All Forum Posts by: Joseph M.

Susan O. I live in L.A and saw that about Garcetti . L.A rent control already covers most Multis in L.A Any buildings build before 1978 ( October I think) Sounds like he wants to expand to every property including single family homes . This of course most likely would reduce the building of new buildings in L.A.. but at the same time he says he wants a lot of new housing built

Danny Attias I live in Los Angeles. I agree with the other posters this is now an in demand and popular area. Downtown L.A is nearby and is a hot area these days . You mentioned they are going to be condos but rented out ? Would be interested to hear the numbers . Cost for land and how much to build all the units . This is some kind of syndication ?

I liked this episode a lot more than I expected when I read the description. Mostly because Bryce achieved financial independence /retirement via real estate and he was making a modest salary in a one income household . Many times we hear about the couple each making six figures at their jobs . I definitely think he is a lot smarter than he claims to be too as others have said .

Wade G. The idea that millennials aren’t buying homes is a myth . Of course in high cost cities it’s tough for most millennials to buy a place . The millennial home ownership rate is 35.3% right now. So the idea that millennials aren’t buying homes just isn’t true. https://www.cnbc.com/2018/04/26/millennial-homeownership-suddenly-drops-after-a-good-run.html

Sorry to hear about your experience with Morris Invest.. it’s companies like this that don’t help the reputation of the industry unfortunately . I have heard of them for a while as they do a lot of marketing , but just started hearing negative things more recently . I think you have gotten a lot of good advice . Hopefully you can get the property stabilized with a legit tenant if you chose to do so . On the plus side the general real estate market is strong now and hopefully values have gone up in the area . Hopefully this experience doesn’t turn you off to real estate investing entirely and just makes you a better investor in the long run . Please update us and let us know what you end doing .

Congrats ! Amazing how the site has grown ,, I know it’s been a lot of hard work on the part of Josh , Brandon , Mindy , Scott and the whole BP staff . Thanks for providing such an open place to discuss real estate investing and awesome content .

J Benoit Are your investors typically able to get all their money back when they refinance ? Do you handle all the rehab to get the properties rent ready ? How much are the properties typically cash flowing after the refinance is done ? Would be interested to hear about a typical or recent deal. Thanks

Monica Breckenridge Do you avoid working with agents that are also investors ? These online brokerages usually seem call themselves “cloud brokerages “ , eXp is the largest and fastest growing as far as I know . Everything is done via the Internet . They have a portal even which is a virtual world like Second Life where you can interact with colleagues and support staff . The idea is that is an agent owned brokerage versus a franchise model . They are publicly traded on the stock market and the stock has really skyrocketed . Low of the year was under $3 and last I checked it was about $13 . As far as physical offices they don’t have any which is why they can offer a better split and lead gen tools and stock incentives etc . They also have many hours of live online training per week as well as prerecorded training . I know they do have a partnership with Regus which allows free access to their business lounges . Some of the teams operating within eXp might have their own local offices though . I’ve heard mostly good things about them so far . They have excellent reviews on Glassdoor as well.

Dani Borow as others have said save your money. This guy definitely sounds like he’s the type of guru that exploits newbies . I’m assuming you would be working for a contractor that works on flipped homes in your area ? A competent and active contractor should have a good idea of what makes sense for the area . Even if you hired a designer as well you’d still save money versus paying the $50,000 . Searching listings online for homes that have sold as flips and see what kind of design they use or go to open houses of flipped homes . There is a lot of home design software out there . I did a quick google search and there are even some that have free versions .. but even the paid versions are not much . Search home design software . Spending that much on software would only make sense if you are already actively doing a lot of deals /business and let’s say you spend $50,000 on some software but it’s saving you $150,000 k or something . The gurus want to make it seem like there are a bunch of secrets and only they know them .. and they’ll only tell you if you spend tens of thousands on their programs .

Logan Allec , oh ok I have family there . I had been looking during the crash but didn’t pull the trigger. Prices went up a ton since the crash even more than L.A I remember houses even under $50k or so that weren’t in that bad shape .