All Forum Posts by: Jason Mak

@Jessica Zolotorofe

That's interesting.  I mostly look to purchase multifamily and commercial deals in the Los Angeles area between $5m-$10m - purchasing for myself and with my own funds, not wholesaling.  The buying competition for a decent property/location here is pretty intense.  If most sellers aren't receiving all cash they are asking for short contingencies, non-refundable deposits etc.

What types of creative financing and creative deal points have you seen in the Southern Califronia area? Would love to hear about some deals that you helped to close and the type of creative terms you were able to help your client obtain.  

Just curious with all the developers out there if "creative contingencies" are still available.  I'm in Southern California and for most property purchases, the most buyers get is a short due diligence and financing contingency - even for raw land!  In fact most time, you can't close on the property unless you offer cash.  So as I read and hear about creative deal structures, I can't help but wonder what geographic areas these are occurring in.  

@Chris Martin

That i don't know sorry, however from my guess is that 10 miles is not saturated for cell towers.  In my densely populated suburb they are less than 1 mile away from each other

There are tons of brokers for cell sites who can get you pointed in the right direction.  Typically the brokers want to buy out your lease once the cell tower is built and you are receiving rent from the carriers but in my experience some are also connected or have relationships with the carriers where they can attract someone to your property.  I probably wouldn't contact the carriers directly.  Maybe start with the tower companies and brokers.

i've had mixed experiences renting to "companies".  Most of the times it has worked out nicely but I once ran into a scam.  Since the company I rented to dissolved there was no one liable for damages and non-payment of rent.  Not saying it's a bad thing, but I would just take extra precaution, security deposit, and common sense.

I agree with @Matthew Paul it could be a good scenario where guys just come in town for work and leave on the weekend.  You might be able to get significantly more rent by furnishing the rooms too.

Lastly, I'd also be considerate of your neighbors too.  Is this a small street or neighborhood that would not take well to transients?

Hi Dee, you mentioned in the original post that you are using this card for investing and not for brokerage.  So I assume that you aren't using this business card to do brokerage business.

My opinion is to leave your photo off the card.  Most agents work for themselves or operate their own businesses so for them to have their picture on their card, it is fine.  An agent needs to sell themselves as being an individual to connect with their clients.

However, as an investor, you don't necessarily want to highlight that you are an individual, but rather a larger entity or organization.  

Lastly, I just think it is on the amateur side.  You don't find most of the big investors and developers with their pictures on their cards.  

Hi John!

I'm a long time BP user and multifamily investor.  I'm currently building my first project in the Los Angeles area (37 units).  

Personally, my experience with BP is that the forum is great for those looking to invest and flip single family homes or small to mid size apartment complex.  It hasn't been as good of a resource for land developers. 

I asked the same questions you are asking several years ago.  You can get many tidbits of information from the web but land development is so vast and non-formulaic that everything on the web was either contradicting or "to general".

Cliche to say but the best way would really be to get to know some local developers and ask to buy them lunch or a coffee to pick their brain.  Be up front with them and say that you want to learn from them and don't turn around and try to pitch them a deal or ask them to spend too much time looking at deals that you aren't too serious about.

@Account Closed nailed it!

Hi Javier,

My first deal was an 18 unit apartment but of course this was when you could still buy 18 units in Los Angeles for under 1 million dollars.  I've never seriously flipped a house before.

I think it is entirely doable.  Managing an apartment building is not much different from a residential single family house.  Maintenance is similiar and leases are similar.  Depending on your geography there are may be some legal differences but I reckon it won't be too much.  Otherwise, it all comes out down to finding good deals where the numbers pencil out.