All Forum Posts by: Jim Keller

Bryan

I was a 24 yr Corona resident and know the Inland Empire very well, with that said Rudy was kind to talk about the Inland Empire Real Estate Club that's meets at the Mission Inn every 3rd Wed. of the month.  I have learned a lot there and just keep learning and meeting new people.

This is the most importaint part,the people and connections. At the last meeting one of the regulars introduced me to a friend that came to the meeting to wholesale a deal. To make a short story of it I now have a 4/2 1465 sq ft for $172,500 this home is a few 100 yards from LA Sierra high school and the ARV is well over 300k

I never would have found this deal on my own, total off market deal.  These are the kind of deals that give you a ton of freedom, or the ability to do this full time.  Meetup is a great place to start, or give me a call I'm always looking for like minded people to keep me on the right path.

All this happy talk........ I work may tail off looking for just the right deal.  Found a guy last week selling his mother's home after her death.  He asked if I would pay 125k, I told him I would pay 150k plus 5k for his family's  cost. He is over the moon for the extra cash and the 5k I released when he signed the agreement for his expences, 2 weeks before our escrow closes

Now the facts..... it will be a minumum rehab maybe 30K and I will sell this home for 335k have I done "WRONG" in the eyes of real estate "educators"  the extra 30K is "preditory" please help me..... I guess I just don't know what I'm doing.  

I operate within the consumer laws and the sellers have the same responsible to understand there rights.  The best thing that ever happened to the major banks was the 25 billion dollar settlement of 5 yrs ago.  They had lawyer after lawyer manuvering for them and the consumer got screwed.  By the way Bill Gates would love to pay $50,000 for his accout in services

Brian we don't have to "poke the bear" it will starve itself the way he is going. 

 Jay

I never pass up one of your post always good and on point.  It amazes me when some yahoo argues with you...... always fun to read. 

I wanted to add that in the Riverside, Ca area not just desert area but in the heart of the city there are many 150k deals to be had.  I have done 5 deals this yr under 180 and 2 of those were under 155k. Keep the good advise coming and have a great Thanksgiving.

Jim

Annette 

I'm 51 yo and dreamed of real estate success since I was 14, 15, even 16 for whatever reason I didn't start in real estate until I was in my late 30's.  Even then I worked for a huge home builder and then a resale company, it's important to me you hear I was working in the industry but not an investor.

About 3 years ago I was asked to sell great 22 unit bulding for a seller $500,000 upside down. We successfully negotiated the short sale but in the end I was out smarter by the buyer/investor and they didn't perform and saved 100k at the trustee sale cutting me out of a 60k commission.

That was the day I understood I had to be in better control of my business. You call it understanding your "visionary" ability "how your difforent from others".  I have always felt the same way.  Don't liston to the nay sayers, be a visionary truly. 

It's Thanksgiving morning my wife looks over at me and smiles she know typing like this to you and others puts me in my happy place. We have 5 deals we are working on right now, trying to close before the end of the year.  I can think of many reasons why we won't be successful, for me I would rather tell you and other like mined people how I'm going to do it.

My advise is to find 3 to 5 good "INVESTOR" types and share all your situations with them. Most pros like I'm talking about will have 2 to 7 difforent ways to complete what your trying to do.  If they dont help you, find another mentor, it's that simple.  I have 2 lender friends name Todd and Stephen, investors name Ron and Andy, a good friend named Stan even my wife has come around...... I'm THANKFUL for them all

Your welcome to call me anytime I would be honored to be on your list.

Jim

Funny how things work out.... 

I ended up not getting a comment for the money, really because it just sorta lost steam. But just today I found a new property and got a 205k comment from him.   A member of my team and I went to the Inland Empire Real Estate Club at the Mission Inn in Riverside, Ca and I found a seller of a great new investment.

Good hunting folks there is plenty of money out there and plenty of investments,  We just have to get get them.  My first post on this was last April, 8 months later this money partner is funding 100% of the deal and I'm giving him half the profit .  We take the other half with just zero cash in the deal. 

What a country :)

Good luck 

Jim

Hi all,

Tonight @6:30 at the Mission Inn out in Riverside the Inland Empire real estate club will be hosting Bruce and Aaron Norris everyone should attend.  There will be many investors looking for people to work with.  I will be there please come up and introduce yourself. 

Jim

I would never argue with 42 years of experience, but failure is good.  Fail foreword..... is not just some stupid catch phrase, its real.  I have had some nice ultra "experienced" investor friends/family that forgot how failure got them to the next huge place in their life.  I can think of many ways to create income, even wealth with very little cash in today's market but the experience that allows me to see and understand these systems is the success and failure of the past.

There is 100's even 1000's of ways to make money in the affiliated real estate markets available to all of us.  The fact is going outside of my local market is something I just don't have time for.  There are just to many deals literally with in walking distance from my home "well with in a mile or so". Today I made an offer on a home down the street, the owner put a sign on it them self. shame on me, "the area expert" and i didn't even know they wanted to sell.  There are more deals in our back yards than we could ever do in a year,  Let's all go get them.

Jim

Karim

A few weeks ago I put a nice home in Anaheim, Ca under contract for just $10,000 and a promise to pay $1,000 per month for a period of time as well as take over their existing loan.  This is something I have been researching and don't recommend you just do it on a whim.  It does happen everyday though, San Pedro is a market I work personally and have been on appointments to negotiate an "equity purchase" before.  I like working notice of defaults and trustee auctions, when you contact this type of client it will only be a mater of time before you find a seller with just enough equity to sell to you so you "fix" their problem.

Good Luck 

Jim

Hi all! 

Here is the marketing video we had done for the Mobile Home we flipped in Menifee, Ca. The construction was very different from a conventional home, and it took about an extra 3 weeks to complete.  I think all of you will like what we finished with, and the best news is, after just 5 days we have it in escrow as of last Friday.

www.31365pleasantvalley.com

 @Stephen McKee @Ben Andrews@Joe 

Don't give up Pete, I incurrage you to focus on finding an investor that is having success in your market.  One can be found by attending a "Meetup" look for the app at your app store.  One you find a mentor work for just the experience, do exactly what he/she says to do.  Most investors will welcome a little bit of cash help that you may be able to provide them in the closing of the deal they help you find for them.  If you can make like $5,000 on a small $20,000 investment working on a deal from the start to the finish with a proven investor, how can you loose.

Once you learn the real inside scope not only will you have a great investor partner.  You will have a new business plan to master, then just add another and another.

Good luck

Jim