All Forum Posts by: Paul Merriwether

Interesting comments. I'm currently reviewing their PinPointProfits program. Cost during webinar

is $1497 ... then $97/mth after 6 months. Before doing anything I always check with ALEXA (dot) com 

to see the amount of traffic the site is receiving. As of today it's rated at approx 65,000 from the top 

with Google being #1. resimpli was one of the comments above that was negative on Connected. 

I check Alexa for his traffic ... that site is 5 million from the top!!! My point ... negative comments can cost

you SERIOUS MONEY by being afraid to take a chance!!! The first thing to do is ALWAYS check online traffic

on Alexa. Then see if they offer a refund offer. If they have a refund offer you only need to abide by the offer

as part of your due diligence in purchasing or after purchase. Also screen shot the refund offer & save. Use

a CREDIT CARD not a debt card!!! Your credit card will help should you not get the refund, show your screen shot. 

Read ALL THE TERMS & CONDITIONS!!! In the current offer ... yes I'm skeptical ... yet the offer says 3 days to cancel!!

Oh, I found this post from their terms & conditions about Deal Dog, then I googled and found this post. 

From all I've read in this post and my research online Wholesaling in CA is LEGAL!!! 

The caveat is what the contract states and in my mind above ALL ELSE what have you

said verbally ... how have you acted in your acquisition / performance as a wholesaler.   

Have you acted in a manner that others thought you were a real estate agent or broker? 

Have you unknowing given legal, financial, mortgage, tax advice? What does your business

card, website, answering service say? Have you covered all your bases. Do you have E&O?

If you don't know what that stands for .. you are in trouble!!! 

Resource:  Google wholesaling in California some lawyers give good advice as has some on

post. 

DON'T DO IT!!!! You are asking for trouble!!! She has the most to lose. in CA ADU's cannot be sold separate from the primary unit. It would be better to buy a property together vs a strange partnership & the LLC. You'll end up on Judge Judy!!! Consult a real estate attorney!!! Good luck!!!

He Lex ... Yes our CA market is TOUGH in terms of investing with limited funds!!! 

As Jeff, mentioned it's about your goals. Yet, if you're like most CA's you want to make MONEY!!!

That's a great starting point. In CA from my experience over the last 40's making money from 

rentals in today's world is TOUGH!!! Taxes at 1.5% means a hefty tax each month on top of the 

note, maintenance and other expenses and will you manage it or outsource the property. 

Think out of the box ... today I happened upon a webinar where you can start earning from as little as

$1. Hard to believe until you know the details.  It's based on judgement's tied to real estate. The company

has several options where you learn how to do it or find them and pass the leads on to them and they do 'the hard work of collecting on them and buying them from the credit holders. Then they'll split profits with you on a percentage. Virtually no risk, thus your $50-$60k is safe!!! :)  Learn, earn, then eventually if you still have the desire to own multiple units move in that direction. Tying your money up now in a property puts it all at risk in CA or another state with small returns. Wholesaling real estate might be a better starting plan or the judgement option tied to real estate. 

I earn nothing for passing on this info ... I'm just excited to share what makes a lot of sense to me with virtually no risk or

major expense just your investment of time. Yes, there was a cost it was $2k ... dropped to $995 with a money back offer. 

A no brainer. 

Wishing you continued success!!! 

Paul 

@Aaron Hall If you posted the address of the property members could access it on google maps. Someone could provide a solution that could increase the properties value you might not have thought about. The best to you!!! 

CASH FLOW IS OVER RATED IMO!!!  I haven't been active in real estate for some time. Yet, when I owned properties in the Bay Area from 1980 - 2011 I NEVER had positive cash flow!!! Property appreciation was key and still is IMO!!! I look back over the homes I owned, lost or failed to purchase they all have increased in value by approx 6%/yr!!! My grandmothers old home which my brother owned in the 90's for $65,000 and lost to foreclosure recently sold for $970,000. 

Yes Bay Area property is EXPENSIVE ... so what can be done??? ADU's!!! ( accessory dwelling units)!!! My neighbor recently converted her 200 sqft garage to an ADU that now rents for $1700/mth. That's serious cash flow. Point being she can sell and make a HUGE profit in the hundreds of thousands of dollars.

A home in Modesto much further out of the Bay Area was on Hubzu and recently sold for $206,000. It had a large back year. An ADU there would add at a min of $1500 in cash flow. So if the original home PITI was $1400/mth and now you're pulling in $1500 from the ADU you have no note and $100 positive. You think a buyer might buy that home for $400,000??? Their note with 10% down would be approx $2500/mth - $1500 income = $1000 PITI !!!!!

You invested say $50,000 (financed) to create the ADU. Your total cost was $210,000 home purchase + $50,000 ADU = $260,000. Sell for $400,000 x 6% commission = $24,000. Net = $376,000 - 260,000 = $116,000 profit!!!! WHO CARES ABOUT CASH FLOW when you can create WEALTH!!!

This can be done in any area that is experiencing a housing shortage. Google ADU's and see what you get.

Aaron, your MF with poor cash flow. What can you do to it to increase cash flow? Can you add a unit? Upgrade something? OR dump that SUCKER and take a loss and move on!!!! :)  Cash flow IMO is NOT a major deal when you can create wealth by thinking out of the box on what you are purchasing. What can I do to this property that will increase it's value in a short amount of time. I recently learned owning 5 units & more is the key. The value is now based on a commercial bases vs an appraisal of similar properties in the area. 

DUMP that SUCKER!!! Start a new vs experiencing a maintenance issue like a sewer line failure costing you thousands of dollars. What is your cash flow now??? :) 

Good Luck

realtytrac.com, foreclosure.com, zillow.com 

Contact a real estate attorney to draw up the paper work having the buyer pay all the costs of the transaction. Real estate agents have NO CLUE as to what is correct and legal!!! They are NOT lawyers nor should they be giving any kind of legal advice. Doing it without an attorney you'll always be nervous if it was done properly!!! 

ADU's in CA are a god send!!! The key is controlling the cost of the new unit. Being able to get anywhere from $1000 - $2500 or more extra/mth is FABULOUS CASH FLOW!!! Imagine putting that home up for sale with the new buyer receiving that cashflow monthly!!! Purchase a shipping container for under $5000 and convert it. The options are almost unlimited!!!

@Account Closed I live in Oakland, IMO it appears you OVERPAID to build that unit!!! It's not the appraisal that is the problem, if you built a 1200 sqft unit it was @ $250/sqft vs $150 or even your own labor. My neighbor converted her 200 sqft garage to an ADU. She gets $1700/mth!!! I'm looking to convert my 700 sqft garage, I'll do the work. :) :) Over improving has always been an issue in real estate by home owners.