All Forum Posts by: Robert Reynolds

Come check out our client's flip in Culver City! Philip Hernandez (The Educated Investor) from BiggerPockets episode 708 and his partner Contractor Jon Wood found a gem in this property and come to find out how they are maximizing it's potential.

Philip was personally introduced to me by David Greene at our last meetup. Philip was about to record an episode of BiggerPocket with David and Rob the next day and was looking for an investor friendly agent that knew the LA market. Later that same week we identified a great property and shortly after we locked it up. Come and learn about how we found it, how they funded it and how they are now fixing it. There are only a handful of strategies that still work out in SoCal in this current market, so this meetup is a must attend for anyone looking to make money in Real Estate in SoCal.

RSVP on Meetup.com https://www.meetup.com/the-david-greene-team-los-angeles-rea...

I look forward to meeting everyone and seeing some familiar faces from our past meetups. 

Please call/text or email me with any questions. 

Robert Reynolds 

310-720-1057

[email protected]

Hi Natalie, 

I'd start investing where you live, especially if you are currently renting. House Hacking and Live In Flips are the best way to start in SoCal and growing that wealth. Please reach out if you'd like to talk further. 

Hi Rahnesha,

I wouldn't choose FHA or Conventional based on FHA required repairs. You won't know until after appraisal if they are even called out. I would probably lean towards saving money without the FHA and ask for credits or repairs either way. On your initial offer did you say you were going with a FHA or conventional loan? If you switch it mid-escrow, the seller could back out, especially if you are going from Conventional to an FHA. As a listing agent I wouldn't allow that to happen, especially in this market where there are usually multiple offers on every property. I listed a house today, and literally got an offer in my inbox 6 hrs later, over asking, when offers aren't due until Tuesday. Let me know if you have any questions, always available to help, but your agent and lender should be able to advise you best. Good luck and lock it up if you really like it. Trust me, in 5-10 years, you won't be even thinking about the $5,800 difference. When I bought my house 8 years ago, I thought I maybe overpaid by like $25k. $900k later in appreciation, I don't even care at all if I might have slightly overpaid at the time. The scarier thing would have been if I missed out and waited a few years, and had to pay $100-$200k more.

Hi Nancy,

Sorry for your loss and now for all trouble you are being put through. I work with several flippers that may be interested. Is the house currently on the market? Would love to help however I can. 

Please reach out if you need anything. 

Take Care, 
Robert Reynolds

Hi Erin, 

I have several clients that have put 40% or more down. Some buy straight cash and keep it in. It all depends on your goals and level of risk. Everyone has their own situations and it's important to feel comfortable and confident and come from a position of strength when investing. 

Where are you looking to buy a STR? I love that you are being bold when so many are scared right now. It's usually those people that find success. For example last year everyone stopped buying flips because they didn't know what would happen with housing prices. I have several clients that bought anyways, and they found success this year when the market prices increased this year and there was so supply. So they had multiple offers and got more than they thought they would on the sale.

I wish you luck and please let me know if you need anything. 

Hi Ken, 

Welcome to the community. Cash flow in SoCal is really hard to come by, but the appreciation should be pretty amazing and then it will eventually cash flow as rents catch up. Please reach out if you'd like to talk further. 

I would recommend doing a mini split! Your tenant will appreciate it for those hot days or cold nights. You may even get by with a window unit if you are really tight on money. It would all depend on where the home is located and the expectation of tenants for that part of the city. 

DSCR if it works, is my first thought. But I would recommend talking with a loan broker. I'm assuming this is an out of state deal, so make sure to have your team in place before really attacking this one. It's important to have a great contractor if you aren't doing the work yourself. They can make or break any deal. Let me know if you need any referall's for lenders. Would love to help in any way possible Walter.

Samuel, welcome to the forums. I recommend attending meetups and focusing on building a solid financial foundation, so that you can invest in real estate and build generational wealth. It's awesome that you are so young, and time will be your best friend. I recommend the book Set for Life and David's new one Pillars. Hope to see you at upcoming meetups, and let me know if you need anything. Always here to help.