All Forum Posts by: Mehran K.

I did my first (and only so far) flip last year. We purchased the property through Auction.com. It turned out to be a success and netted about $8k after everything was said and done.

You mentioned "a deal like this with limited cash on hand." Does this mean that you don't have the funds to purchase the property in cash and fund the rehab? If so, two options would be finding a money partner or a hard money lender to possibly help fund the deal. Much due diligence and education is required before moving forward with those two options as there is risk and they'll want to know that you know what you're doing.

Hope that helps!

Welcome to the site @Brittani Miller, thanks for introducing yourself! I would highly recommend giving a listen to all the BiggerPockets Podcasts as you can learn A LOT from them.

Also I really like @Ben Leybovich's Cash Flow Freedom University. But even then, you'll still learn the most by being active on the forums as you're learning from other sources.

Amen! Happy Mother's Day!

Hey there @Cesar Garcia! Welcome to the site and thanks for introducing yourself. It's great to have another CA member here.

If you haven't already, be sure to check out the BiggerPockets Podcasts

See you around the site!

@Ron Karr

 Still operating in WI and nope, not operating here in LA!

Thanks for the mention @Account Closed I live in CA and only invest out of state. CA dollars go a long way in other markets :) Check out the podcast interview I did with BP (below my post) and let me know what you think!

@Anja Brey I have had some success by partnering with another investor on the ground in my target market. Things will be a lot more "personable" than working with a bigger operation. I like that! The key is finding the right person on the ground that works well with you and is very capable.

@Rob Cee I'll likely pay off some short term loans (2nd's and private notes). I'll look into buying more properties as well. I think home prices my increase a little bit more as lending guidelines are continuing to loosen. I just don't want to be caught timing something and have it fall out from under me. 

@Matt R. Too many homes on Airbnb for too little a day. I don't want to deal with the hassle factor either. Too many different things going on right now to develop all these new systems to run a successful vrbo/airbnb spot. Interesting idea though!

Thought I would throw in the C.A.R. California Status report for March 2015. For those interested in the CA market. Some broad information here: C.A.R. March 2015 Report.

Some deeper underlying info: (good reads for the LA area)

66% Of First Time Home-buyers Using HIGH leverage mortgages

EPI Report: Most Angelinos struggle w/ monthly budget expenses.

Things could seem hot based on sales and prices. However, with a bad foundation behind it, it's a sign of possible woes to come. 

@Joseph M. I am likely selling my house within the next few months. I used a HELOC to acquire many cash flow properties in another market. I feel like the ratio of my house related expenses compared to my w-2 income is too high. I'm going to sell, pay off my HELOC and some other loans, cash out the rest of my equity, lower my monthly expenses, and embrace being more mobile :)

I've used HELOCs and partnerships!