All Forum Posts by: Adriel Liwag

Why are you trying to wholesale it if it's a good deal? 

I'd say asking for 50/50 would be fair but I'd also offer a little more to put him at ease as far as finding more deals, networking, finding more investors or raising more capital. At the end of the day, you are the driving force behind the projects. It's a lot of work doing the sweat equity that some passive investors don't understand.   

@Vincent Ludegna

You can still find MFR properties in the $450k or up price range in East LA as well. Have you considered those areas? They are also gentrifying. Granted as mentioned above they will be value add properties and most likely be tenant occupied but it's definitely an area with opportunity. I've completed a couple flips in those areas recently. The ADU is definitely a great option. @Nabil Suleiman who’s an agent/investor has been doing business in East LA and also has a lot of local knowledge to offer in those areas.

@Hovhannes Hunanyan

There a lot of hot areas in LA and a lot of investment options. What’s are your long term goals and what type of returns are you looking for? Providing more specific info would help narrow down the best answer to your question. 

David,

I would say it depends on your experience. This is how some of my current partnerships work. Will this be your first time doing this? What’s your experience in managing renovations? Do you have any skin in the game at all other than sweat equity?

@James Dean-Howell

As an investor, the very first thing you should be looking for when choosing to work with an agent is if they’re if they do any investing theirselves. If so, what type of investments are they doing and what is their view and experience with investing. I can tell you right off the bat that if they don’t do any type of investing then don’t waste your time with them. 99.9% of the time, agent don’t own their own home, don’t have any investments and don’t have any concept of renovations costs or financing costs with HMLs. You’ll find that being an agent is a job for them which is for most but they only see the big fat check in the front end. The point of investing is about your future, so unless you’re working with an agent who ms an investor as well, you guys will be on different pages. From my personal experience previous agents who’ve tried to work with me in the past are now coming back to me after barely learning about investing and telling me how they’ve realized why I never got back to them on deals they’ve tried sending me.

Never sign an exclusivity contract. 1) you don’t need to. 2) if you do, you’re prevnting yourself from other opportunities others may send you. And any good, investor friendly agent would realize that themselves and wouldn’t make you sign one. You should actually be letting agents know that you don’t work exclusively with any agents. The reason behind that is because you want to let agents know that you will treat them fairly by giving them opportunities in return if they were to give you opportunities. Do not tie emotions into the is business. There are plenty of people in the business to help you grow and those who take offense by you simply not being exclusives to them are the ones you don’t want to work with and will most likely not last in the business. Time is your most valuable asset, don’t waste your time without people who don’t bring you value because as an investor, at the end of the day you will be bringing them lots of value. 

If you haven’t RSVPd for this week’s  meetup, please do so. The link is in the original post.

I’m looking forward to seeing everyone.

Hi @Ellen Philips, yes we are looking at another week or two for completion and it’ll be on the market with @Nabil Suleiman. Would love for you to come see it.

@Nabil Suleiman

Investment Info:

Single-family residence fix & flip investment in Los Angeles.

Purchase price: $690,000

This is a fix and flip that we are currently renovating. We are adding sq ft and converting the garage to an ADU.

Puchase price:$690k
Rehab: $150k
ARV: $1.1- $1.3 million