All Forum Posts by: Jose Tamayo Jr

@Brett Blough,

Welsome to B.P. site, The Ventura County R.E. Market is tight and like you said most properties get snatched up quickly from the MLS even though the numbers dont work for some of those investments... I and @addam Gratt can help sending you some wholesale deals just send us a PM and we can see what you are looking for?

There is a great REI Group meeting every month on Thursday nights called "VC Real Estate Investors Club" and the event host is @Jeff Greenberg.

I went last Thursday for the 1st time and networked and learned a lot. I also recommend to talk to @Tim Soto as well.

Welcome and let me know how I can help.

Best Regards,

Jose Tamayo

Endow Investing

@Michael Segvich

You can use the BP Analyze tab on the top of the page and use the "Rental Property Calculator". Good luck.

@Anant Lal

Great job on your 1st purchase and you can find some files here on BP.  go to Resources tab and click on the FilePlace and then search under contracts... but see attached link

http://www.biggerpockets.com/files/user/REISkills/...

Hope this helps and keep up the good work!

1. Not A bubble yet in my area, but I can see similar patterns going on now than what happened in 2005-2008... some houses that need to be fixed up are selling close to market value or at a small discount... and you still have to put lots of money in to the houses to fix them up actually be worth market value. It doesn't make sense? But one this is for sure that i wish I knew more about economics and what happens to the economy when the Minimum wage goes up? If anyone can have some sort of insight?

Because Out in my area "LOS ANGELES — The nation’s second-largest city voted Tuesday to increase its minimum wage from $9 an hour to $15 an hour by 2020" 

http://www.nytimes.com/2015/05/20/us/los-angeles-e...

I think that this may have a huge effect in the Real Estate Market in the Los Angeles area and surrounding areas... Am I wrong on thinking that some prices of homes in these areas might still go up because these people that are now going to have more money will potentially want to move of renting and buy a home or at least have more money towards a better property for rent??? I might be ignorant but that is why I am asking for peoples opinions?

2. Possibly the bubble can pop any time after 2020?

I agree with @jay Scott because it is an election year they cant afford a crash at this moment... I also see that the banks are more willing to lend to people...

@Ryan D.

Can a deadline be put on the post card? for example need to know by X/X/XX date? or do you not recommend that?

Thanks.

Jose

@Sean McNamara

Thank you I actually created a small personal list in my neighborhood and will add those key notes in my letters. As for as Post Card V.S. a personal letter what would you recommend? 

Hello BB

I am a new wholesaler need of help. I have gotten my (owner occupied & absentee with equity) list and I am ready to do my 1st mailer campaign but i am not sure on what I should or shouldn't say (legal) on the post cards.

I already set up the mail merge from excel to word and I am planning on using Click 2 Mail but I find my self stuck on what I should tell the seller?

Any samples or advice is greatly appreciated.

Would like to mail these out by 05-27-15

@Dawn Brenengen Great article, Bad news for FSBO.com because Colby Sambrotto could not do for him self what his company offers to others... Hmm Thanks again, Im now leaning towards the Realtors 5%... because of all these great comments from everyone.

@Michael Hicks good point if I am willing to droop the price already that means im willing to pay a realtor and receive more for my buck!

@Scott Reiley good way to look at it from a legal perspective Ill rather pay to have a professional / lawyer when im getting sued than represent my self.

@Gavin Srone I would like to sell to get the experience but I feel as a new investor/ wholesaler /  newbie i need to learn a bit more before I can feel more comfortable. & Honestly you bring up a good point, "if I have time to show it" well I work 12 hour days and work 22 miles away from home. So I think the answer to that is "I don't"!  Thanks

@Frank R. I do have some good sales background and I feel strong in that aspect, but the escrow process is my weakness as I don't know much about it.

@Radhika Miriyala Yes the market is slowing down but like I also mentioned I do not need to sell or need to move, I want to test the market but now that I see it slowing I might have missed the timing.

@Jay Hinrichs Definitely not a red hot market like it was about 1 month ago when I stumbled on bigger pockets and started to change the way I think and started to work towards my new life. This is where I began to think on the market conditions and my equity and what I could do with it if I had it ETC...

To Everyone : I a lso forgot to mentioned that I'm not completely finished with all the repairs / upgrades.

The A/C is going in Next Monday

The Windows still need to be Installed next week.

The Landscape (my fathers business) needs finish Next week after everything else is done.

So I am looking at 2 weeks before the house is even ready to consider putting it out on the market and staging it.... OMG...  after reading every one of your comments I believe that I am going to wait till I finish all Repairs / Upgrades and then Put it on the Market with a realtor if the market picks up, If its slowed down I will keep my house a bit more.

Thanks again,

Jose Tamayo

@Tim Soto

Wow cant tell you how much I truly appreciate your input in this FSBO question of mine. I have done some research on selling with adents vs FSBO and their are mixed view but for the most part they say that Realtors do not pay for them selves because they don't sell your house for more money or for 5% more than the asking price (hope I didn't offend anyone). Yet they do sell it quicker, And since I am not in a rush to sell or don't have to sell, this is why I am contemplating doing the FSBO. I have also looked at ForSaleByOwner.com and they offer a good variety of packages to chose from https://www.forsalebyowner.com/sellyourhome/packag...

They offer to put the listing on MLS, zillow,Yahoo, Trulia, etc... it even comes with listings with photos too many things to list.

The Manufacture home I currently live in is my 3rd purchase and in this one I actually took the time in reading every little document that was handed to me and the Real Estate Agent was actually impressed on how much I knew and how precise and kept everyone on track including talking to escrow / title... Well I am surely not saying I know as much as a realtor that is a fact that i don't! Plus you gave me a great list of things to look for and what it entitles to sell a FSBO. I did have the realtors pull some comps for me and they both gave me a different strategy and list price so Im still thinking about all of this.

Would it be a good Idea if I find a buyer and do an Owner Finance? to receive monthly cash flow? What are the pros and cons?

@Ryan D

I will look at that website when i get a chance.

@Jay Hinrichs

I did actually consider lowering the price about 4% than market value to accommodate the 5% realtor fees. I can tell you that the marker is actually slowing down in my neighborhood before i posted this forum so I may just wait because to sell after all if it doesn't pick up. A few other home have been sitting and are a bit over priced in my opinion. but if i market well low enough I think I will have the leg up on the other properties because my property is a bit more updated than most of the home on the market now...

Hard days of thinking hard lay ahead of me and I want to thank every one that has posten something.

Jose Tamayo Jr.

Thank you @Tony Morgan,

I will definitely call her tomorrow morning to speak to her in regards to the process and what her fee would be to help me out in the paperwork side of things and as for the listing and advertising part I shall take care of that via Forsalebyowner.com unless someone advices me not to? or is there a better way to get on all the major listing websites and the MLS?