All Forum Posts by: Jonathan Pflueger

@Maugno M.

We are here to grow and expand, but we are not (or should not) act, promote, or in any way shape or form condone turning a blind eye to what others are doing just because "it is not our business." This is the type of behavior that gives everyone involved in any sort of real estate a bad name. This is counter to the whole reason this website was created and @Joshua Dorkin vision. 

Ethics are important. Integrity is important. Holding people (investors) to a standard is important, and if history is an indicator of anything - "all it takes for evil to succeed is for good people to do nothing." Maybe I am being a bit melodramatic, but it is my opinion that attitudes "advocating to turn a blind eye" are not acceptable and not the type of business I want to interact with or be a part of in any way. 

@John Nachtigall

@Thomas Clark

Love the initiative, you have the right mindset Thomas! Have you ever thought about becoming a Realtor?  Granted, it costs some money but it's a great place to start and the upsides are huge. 

Similar to what you are talking about, some Realtors get paid to provide BPA's (Broker Price Opinion) - this is a really great way to learn how to evaluate a property and would get you the experience you currently lack. 

In this business, experience and relationships are everything. It's hard to get anyone to trust you without at least one of theses factors. 

@Paul Burrowes

There are a lot of sub-markets all around the Bay Area that are within your 50-mile distance criteria - you might look into those: Richmond, Oakland, Alameda etc.... Although, 50 miles is long way to commute into the city when you take into account traffic and the like. 

I am by not means an expert, but I have seen a lot of forum traffic around the new Ferry that is going into Richmond, this could be a good time to buy and you might be able to find a 4-plex that works. Make sure to connect with someone that really knows the area though (maybe a good agent) because there are some bad areas. 

Best of luck. 

The last one was great. Made a few connections and learned a lot. Will be seeing you there!

@Jim Webster

That is normal, I would definitely shop around! The answer is always no if you don't ask. 

@Jim Webster

I agree with @Caleb Heimsoth, there seems to be something else at play. If what you say is true about your DTI, you should be approved for a larger loan. Is the mortgage payment on your primary residence exorbitant?

I would get a second opinion. Talk to as many lenders, mortgage brokers, small banks, and family members as you need to. There are always options out there if you look hard enough. 

What do you think @Joe Stretch? 

@Ori Skloot

What parts of Richmond are you looking to invest in now? I am from the Santa Cruz area and have been looking into the East Bay for potential investing. Richmond seems like it is under-appreciated and over-looked but I don't have the feet on the ground experience to really gauge this. 

Numbers are numbers. What is your bottom line criteria for buying? Does this deal meet that criteria? I know that when I start trying to make a deal work, more often than not, I am just putting lipstick on a pig. Be careful you are not so desperate for a deal that you override your buying criteria or common sense. I don't know your market so take this at face value. Best of luck and stick with your buying criteria, that shouldn't leave you astray.

@Vamshi Ananth

This really depends on the relationship you have with the agent in question. If you are a known closer, have taken the time to foster relationships, and overall show that you are a serious buyer I would guess, that more often than not, agents will not be asking you to sign any agreement. Remember, this business we call Real Estate is relationship dependent.

This presents a conundrum when one is new to the game or has not built up any credibility yet. When this is the case, the barrier to entry is great and it is incumbent on the investor to find a way to build that relationship or reputation. The best way I did this was to attend local Real Estate Meetups in my area. I put myself out there over and over again and eventually started my own Real Estate Meetup which has been one of the best things I ever did to help with my networking and relationship building.

Even with my limited experience I have never had to sign a Buyers Representation Agreement. However, I already had relationships with the Realtors I worked with beforehand and that is what got me in door and to the top of their lists (or at least close to the top!). 

@Cory Melick

What every happened to this? Were you able to pull it off? Very interested to see what came of it.