All Forum Posts by: Jordan Thibodeau

Just like in stock trading, you're going to find a lot of blowhards in RE. Johnny "I KEEP FINDING DEALS," George "MY CAP RATE IS 20% ON EVERY DEAL," and Frank the Depressed Real Estate Guy " Don't do it, I lost my shirt, stay away."

Eventually you find individuals who share your similar values. It's not going to be easy to find these people,  but the more you post on sites like BP, put yourself out there as an RE investor, you will find the right people.

@Kyle Evans 

 Well played sir!

You want to stay in this game as long as possible. Time is on your side when it comes to finding the right deal, don't try to swing for the fences on your first property.

I was 27 when I bought my first property. The reason why I waited so long is that I thought RE investing in CA is impossible, but it isn't, you just need to look in the right areas and have a strong criteria.

Happy Hunting!

One of the many mistakes I made when I previewed 100+ homes before I bought my first property was I had no reliable way to track the houses I previewed and more importantly I didn't track the condition of the neighborhoods I visited.

Now with Google's mymaps you can easily create a personalized real estate map to track all of the houses you previewed.

1. Create a new map titled "Real Estate."

2. Enter the address of a house you recently previewed.

3. List notes about the condition of the house and surrounding neighborhood.

4. If you want to get fancy, color code the pins to represent: Red - Fixer/Bad House,

Green/Offer Made - Good House

Overtime you will have a detailed map of your area so you will know exactly which neighborhoods fit your criteria and which areas to stay away from.

Happy Hunting!

I'm not a wholesaler but it took me 6 months of traveling to Sacramento every weekend to preview roughly +100 plus homes, and I made 10 offers before I closed on a Duplex. 

Maybe some other wholesalers can chime in.

Hi Team,

One of my units will be vacant soon and I need a cleaning service. Can anyone recommend a cleaning service in Sacramento?

Thanks,

Didn't read the rest of the thread.

But for CA, legally, if they are OK'ed by the state to have a daycare (license etc), in my state, you can't stop them (H&S 1597.40 for you legal nerds). (Quote from Nolo) "A landlord may not prevent a tenant form using rental premises as a licensed family day care home. A tenant who obtains a state licenase to run a family day care home may do so legally, even if your lease or rental agreement prohibts the operation of a business on the premises."

If you have an opportunity to save for a 401k without the company match, I say do it.

If your company provides you with a match, you're earning a risk & tax free rate of return that no investment could match.

If you have enough money for a ROTH IRA, do that too.

Stocks, Real Estate, Bonds, Annuities, and Commodities are all asset classes that tend to implode every now and then. It's ok to have more exposure in one asset class than another, but it's nice to have assets that are not 100% correlated in case the worst happens.

@Peter Lee 

 I see that as a con, and I'm speaking from a conservative view point. What if you under-perform one quarter, and the company uses this against you? What if other colleauges see it as bragging? Pictures add to much added attention from unqualified leads who don't care about RE, but would like to character assassinate you.

I would instead find more subtle way to discuss real estate, start a lunch group to discuss RE. People will know you "walk the talk" as soon as they hear you speaking intelligently about RE. 

@Victoria Navarro 

Have you argent set up a MLS listing for multifamily properties. Use Trulia or Zillow.

@Aroldo Villarreal Cash Flow and CAP Rate/ROI.

Ratios are fantastic, but I would focus more on the location, aesthetics, and quality of tenants you can attract on the property. Those 3 drive value. Don't be fooled by solid metrics for crappy homes.