

Topic: Buy & hold, Wholesaling, and Flipping......all in the Bay Area

Speaker: Kevin Roberts

About the Meeting: We've all heard it before. "There are no deals to flip in the Bay Area", "You can't cash flow in the Bay Area", "Buy and hold doesn't work in the Bay Area", etc, etc. This month the San Jose Real Estate Networking Club will host another local investor who will prove those assumptions wrong. You will hear how Kevin Roberts has been doing buy and hold investing for 10 years. Learn how he is sourcing and funding his deals, and when and how he successfully wholesales, flips, and holds.

About the Speaker: Kevin Roberts is a full time real estate investor and licensed real estate broker, based in Walnut Creek, CA. As an agent he worked for Century 21 and Coldwell Banker from 1984 - 1994. In 1994 Kevin became a licensed real estate broker specializing in residential real estate from 1994 - 2007. After helping hundreds of families buy their dream home, Kevin started buying houses as an investor in 2008. He has since purchased over 500 houses and condos in the Bay Area using a variety of methods.

Meeting Agenda

7:00 Networking

7:15 Market update

7:25 Haves & Wants

7:35 Guest speaker

9:00 Networking

South Bay, South Bay Meetup, Bay Area, Meetup, Meet up, Meet-up, San Francisco , Oakland, Berkeley, Alameda County, Contra Costa County, South Bay, Peninsula, Walnut Creek, Fremont , San Jose, Milpitas, Sunnyvale, Fremont, Palo Alto, Santa Clara, Mountain View, Gilroy, Santa Cruz

Justin, I flip houses in the Bay Area and have done several in Walnut Creek. A couple things. If the numbers on this property were accurate (i.e. ARV and rehab costs) my agents in Walnut Creek would have shot this over my bow given it was on the MLS. They didn't. The ARV he suggests is aggressive for that area and the rehab costs seem low. What is his scope of work? That place would REALLY have to be pimped out to sell for $1.25m.

The $752k 1st and your $200k 2nd put him at 76% LTV on ARV (if realistic). That's a bit higher than I'd leverage when using a 1st and private $ 2nd to gap fund, but not excessive. His cost of money for the 1st is pretty standard. Looks like 85% of purchase. He could easily get 85-90% of purchase and 80%+ of rehab from a hard money lender with the same terms, but he must have no cash to fill the gap. Also evidenced by the fact he wants to pay interest on the back end rather than monthly.

Walnut Creek is not Silicon Valley or even the South Bay or Oakland. Things can sit on the market a while up there and buyers often bludgeon you to death over inspection reports during due diligence. 

Not saying this can't work out based on the numbers. But I think the numbers are optimistic. 

I thought Wayne Gretzky said that?

 OMG. You know nothing about the Redwood City market. You're like the BP forum equivalent of a Russian Twitter bot. 

Don't waste your time Jake.

Thanks @J. Martin for putting this event together again. Its top notch! 

#1) What is the reason/goal that got you into real estate?

I got into real estate about 13 years ago after being asked by my father in law to renovate and manage the two apartment buildings (10 and 7 doors) he and my mother in law owned. I played GC for a few months and filled and managed the units. After seeing what kind of money those units were throwing off I told my wife we had to be in that position some day (i.e. own free and clear real estate that made us our money while we slept).  I soon realized I'm a ****** employee and did not want to work a day job any longer, so this "some day" goal morphed into a desire to emancipate myself from the day job and achieve freedom. The freedom to do what I want, when I want, how I want, and with whom I want. After getting laid off from the day job along with most of the company I decided I'd never work for somebody else again. I made sure to burn all my bridges and went full time into real estate.   

#2) How has your business/geography changed as we have advanced into this later stage of the economic cycle? (or not changed?) 

I started off in real estate collecting buy and hold "cash flowing" properties (SFH, small MF) out of state in the Atlanta Metro area and Dallas-Fort Worth. The goal was to buy enough of these for the cash flow to equal my after tax take home pay from my day job, at which point I'd leave the day job and do real estate full time. But in the reality based world, out of state single family properties don't cash flow worth a damn if you have standard 30-year fixed rate loans, even at 4%. Luckily, I bought near the bottom of the market, negotiated below market purchase prices, and bought in solid areas and/or in the path of progress. I made good money on appreciation. Even after I got laid off I was still buying out of state, but only kept property if I could get it for no money out of pocket. Everything else I either sold to owner occupants or sold as TK properties to people I knew in the Bay Area. As the market changed in GA and TX it got more difficult to find decent deals. Even in the best of times the margins were too small to justify flipping from 2500 miles away, so I started focusing exclusively on flipping/wholesaling in my own back yard in the Bay Area. Whatever I don't need to live on (or have fun on) I'm plowing into more passive investments so I'm not required to constantly find deals to flip or wholesale.