All Forum Posts by: Leland S.

Hi - My first house offer coming up soon. It's a trust owned property passed on by deceased parents to their children. The house needs a real good inside/out cosmetic update, maybe some walls modified etc. Property is in Nashville TN area. They are asking 210k but the tax assessment value is 166k. It looks like other properties on the same street that are more modern interior (not fully updated) are selling at $128/sqft to $173/sqft for a more updated interior except outdated kitchen and bathrooms. I was thinking of offering 170k which matches cost/sqft of two other units that I mentioned before, little more updated. I'm assuming I can sell it for $250k after a good repair. I feel like i'm pulling numbers out my backside and don't want to get shafted. What's the best approach to get the best deal? BTW - the unit is located in a high risk flood zone. Flood insurance is required. 

Hi, I've been interested in RE for some time now. I think my best place for now is to start in Hard Money Lending. With my busy work schedule I just haven't had time to figure out what or where to buy, and since I live in the bay area, I find myself priced out of buying anything and don't expect there to be deals. Also, I've spent so much money in the stock market without good returns, I'd much rather be investing in physical things that have value.

 Absolutely, I'll PM you!

 Hi Mike,

Can you explain that method? I haven't heard of this. You mean paying to advertise for someone and earn profits on leads?

Hi - 

I've been listening to the podcasts for almost a year now and listening to recommended audio books on investing and wealth building. My past investing has been purely in high risk derivatives for the last 10 years which hasn't panned out well at all. After realizing the market is essentially gambling, I started looking to real estate as I love the idea of having my money in something physical and real. 

With all these options to invest I'm really not sure what is for me or even affordable. I'm interested in many different types of investing, but was always put off to buying homes since I live in Silicon Valley and I figured I couldn't afford it. So I'd like to work with someone as a mentee to see how they do it and get involved however I can. 

I currently live in Mountain View CA as an engineering contractor for an aerospace/defense company. I have about 12 years experience with a BS in Electrical Engineering and a Masters in Systems Engineering. 

I'm open to working with people outside this area, the west coast would be best, but certainly would love to see how people are making money in this crazy market here currently. 

Please direct message me if you feel we could benefit each other!

Thanks

Leland

Any recommendations on where to get a commercial investing loan?

Hi - after reading up on residential investing, I really like the looks of commercial investing. I found some interesting properties on zillow that have tenants and cash flow. I contacted one of the agents who said the I need 30% up front for those deals. Sounds reasonable. For example there was a gas station that had nice income. I would definitely need private financing to cover the 30% down until the cash flow started pay down the loan. 

Any tips on a good way to start in commcerial? Where to look? What numbers I should be looking at for a good investment? 

Hi All,

I'm new to this forum and new to real estate investing. I haven't purchased anything yet... I live in CA where prices are exorbitant. I had some realtors send me some potential investment homes (multiplexes) for rent in LA in my price range (600k) but they all looked trashy. I also have family in Texas where I was considering buying for rent. I don't have a lot of cash, maybe 20k to start. 

My question is, should I go for cash flow, long term equity, renting multiplexes? I'm struggling with what should be my target.