All Forum Posts by: David Oldenburg
David Oldenburg has started 70 posts and replied 437 times.
Post: Six Figure Flippers January 9th 2018 630pm

- Lender
- Granite Bay, CA
- Posts 456
- Votes 454
David Oldenburg and Nick Sharp are taking the stage and kicking off 2018, with "6-Figure Flippers"! Watch our promo video 6-Figure Flippers ... We are an 1,100 member real estate investing group, and we are FREE to attend! For 2018, we are focusing on our most requested theme, "Real People Doing Real Deals!" We get more people asking, "How can I find more deals?" , "How can I get financing or partners with no money of my own?", "How can I learn about flipping, wholesaling, and wholetailing?" , "How can I meet hundreds of other investors, build a team, and build my wealth?" Yes, we talk about all these things at our meetings and there are always over 100 people in a filled room. Everyone is welcome and everyone has fun and a good time. This is NOT a boring real estate investing meeting. Bring a friend and come on out! There is also a bar and a restaurant, so get there early, get a good seat, and have fun! Bring business cards and be sure to get on our Member Directory if you want people to contact you for business! Again, it's FREE and we pitch no products!
Post: What are the SEC requirements for soliciting private money?

- Lender
- Granite Bay, CA
- Posts 456
- Votes 454
There really is no need to advertise or solicit investors. If you go to real estate investor meetings and just simply network and tell people what you are doing, they will offer and want to partner, loan money, etc... If it sounds interesting. I run a big group and people constantly ask me if they can loan me money, partner w me, or be involved in what I'm doing. I see this with other investors as well.
Post: should I get seller in foreclosure sign option purchase agreement to flip his house?

- Lender
- Granite Bay, CA
- Posts 456
- Votes 454
@Tae Seung Kim I know it's been a while since you posted this, but I wanted to respond to help anyone in CA reading this thread. I always use the California Association of Realtors (CAR) purchase agreement for all my deals. I am also a licensed broker, so I realize not everyone has access to these forms. Yes, this form does not allow for assignability, but I have yet to meet a seller who will refuse to sell to someone else with the exact same terms they have already agree to...your mileage may vary!
The standard inspection contingency is 17 days, meaning that you can back out for almost any reason, with no liability and get your deposit back. However, if you remove contingencies in writing (they must be removed in writing in CA), you are typically only liable to lose the actual amount of the deposit. I have been doing this 27 years, and I have seen hundreds of people back out of contracts, and so far (knock on wood) no one has ever lost their deposit who backed out before contingency removal, and no one has ever lost more than their deposit for backing out later. I am sure there is a RE attorney who would have an exception, but that is my experience.
Good luck to everyone :-)
Post: Awesome 1,000 Member Real Estate Networking Party

- Lender
- Granite Bay, CA
- Posts 456
- Votes 454
I was unable to put this video in the actual event, so I hope this helps for those who are interested in this event! Just click here to watch... 1 Minute Youtube Video About Event
Post: Advice for Investor in High Priced Market

- Lender
- Granite Bay, CA
- Posts 456
- Votes 454
I have to agree to disagree with anyone who would rather buy and hold than flip! Yes, flipping is more work and wholesaling is more work, but the rates of return are incredible. I consult with 25+ real estate investors every month, and most of them are making a near zero return on their rentals, when you factor in repairs, vacancy, payments, etc... Yes, there is appreciation over time ( not always and sometimes you actually lose equity!) , but I can make in 45 days the same amount they make over years. I built my wealth, not with buy and hold, but with large profit, short-term, deals, and I have done far better than almost any buy and hold person I know. I am not suggesting that no one do buy and hold, but the question was about the high-cost market in SD. SD is a great market to flip, and I have met flippers in that area who are making a lot of money. You may not agree, but I will never own another rental. I survived the huge crash in RE that started here in CA in 2005 and went for several years. I had no rentals and lost zero equity. I watched as hundreds of buy and hold people lost everything and got wiped out. Investors like me actually made money during the big RE downturn. Go out and buy rentals, but understand there is another side to this story!
Post: $120k cash borrowed, now what?

- Lender
- Granite Bay, CA
- Posts 456
- Votes 454
Post: Advice for Investor in High Priced Market

- Lender
- Granite Bay, CA
- Posts 456
- Votes 454
Post: Awesome 1,000 Member Real Estate Networking Party

- Lender
- Granite Bay, CA
- Posts 456
- Votes 454
@Account Closed Hi, I got a message from Thanh, and she said she is coming to the May 2nd meeting!
Post: Awesome 1,000 Member Real Estate Networking Party

- Lender
- Granite Bay, CA
- Posts 456
- Votes 454
@Paul Hitchings It's going to be a big crowd and a great night! We average about 120 members at our regular meetings and this is a bigger event :-) I have people coming from So Cal, Oregon, and Nevada!
Post: Awesome 1,000 Member Real Estate Networking Party

- Lender
- Granite Bay, CA
- Posts 456
- Votes 454
This Is Our Biggest & Best Event Ever!