All Forum Posts by: Eric Giovannucci

Great to see people active back home! Look forward to the pictures when all is complete! 

Hello All, 

Due to me being a transient at the moment, I have decided to start online marketing. I have created a website through lead propeller. I am looking for some hard honest assessment of the site and any advice to start generating some traffic. Just for starters, I created a small FB add (30 bucks a week), looking for some more cost effect and or free? 

I have toyed with having some local's to do some door hangers, but I have yet to put any serious thought/ number crunching to that quite yet.

Jordan,

I know we have spoken briefly about getting down to @j Martin's meetups. We can get together next week and talk some more.

However, to provide a little insight from where I sit. I too find myself becoming more paralyzed due to over analyzing everything. I've spoken with a few people that are established in the area and plan on just sitting down and having a cup of coffee with them to ask about the market. I feel like asking for anything besides some quality conversation and brain picking right off the bet is going to come off as needy and a typical newbie.

I think the best approach is to create a presence within the community. I have started marketing by creating a website and just emailing on fsbo and other craigslist ads. I honestly plan on either wholesaling or just providing a potential deal or two to an established investor in trade for some working knowledge. That being said, I have lined up a few lenders and talked to them about requirements. I feel like if I wanted to take the risk at this point and go at it just myself and my wife that I could, but I would prefer to work with or for someone on the first one.

Well get together soon, stay in touch.

I have read several arguments and still somewhat in the air about whether or not to form an LLC prior to getting started in flipping and some buy and hold in the near future.

I have just moved to CA and am just starting to gain the knowledge of CA law. 

What can you suggest as far as should I just do my first few deals by myself in my own name with an umbrella policy? Or should I just go ahead and establish the LLC?

Hello All,

Currently my new tenant for my SFR is becoming a nuesance.

I have to constantly call her as the 1st comes to an end to "remind" her that rent is due. We initially agreed upon having a direct deposit set up, but I did not put it in the rental agreement (Mistake #1).

I have since informed her that I want a direct deposit set up, and she initially agreed when I met her at the residence. Now, I am getting ready to move out of the area, and she is not answering phone calls, and did not return the direct deposit slip.

Any suggestions on what I can do, and what I should do?

Thank you all in advance.

@Bill Gulley 

Thank you for opening my eyes on how to approach this. I have always been a straight shooter, that likes to be clear,concise and to the point. However, I was unaware how to approach it from a private lending angle. You have certainly assured me that presenting my deal, while being upfront and ensuring I am relatively knowledgeable on the topic at hand should ensure that I am good to go. 

Now to start finding lenders in my particular area. 

Thank you again for your time and wisdom, it is greatly appreciated.

@Bill Gulley @Jonathan Godes

Thank you both very much for your insight. It certainly helps to hear from lenders on what it is you are looking for. 

I was planning on putting together a "company package", using this to introduce myself and my model, and then possibly a sample deal prior to even attempting to arrange financing. I figured this would open up some doors for potential relationships for future endeavors. 

@Kate Fayn Welcome to BP! 

Great first step going to get your RE License. My wife and I are doing the same. BP is full of amazing people that are willing to help. That being said, there is a plethora of information to be found via several different sources here on BP. The podcast are awesome and can really cut a drive or a plane ride down. Also, the two books that are currently being sold here are by far the best investments in myself thus far. I believe I spent less than 75 dollars on both with shipping. Again, welcome! 

Lenders, as you know getting started is quite difficult in this investing strategy, especially if you are young, have limited funds, and all you can hold on too is you're credit and your savings of 20k or so. So I am reaching out to the lenders of the community for some insight.

When attempting to fund your deals in the beginning, what is the best way to start a relationship with a lender? Having no experience is obviously a downfall. However, what are you looking for in a novice investor to prove his/her worthiness enough to earn your trust and confidence so as to build a relationship to be able to lend on deals? 

I am not necessarily looking for anyone to loan me money at this point in time, but I want to ensure that I can build a relationship so that I feel confident when I have a deal in my hand, that I can act quickly, close, rehab, and move on to the next.

Also, seeing as how I am attempting to invest in Norcal, more specifically the Bay Area, the prices are much higher, is this going to present an unavoidable obstacle with a lender when attempting to obtain almost 100% financing?

My wife and I have contemplated getting our license to both help kick-start our investing career, and provide my wife with a career while we build upon our business. We are new to the thought of becoming agents, and have a good working knowledge about some of the trade. However, we know we are going to start taking classes.

We ran into www.realestateexpress.com and were thinking this would be a good way to go. Does anyone have any experience with them. Will this still provide us with a good knowledge base to begin, or is it merely an easy way to get licensed?