All Forum Posts by: Juan Carlos Quiroz Zolezzi

Hi Jessie,

Welcome to BP, this is a great website and resource for all types of real estate investing.

We invest in real estate by flipping, owning rentals and doing loans. Our office is not that far from you, we are in downtown Upland.

I assume the prices for the appliances you sell are much better than home depot, lowes, and the like?, a lot of investors like to purchase there but have found other better sources for the different products we purchase, one of the products where we can get better prices is precisely appliances.

If your prices are better, then please call my contractor Mac Salcido at Urban Construction (909) 732 7434.

Anyways, I always recommend these 3 things to people beginning in Real Estate Investing:

1) Do a lot of research here

2) Do not spend a lot of money with coaches, it would be much better to put that money to work and learn from experience, I'm not against coaches or education, but you need to be careful as there are some that are really bad

3) There are many real estate clubs out there, visit them, select your favorites and meet other investors working your area. You can find info on clubs here and also you can look at meetup.com. Networking is key to success.

Cheers! see you around...

Hi Peter,

Welcome to BP, this is a great website and resource for all types of real estate investing.

We invest in real estate by flipping, owning rentals and doing loans. Our office is not that far from you, we are in downtown Upland.

I always recommend these 3 things to people beginning in Real Estate Investing:

1) Do a lot of research here

2) Do not spend a lot of money with coaches, it would be much better to put that money to work and learn from experience, I'm not against coaches or education, but you need to be careful as there are some that are really bad

3) There are many real estate clubs out there, visit them, select your favorites and meet other investors working your area. You can find info on clubs here and also you can look at meetup.com. Networking is key to success.

Cheers! see you around...

Hi Judy,

Welcome to BP, this is a great website and resource for all types of real estate investing.

I always recommend these 3 things to beginners:

1) Do a lot of research here

2) Do not spend a lot of money with coaches, it would be much better to put that money to work and learn from experience, I'm not against coaches or education, but you need to be careful as there are some that are really bad

3) There are many real estate clubs out there, visit them, select your favorites and meet other investors working your area. You can find info on clubs here and also you can look at meetup.com. Networking is key to success.

Cheers! see you around...

Hi Alan,

Welcome to BP, this is a great website and resource for all types of real estate investing.

I always recommend these 3 things to people beginning in Real Estate Investing:

1) Do a lot of research here

2) Do not spend a lot of money with coaches, it would be much better to put that money to work and learn from experience, I'm not against coaches or education, but you need to be careful as there are some that are really bad

3) There are many real estate clubs out there, visit them, select your favorites and meet other investors working your area. You can find info on clubs here and also you can look at meetup.com. Networking is key to success.

Cheers! see you around...

Hi Bernard,

Welcome to BP, this is a great website and resource for all types of real estate investing.

I always recommend these 3 things to beginners:

1) Do a lot of research here

2) Do not spend a lot of money with coaches, it would be much better to put that money to work and learn from experience, I'm not against coaches or education, but you need to be careful as there are some that are really bad

3) There are many real estate clubs out there, visit them, select your favorites and meet other investors working your area. You can find info on clubs here and also you can look at meetup.com. Networking is key to success.

Cheers! see you around...

Hi Kristian,

Welcome to BP, this is a great website and resource for all types of real estate investing.

We are full time investors working out of downtown Upland. Please send me an email so that we can chat about opportunities that we are looking to buy.

Congrats on the new baby on the way.

I always recommend these 3 things to beginners:

1) Do a lot of research here

2) Do not spend a lot of money with coaches, it would be much better to put that money to work and learn from experience, I'm not against coaches or education, but you need to be careful as there are some that are really bad

3) There are many real estate clubs out there, visit them, select your favorites and meet other investors working your area. You can find info on clubs here and also you can look at meetup.com. Networking is key to success.

Cheers! see you around...

Hi Julien,

Welcome to BP, this is a great website and resource for all types of real estate investing.

I always recommend these 3 things to beginners:

1) Do a lot of research here, there are several discussions for investing out of state, read those, investing out of state is challenging.

2) Do not spend a lot of money with coaches, it would be much better to put that money to work and learn from experience, I'm not against coaches or education, but you need to be careful as there are some that are really bad.

3) There are many real estate clubs out there, visit them, select your favorites and meet other investors working your area. You can find info on clubs here and also you can look at meetup.com. Networking is key to success.

Cheers! see you around...

Hi Conor,

Welcome to BP, this is a great website and resource for all types of real estate investing.

I always recommend these 3 things to beginners:

1) Do a lot of research here

2) Do not spend a lot of money with coaches, it would be much better to put that money to work and learn from experience, I'm not against coaches or education, but you need to be careful as there are some that are really bad

3) There are many real estate clubs out there, visit them, select your favorites and meet other investors working your area. You can find info on clubs here and also you can look at meetup.com. Networking is key to success.

Cheers! see you around...

Hi Rudy,

Welcome to BP, this is a great site with tons of information.

If this is your really first endeavor in Real Estate, I would caution you against the strategy that you are proposing. It is a very interesting strategy and without knowing all the numbers involved, I can tell you that it is more complicated and lengthy than it seems. Subdividing and new construction is a lot of work.

Have you done all the math on this?

As I understand your post, you are going to buy this property for 168k, then you are going to try to subdivide it (yes, less than 5 lots is easier than 5 or more, but it is not as easy as it sounds), and then you are going to build new houses that you will rent. Your strategy is to buy and hold.

How are you going to carry all this? are you buying with cash or financing? if you finance it, you should be careful if you demolish the house without the lenders consent as the lender may be considering that house as part of the collateral

Then again, part of your strategy should include to salvage the house so that you only need to build one additional house. If you salvage the house, then you can do min repairs and rent it to help carry the project to the end.

Have you considered the rehab cost for salvaging the house plus the cost of building a new house or the cost of building 2 new houses.

How will you finance the new construction? not a lot of lenders finance new construction and this is a more complex process and more expensive than getting a regular agency loan.

Anyway, this may be a more complex project than it seems and more complex than getting a cash flowing property with simple or no rehab.

Hope this helps,

Cheers!

Hi Jasmin,

Welcome to BP, this is a great website and resource for all types of real estate investing.

I always recommend these 3 things to beginners:

1) Do a lot of research here

2) Do not spend a lot of money with coaches, it would be much better to put that money to work and learn from experience, I'm not against coaches or education, but you need to be careful as there are some that are really bad

3) There are many real estate clubs out there, visit them, select your favorites and meet other investors working your area. You can find info on clubs here and also you can look at meetup.com. Networking is key to success.

By the way, I agree with @David Tipton law is not opposite to RE investing, it actually complements it very nicely.

Cheers! see you around...