All Forum Posts by: Simon C.
Simon C. has started 5 posts and replied 68 times.
Post: Yorba Linda/Brea, CA Meet Up
- CA
- Posts 71
- Votes 18
@Adam Kim is interested in joining our meetup as well!
Post: Yorba Linda/Brea, CA Meet Up
- CA
- Posts 71
- Votes 18
Hi Everyone! Just to echo what @Joshua Davies posted, it will be nice if we can have a local meet up with Bigger Pockets members. It will be nice to meet everyone who is local around here!
@Joshua Davies thanks for posting this up. This is exciting. I'm going to reach out to some of real estate investors who are not part of the Bigger Pockets community to see if they are interested in joining.
@Todd Olivas Hi Todd! Looking forward to connect with you in the near future!
Post: Investors in Brea / Yorba Linda, CA
- CA
- Posts 71
- Votes 18
@Jo-Ann Lapin thanks! Yes, I plan on attending the NOCREI Meeting in Anaheim. First time attending such meet, not sure what I will be expecting but will great opportunity to network with other local investors.
@Joshua Davies Hi Joshua. Thanks for reaching out. Most definitely. I'll send you a message so we can connect.
Post: Investors in Brea / Yorba Linda, CA
- CA
- Posts 71
- Votes 18
Any investors who are from Brea/Yorba Linda area and interested in grabbing a coffee and connecting to talk about real estate investing?
Good idea on dropping the wife and kid at 3rd street. I think I can do the same over here and they won't have a problem with it - they might even thank me. I'll like to attend one of Jeff's meetup one day as well. How's the syndicated deals in bay area? It appears they have a very strong market and demand.
Let's connect when you have the time - over the phone, for coffee, or for lunch.
@Nemo Patel Understand and agree where you are coming from. I think after you get a chance to research what it is and how it can help grow your portfolio investment, you will be interested. Let me know if you have any questions
Hi Nemo. I'm in a very similar situation like yours as I live in Orange County and quickly realize that a lot of cash/equity is required to have even any type of reasonable monthly cash flow for SFR. I do have 2 SFR in the Inland Empire, but I got those ~6 years ago when prices were still low. Still, I believe I could have done better when cash flow is the goal.
Have you considered investing passively on syndicated deals?
Hi Jackson. I really like your post and response about upfront capital required in the SGV. Great advice on educating yourself and finding a mentor. There's tons of information on BP. To this point, do you have any experience/recommendations on how new investors can find and connect with mentors who have the same/similar alignment?
Post: Regarding Syndicator and Credibility
- CA
- Posts 71
- Votes 18
Originally posted by @Account Closed:
@Andrew Choi some of my first time investors will ask for a list of up to 6 investors that have previously invested in some of my deals. They call those investors and some have even gone as far as asking those investors for their references or for the contacts of other investors they know that have worked with me in the past. They take that extra step to make sure that I am not just giving them phony references.
It's also important to ask for the list of projects that they have completed in the last 24-36 months. Go visit those projects, many are happy to give you a tour of existing properties. Also speak to the banks involved in those deals.
One last and often overlooked but super important step is to conduct criminal background check as well as run the credit report. You're not looking for minor violations, what you're interested in is any fraud related records, bankruptcies or signs of financial distress.
Best of Luck!
I'm curious regarding the criminal and credit check. I'm assuming the syndicator needs to provide its SSN for investors to perform their check. How comfortable is the syndicator when it comes to providing their SSN to investors?