All Forum Posts by: Jim Keller

Don't be discouraged....  I would say we look at over 50 and sometimes 75 possible flip homes before buying.  I would suggest you locate your "buying area", drive the area and locate 25 possible investment properties you would like to own.  We focus on the obviously damaged properties when we do this.  Then go to a title company or Foreclosure Radar and locate the owners address.  Simply get to know these people, sooner or later they will wish to sell.  Its this simple, don't believe anyone that says differently.  When I say get to know I mean knock on their door "respectfully", send them thank you notes for talking to you, birthday cards, tips on other homes you find but don't want, How to 1031 exchange, anything you think would help them come to the conclusion that selling to you is a good idea.

One of my mentors uses the term "problems to profits" so just find a problem and profits are close.  I'm not saying to pray on them I'm saying fill a hole that they have.  If you help keep rich people in the lifestyle they have become used to you will become rich..... It's that simple.

Good Luck

Jim

Thanks for all the Views and PM's, the property has sold by one of our partners.  

We have other if any of you are interested.....

Jim

✓SS Approved at $420,000

Charming home on a quiet cul de sac. Model match right next door of has just closed escrow at $515,000 over this summer.

With a $25K rehab, this would be an ideal purchase for a buy and hold investor looking for a cash flowing rental home, or Air BnB style rental (link below), etc. Prime location right off of the 5 Fwy & Euclid St-- Perfect for commuters and just 8 minutes from Disneyland, The Anaheim Convention Center, and 12 minutes from Cal State Fullerton & Santa Ana College. 

https://www.airbnb.com/rooms/817045?s=22&user_id=24412453&ref_device_id=207f8880bca0a6bc

Call Hannah, the listing agent direct at (951)642-7236 to structure an offer for a quick approval. Start your 2016 with rental income!

-Hannah Keller

I'm very familiar with CC1695  and so should all investors and  escrow companies.  Big brother is watching us all, do the right thing and you will be protected.  All my equity buy out sellers understand that I'm doing it for a profit, and other buyers could and might pay more.  

Jim

 Brad

The way I purchase for the biggest discounts is by offering to purchase with no "escape clause" sellers know what your doing.  This is why i have built a team around me that helps with such unanswered condition, title, escrow, or law questions.  The purchase is where we make our money so it must be done properly.

If you do have a clause you need to put in the agreement there is a section labeled other terms on the C.A.R. RPA simply right the clause in that section.

I don't use the CAR form I like a simple 1 page agreement that my team and I have come up with, or I have even wrote an agreement on note book paper with some sellers.  I then have escrow do there instructions and close.

Good Luck

Jim

 I wondering what spicificelly your talking about when you say "make sure you know the rules"  That is the way to do anything in our industry I have always felt.  

That being said, I can think of no better way to get into the "industry" than through NOD's and NTS's. They have been around for years and will be for years to come. Align yourself with a good team, you do all the equity buy outs and let your realitor team member do the short sales. Plenty for everyone, good luck.

Jim

Sorry to hear your in this place I have been there before and it hurts.  You want them out focus on that, but plan for the worst.  I would set an oppontment with all of the "tenants"  tell them you are the new owner and ask them nicely if they didn't live there where would they live.  Then where ever they say tell them you would like to HELP THEM do that with a gift of $2,500.  We make it a habit of offering almost the most we would ever give.  We have had people cry in front of us just because they had no other plans and the money really helped them.

I tipicly tell them if they want to move forward and get the money they need to move in a mater of days.  If they dont want to do it or you feel like they never will I would tell them you have to confer with your partner and will come back with the best offer tommarrow.  Come back sweeten it by $250 or whatever you can if they don't agree sure them with a eviction notice.  If you have no experiance bring in a company to represent you and get them out.  

Good luck

Jim

Our Company sold a small none performing 18 unit apartment building in Cal City last year for under $23,000 per door. This deal turned out to be a little more than everyone involved was prepared for but in the end the buyer got a great price on the 18 units. Obtaining competent management was an issue, I have no confidence in the service personal in the local area. Its not like me to just make a sweeping statement like this but it was the hardest part of the transaction by far. If this was my first chance at making it big on small SFR's or mid size multi family I would take what I say to heart. I had the feeling as an outsider the locals have seen this many times before and they orchestrated most of the drama they pushed on our buyer. These deals are hard enough to control and having to deal with the "Hatfield's and McCoy's" was a huge distraction.

Good Luck

Jim

 Very true Joe

I have an associate that bought over 75 of those PIG'S in Hemet/ San Jacinto and paid on average 50 K for them.  He fixed and held on to them and has a very well thought out escape plan.  I have seen a few of his property's sell for as much as 185K in the last few months.  He will make over 5 million by the time he is done.  Timing is everything, and he had about 500k to start with but there is no doubt he cashed in.

The down town vib is good in the 92506 and even the 92504 there you pick up a little bit of collage rent from Cal Baptist Collage Also look at 92507 it has UC Riverside in the middle of it.

Call me anytime

Jim