All Forum Posts by: Logan Vierstra

I recently got my license so that I can gain access to MLS and lock boxes. Now that I am licensed I need a sponsoring broker, however I don't intend to work as an agent, I intend to grow my investing business. I am focused in the Sacramento area; Orangevale, Citrus Heights, Fair Oaks, Folsom.

Are there any brokers around that would like to talk? 

Just a note on finding ARV. A lot of people fall into the trap of finding 1 single comp that sold more than others in the area and using that comp to boost their average after repair value. While a house in the neighborhood that sold for a lot more than others means you might be able to get that much, it probably doesn't mean that. But you shouldn't have too hard of a time finding comps here in Sac. 

Feel free to PM me if you would like a little more guidance. 

P.s. Good work just getting out there and taking action! As you can see people are very willing to help when you make it obvious you're not just a tire kicker! 

@Joe Bertolino I'd love to come check that out! I'm working on a proposal right now for a guy with two duplexes next door to each other, each on a half acre, that we are exploring the option of building ADU's on.

I have a question regarding podcast 334. In there Brandon and Dave talk to Ben Lapidus about different negotiation tactics when talking to sellers about seller carry. In his metaphorical example he proposes to pay the seller a higher price, in exchange for a lower interest rate. Explaining to the seller that if they give him the lower interest rate, it would save him 1.5 million compared to what he would pay a bank, and he would pay them $600k more on the purchase price, also explaining that they would only pay 25% tax on principal as opposed to 30-40% tax on interest.

If I'm the seller, why would I want to take 75% of $600k, instead of 60% of $1.5 million?

Maybe his numbers were just off the cuff and I'm taking his example to literally, but I'm hoping someone can help me understand this strategy a little better. @Brandon Turner 

Okay that makes sense. 

I think it might be worth contacting whoever is the decision maker at this point to see if they have a plan, and if I sense some inner drama I could choose not to pursue it too hard. 

In this case its a duplex that I believe the son lives in one side of. I think the owner lived in one side until she moved into a home. I suppose that wouldn't change anything as far as what you mentioned. @Frank Chin

If I look into a home owner and find out they live in a assisted living facility, what should I do in that case? 

I've been emailing with the city and I've found out that the way these are zoned allows for each property to have 1 ADU built on each.

What kind of due diligence can I do before purchasing?

@Greg Dickerson

I have a growing stack of return to sender postcards from Orangevale, Citrus Heights, Folsom, Roseville, and Fair Oaks, California that I don't want to waste. 

I am looking to partner with someone who has the skills or systems in place already to skiptrace these leads and contact the owners. I would be happy with someone who can just set the appointment, but if you can close the deal and split it, I'm happy with that also. 

@Ricardo P. It might sound to crazy to be true, but so are a lot of the laws that California passes. (Statewide rent control, background checks for every citizen every time they want to buy ammo,... just to name a couple)

Thanks Dave! What's your take on it? 

@Dave Bloch