All Forum Posts by: Jon Catterson

Hey @Anthony J. Sanchez, do you mean something like use virtual assistants or just do your own phone calls but not show your personal caller ID?

If it's the latter, you can do that with a Google Voice number. Sign up and set up which is easy. On Android, go to the menu (= sign with an extra line). Under calls, look at "Calls started from this device's phone app". Choose "select number before each call." On iPhone, just call from within the Google Voice app. 

Hope that helps. Good luck!

Hey @Remee Martin, welcome to BP. Yeah if you want to BRRRR I feel you that it looks like it's going to be out of state or at least away from Sac.

As for markets, I may be able to at least help narrow them down. I created a Google Sheet with every market on the BP sub-forums (or at least as close to those markets as I was able to pick) listing their price to rent ratio (AKA gross rent multiplier) and median home price from Zillow data. I found those two to be the easiest way to eliminate markets for me. I also wanted to list their population growth/decline since 2010 and a longer form evaluation of their economies. I may get around to that later when I'm closer to taking the out of home market plunge.

You're welcome to be added to the sheet as a viewer/commenter. Just let me know and I'll PM you the link. 

Hey Adam,

I'll try to help if I can. This is your first post on BP, so I'm guessing you still have some of your five free calculator uses left. I would use the rental property calculator on your property. If you don't know how to do that, I would sign up for a webinar held every Wednesday. If you can't make the time, you can watch it for a few days afterward. In every webinar, they teach you how to use the calculator. Spoiler: you probably wouldn't get $1,000 cashflow on that property at least if you're accounting for necessary expenses, vacancy, and property management.

I can't help you much with the down payment question. I do believe hard money is mainly used for fix and flip or BRRRR projects. I don't think it's used for a purchase of a turn key that you immediately set to renting. You'd have to pay the hard money lender back, right? You want to get the traditional financing, not the high hard money interest rate. So it wouldn't seem to work for turnkey, but I could be wrong about that.

Welcome to BP and I hope your investing journey goes well. 

Is an LLC needed or desirable to conduct your wholesaling business? I could see giving a link to how to look us up on the Secretary of State's website to show legitimacy as one benefit. Another big one is protection of assets. I don't have much when it comes to "retire early" but more than enough to hurt if someone sued it all away. One drawback in California is the $800 per year franchise tax on LLCs.

Do you have LLCs for wholesaling? Why or why not?

Thanks in advance.

Sounds like you're on the right track @Colten Unden. There will probably be a meetup later this month in Folsom if you want to check it out. Here is the thread: 

https://www.biggerpockets.com/forums/521/topics/846934-folsom-rei-out-of-bounds-brewery-meetup

You'll probably want to read the BRRRR book by David Greene pretty soon. He is a great writer, and it seems to me to be a very valuable book though I have yet to implement it.

Good luck!

Hi Jeff, you may want to look out for the next time this group has a meetup: https://www.biggerpockets.com/forums/521/topics/860076-west-sacramento-re-investor-meetup. It's a West Sacramento-based group which anyone can attend. 

The one in Folsom @Roxanne Quane mentioned has a thread here: https://www.biggerpockets.com/forums/521/topics/846934-folsom-rei-out-of-bounds-brewery-meetup. The organizer has said he will post updates to that thread. 

I look forward to meeting you! 

I am attending; I've registered. 

Interesting point, Ellis. Yeah, EMH/T is just such nonsense imo.
In many different markets, there are hundreds of thousands of people, making millions of mistakes, misinterpreting or ignoring billions of pieces of information, and I’m supposed to think the market is efficient? It’s so nonsensical to me. 

@Frank Hinck

Thank you for responding, Frank. I appreciate it.

@Kyle Kinsley

Newb here so quite possible I’m missing something, but I’m curious why you think interest rates will increase soon.

It seems the economy is hurting a great deal even though the stock market is rising due to quantitative easing (my opinion). It would seem to be economic suicide by Powell to raise rates until Covid-19 is behind us and the recovery is well underway.

Incidentally, that same QE may lead to the beneficiaries of it investing in rental priorities thereby driving prices higher.

Thanks in advance.