All Forum Posts by: Peter Mckernan

Hey @John Todd

Welcome to BP! This site is great to do all that stuff, you’ll just have to put in the same work you did to find all your vendors for your first project into finding those good wholesalers in Orange County. 

In regards to using hard money for acquiring your flip, you'll need to find the property to tie the money to, so that the hard money company can run the numbers with you, confirm the ARV, and all expenses. Once the company does that, then they will fund your deal.

Inventory is low; however, like @Joe Homs, you can capitalize on flips in certain areas once you do your homework. 

@Account Closed

Hey, I am not too familiar with those listed above, but I am getting more familiar with the Houston area to invest since myself and a business partner found some deals out there. We have been working on making the numbers make sense, it just needs to have margins cover that increased property tax like you stated. 

The deals in those areas are better with returns compared to a lot of areas in California as you know.

Hey @David Rutledge

Welcome to the site!! This site is great and it sounds like you already see how valuable the site is for getting more knowledge on the topic. 

There are multiple real estate meet ups in the area for you to gain more knowledge at, so check  those out, and if you have any questions feel free to reach out! 

@Jamie Garcia

Some good options for finding the property owner(s) name and address that you have in question are a trusted real estate agent, property radar (online and monthly fee), and the county tax collector’s website. These can give you all the names and addresses for the property; however, to get the phone number you’ll have to dig a little deeper and use more resources.

To get the phone number you can use that trusted real estate agent to get you the information from a title rep, and that title rep will pull the information for you and get you the phone number. There are other resources online that will charge you for his information; however, you can get it by all those routes.

@Joshua Sclafani

It sounds like you have a lot of this drawn out, which is very good. I would say yes, being responsive to requests in a timely manner is key to success since land lording is a two way street. The more the tenant believes the owners are not doing their part the harder it is to get to an even playing field with them.

I have heard about Cozy, but never used it. I use Buildium.com, and I hear a lot of good things about Appfolio for bigger operations. I say keep consistent with Cozy and if you start to get into high rental property numbers you can move into a bigger and better platform. 

Smartmove is another great tool when you are starting out to use as a great credit and background check. These two are pivotal in getting a get responsible tenant into the property. 

@Carlton Francis

Welcome to the site Carlton! You moved to a great area and have a great set of skills in Web Dev, which you could utilize to gain relationships with investors building a new website, or rebuilding an existing website! These relationships could give you the opportunity to find a mentor, or even a couple of mentors.

Your skills could help you in making a great page to bring future customers to when you find the specific niche of real estate that you want to dive into. That could be the wholesaling model, or anything else out there. 

Good luck!!! 

This is good information! For the longest time until I got into real estate investing, and once I became an agent I had not realized that high-end properties sit on the market for so long. One big thing to take into consideration when looking to perform a high-end flip.

Thanks! @Jo-Ann Lapin

Hello @Danyel Tiefenbacher

Welcome to the site!!! By the sounds of it you are off to a great start in investing!! How are those section 8 tenants working? Have you found section 8 to be a good thing, or has their been some headaches? 

Hey @Stan Esperon

Those are good reasons. I know that areas close to the resorts are the best, Sugar Loaf as an example. I would stay away from getting something so far away (i.e. Baldwin Lake, Fawnskin).

Those are some thoughts and some tips to stay close to capitalize on the weekend, or summer vacationer. 

@Stan Esperon

Welcome to the site! The BP website as you commented on is very helpful and the meetups are another source of information that is very good to grow your knowledge of real estate investing! 

Those are some interesting areas to invest, what was the thought process on those areas that made you decide to invest there? The area that you mentioned that I have the best knowledge in is Big Bear, that area would have a big upside if you invested in a cabin and used it for Airbnb rentals. That would be huge!! 

Good luck and I hope all goes well!