All Forum Posts by: Eric Giovannucci

Hello All, 

I was wondering if the option to make these forums more private was ever discussed? I think my main concern was that we discuss deals on here to seek advice on current deals we are working. Is anyone concerned about being googled and your deals being open to potential clients? Is there a way I can protect myself from this? I attempted to change my name to my first and middle but am having no luck.

I have a 3bed 3 bath SFR for sale for 140k

15K down 

125k financed @ 8 % 

I will have a previous note for 124k @ 3.5%- Mortgage and Escrow at 

Buyer wants to place cash down as soon as possible, we have a verbal agreement and I have contacted an attorney (www.lonestarlandlaw.com) in the state of Texas to do the contracts (he is charging $750.00) 

Looking for advice as far as being totally protected and if this is a good deal/good choice on attorney?

This is my first owner finance deal and would appreciate any input! 

Thank you all for your kind and warm welcome, its great to be in such an awesome community already. I will be attending meetings frequently as soon as I get settled in. 

Off to the first adventure, attempting to find myself a lease option here in San Jose, has not looked very promising thus far. We have already been pre-qualed for a 30 year VA, I am just unsure of this particular market right now and would like to have the option for a year prior to committing to a traditional mortgage. Any thoughts or tips on using creative financing within this area? We have also thought about going south to Los Gatos, Morgan hill or even possibly gilroy. I will be working in South San Jose by Almaden Expressway and Blossom Hill rd.

@Bebe 

@BeBe Cheng I was unaware of that, I have always gone to Lowes as it was local, and never really asked. Sounds like a pretty good deal to me! Thanks for the tip! 

@J Martin where do you normally post the meetings and "get together" online? Id like to be able to monitor them or be involved in any updates, if possible! 

Thank you both for the quick responses. 

@Hattie Dizmond  

She just placed it for rent @ 750.00 comparable to the adjacent units that are similar, I misspoke.  She is currently occupying that unit and wants to rent it out to purchase mine on a lease option. I however suggested to her that she sell the condo, as she owns it outright. I feel that there is a great deal here, even if I were to go in with a partner that is local on her condo, or even just wholesaled it, separate from the deal on my property. I can smell a deal, but my inexperienced mind can not piece it together.

Uh oh, I feel like the "new guy" that isinfringing on turf haha. 

I suppose that is a question that has been in the back of my mind concerning networking. How do these groups work, if most are working within the same area? Does the competition create much tension? 

Hello all, 

I just moved out of the El Paso, and have been contacted by a seller there who wants to purchase one of my properties. She has a condo that she inherited and would like to move it prior to purchasing my SFR.

I do not know much about the condo besides similar units are selling for 70-90k. It is a 3 bed 2.5 bath built in the 80's. It rents currently for 750. 

She through a number of 65k. She has been offered 35k cash from another investor in the area. 

Wondering how I should approach this, or if at all. I believe that I would like to attempt to get my hand in the pot, in one way or another. Any suggestions? 

@Abhay K thank you for the suggestions! I am thinking of going out a little east of the Walnut Creek area, possibly Pittsburgh/Antioch/Oakley? Thoughts? 

@Account Closed Thank you for the introductions to everyone! I am absolutely interested in meeting up! I am leaving Oct 5th and will be back in Dec, But consider me as active as possible as soon as I get back. 

Mod: I somehow double submitted, can you delete one of them, and this post. Still attempting to figure out how to use this forum. 

Well it is time for the paralysis analysis to end. I have essentially had my hand forced into starting my "investing". I am currently still on Active Duty in the US Army, and have been placed on assignment to San Jose, California for recruiting duty (blah). I have been planning on becoming more seriously involved in the real estate investing game, but have been to be brutally honest "scared". I am 25 years old and am married to my beautiful wife Alyson, we have two children together, Anthony (2.5 years old) and Dominic (1 month old) 

Short Term Goals: 

1.)Build a systematic approach to obtaining leads, and converting them into deals prior to starting. I forget where I heard it, but the reason businesses fail and franchises succeed is there "automation and systematized processes". I'd like to believe this will hold true within the real estate investing world as well. 

2.) Learn more through experience, possibly shadow someone local in exchange for some work so that I may get "hands on" knowledge.

3.) Use some of this knowledge I have obtained to use creative financing to obtain a residence for my family in South San Jose area

4.) Complete my first lease option deal prior to January 2015. 

Long Term Goals

1.) Build a solid team in multiple areas to invest in different markets. 

2.) Be able to feel confident in leaving the military to work within real estate full time (preferably investing solely right away, but backup plan is to possibly work as an agent)

I have sought out a paid mentor and he has helped tremendously thus far. However, I want to learn from multiple angles and even people that are within the current market that I will be living (I would like to start working East Bay). I think this forum will provide excellent networking, and would love to attend some local meetings with anyone that is active! 

I look forward to speaking with you all, local and far away, I am extremely grateful to have found this website, and podcasts (they made the drive from El Paso, Texas to San Jose, CA more enjoyable!)