All Forum Posts by: Nick Hedberg

@Christian Wathne - Watching the bank account drain is PAINFUL! However your a smart guy and I know you'll make the right decision. What I've seen work the best is a great closet system for the master. Spend your money there and get something basic for the others.

$65 for that kit looks like a steal! It looks like you can get a 'great' closet system and steal for all 3. Sounds like a win-win.

Keep hammering!

@Allan Ramos - I work out of the Keller Williams in Silicon Beach (Marina Del Rey). We have quite a few part-time agents and the fee structure is really beneficial for new or part time agents. We also have quite a few investors, big teams, commercial agents and a TON of free classes.

If you have any questions let me know and I can arrange an introduction with our manager.

@Art Ritter - LOL! Knock in the Hollywood Hills and you can probably get all kinds of 'illicit substances'. Probably easier to get then houses! I just hit 63 doors today and only 1 possibly buyer referral.

@Chris V. - If you want to do buy and holds through an agent then don't worry about it. If you want to find deals yourself then you might want consider going that route. You can spend a lot of $$ on marketing which takes a long time, but is great leverage of your time. The more aggressive option is to cold call and door knock. It will save you a lot of money but it takes a lot of time and effort. It's a great character building experience! I don't have a sales background so it was really tough for me in the beginning. The first day I went door knocking (with my mentor), my palms were sweaty and I was incredibly nervous and absolutely terrified of the rejection. 1000s of doors later I knock with a smile on my face looking forward to help solve someone's problem.

I would see the property before putting it under contract. The interior could be pristine or could have water damage and be covered in mold. I completely understand your impetus to lock it down quickly, but I would tell her you are willing to come to her to pickup the keys.

If she won't let you see it, I would make sure your offer is 'subject to interior inspection'. That way you'll have an out in case you find something once you inspect it.

@Chris V. - @Nick C. is correct. Most 'cash' buyers are using OPM - Other People's Money. That is either hard money or private money and not conventional loans that take 30 days to close with financing and appraisal contingencies.

@James Palassis - I'm game if you bring the cash! Come on over to LA and we can find some buyers!

If anyone wants to literally bring cash to someone's house to give them an offer in the Los Angeles area, I'll gladly door knock with you! I door knock 600 - 1000 houses a month. I wouldn't mind doing targeted door knocking on some Notice of Sales where the house is getting close to auction. I can pull the list and you bring the cash!

I call pre-foreclosures 4 times a week and it's a numbers game. You need to talk to quite a few before you can expect results. Many either pay off the debts or do a loan modification and restructure the debt so the house doesn't get foreclosed on. Since Los Angeles is appreciating most people have equity to refinance and save their house. 

When calling them I am straightforward and honest. I tell them I'm an agent and offer them a backup plan in case they need to sell their house. I have investors that can provide them cash offers or I can help them get top dollar by listing it on the MLS.

It's worth a try to give them a call or door knock. You might get lucky and land a deal! Tell them you want to buy their house for cash and see where it takes you.

I'm not a flipper, but I work with quite a few. Many have a minimum profit target of $20k - $30k if it's a smaller flip (PP $250-$450 range). Returns are getting pretty thin and many flippers are adding square footage to get the numbers to work. Some are going into rougher areas looking for deals.

Input from @Shawn Ward on his flips would be great. 

I have some residential clients that are looking to purchase in Hawthorne and I like most of Hawthorne. There are some pockets nears the main streets that aren't as nice, but the Del Aire area is great and Wiseburn school district is fantastic. I've done quite a bit of door knocking to find off market deals for my clients and some streets are really hot.

I think prices are going to keep going up in Hawthorne since it's relatively affordable and has some great neighborhoods.

I would look at your comps and the similar actives on the market. If they all have new windows then you would be at a disadvantage if you don't replace them. 

Contacting FSBO (For Sale by Owner) properties would be a good way to start. However since it's a HOT seller's market for multis they might be less then receptive. However it doesn't mean you can't try. You can structure a sample deal and show the tax benefits of owner financing with your offer.