All Forum Posts by: James Peterson

Thanks @Dennis Lanni 

 That's funny, I ended up finding that post yesterday and called Debbie's office.

Much appreciated, and Happy Holidays!

Who can you recommend that is familiar with double closings, assignments etc.

@Marianne Jett 

 Welcome to BP!  I work the South Bay and Sacramento Area.  If you run into any SFRs in these areas, please let me know!

Good luck to you!

@Nhi Nguyen 

 How about some detail on the units themselves? Single Family, Townhouse, Condo? Bed/Bath?

And more specifically what area in Silicon Valley?

Based on the description, 6 units, and sale price of $7.2m, you're projecting a $1.2m sale price of each unit.  

Sounds like a win-win in hot areas like Sunnyvale, Santa Clara, or the 85 corridor North of Blossom Valley.   Softer areas of South San Jose, East San Jose and North San Jose may be of concern.

Looking forward to hear more!

@Katherine Nguyen These are great questions, and thankfully you came to the right place for your answers!  I know @Account Closed you've got to know your numbers! What are the average rents, what is your PITI, ROI? What's are your long term and short term GOALS??

Find a deal where the numbers REALLY make sense and then figure out the ancillary costs/repairs and work them out to see if it is a deal killer or not.

Now for advice on the issues you mentioned...

1. Fireplaces, cracks in the chimney can be costly, and if it requires a tear-down and rebuild it will need to be converted to a gas fireplace.  If it is in the firebox or veneer, may not be too costly to repair/patch.

2 & 3 seem cut and dry, have a contractor replace the window(s) ($200-$1000 window) and repair the holes, handyman work.

4. I'd really need to look at it, but garages are fairly simple structures and can be built for $15-25k which is not a huge dent if it needs to be rebuilt.

5. I've seen too many times people swap out two prong for three prong with out grounding the outlets which is a big no-no code violation.  Best to have an electrician either put in GFCI circuits or run a ground wire to each outlet. Electricity is a major fire hazard if done improperly, best to avoid doing yourself unless you have experience.

Good luck on your search!!

@Dave Simpson There are companies out there that specialize in helping you in your situation.  They work with brokers, property owners and developers and have a vast network to help you bring a deal to fruition.  I know of a few that I get regular updates from via e-mail.  If interested give shoot me a PM.

Thanks @Michael Quarles 

Just finished your latest podcast, this comes with great timing!

I think the coaching/mentoring aspect could be the most beneficial.

@Jonas Guerrier 

Welcome to BP! You'll find many great resources to help you find, finance and structure flips here.  I particularly like the Podcast, easy to listen on while I drive and learn!

There are many avenues for financing. Search the following for ideas and experts:

1. Private Money
2. Hard Money
3. Seller Financing
4. Subject to(2)

Good luck on your adventures!

thanks @Jason Kowalski

Specifically we are looking for Cash Investors (buy and hold OR Flip), private money lenders, and other wholesalers to work with in the Sacramento Area.

Our direct marketing campaign is focused on: Single Family Homes, 2-4 bedroom. We will have other web and social media marketing for any distressed sale so we expect to have every thing from condo to multi-family opportunities.

Please add us as colleagues and shoot us a line with the types of homes and area you prefer.

Welcome Jessica! I'm come from the great Northwest as well, Portland Area to be exact, about 10 years removed. I'm in the South Bay with @Account Closed and others on the BP network.

BP is a great place to soak up knowledge and learn from others. To get involved with others in the area I suggest visiting some of the REI meetings, there are some great meetups for newbies all over the bay.

Good luck and get started now!