All Forum Posts by: Jim Keller

Chad,

Jay dosnt need me to fight his battles so I wont.  I will say I have learned many things from his posting, and would recommend you take a difforent approach to what you do. 1500+ offers with little or nothing to show for is typically not a great result. 

I bet someone like Jay with the years of experiance and hundreds if not thousand + closings he has, he may have a good idea to help you.

Good luck

Ever gone out with your family and see drunk and obnoxious kids, or a husband out of control and you look at your own kids and say wow what a mess, or think to yourself do I ever get that out of control when I'm the upset husband ?  I think to some extent we have all been there.  In situations like this it's easy to see the high road, and that path almost reveals its self effortlessly.  This is something we all have in us, and as we mature these thing become second nature.

I come on BP all the time and like all of us I'm always looking for the next deal.  Reading all of the bashing of wholesalers I'm wondering why would a "wholesaler" subject themselves to looking foolishly with the wrong numbers.  These situations always have a way of working out for the good or bad.  I'm becoming a very good negotiator with them and will not be so anxious to close on just any deal for now on.

It is incumbent on all of us to learn our business better than the people we are buying from. Any real advantage you have in negotiating great terms on your next Flip, or buy and hold will be gained by solving a problem or capitalizing on some unknown attribute of the subject property.  Its not some person that found a deal's responsibility to lead us to a $50,000 pay day or $2,500 per month in positive cash flow off a $8,000 investment.  It's our job as an investor to complete our due dillagents and to the best of our ability carve out a even better outcome than some wholesaler is offering us.

This week I was lucky enough to walk a flip home with friends that I am sure many very smart people passed on it. I saw a top level contractor give a 14 million ARV project life. This happens every day in our business, on this project the 3 principles could see as much as 1.5 million dollars come to them. It was like art watching it get pounded out, Investor, contractor, and banker doing what they do best. No arguments about how wholesalers are bad or how there are no deals out there just hard work and turning problems into profits.

I know this is a rant but I'm bringing this back to the drunk kids or the bad husband.  We all know this type of behavior is wrong kids should behave and husbands should be kind and loving to there wives and family's.  They/we should raise our performance/behavior  to the highest levels we can.  This rise will give us all something good like respect, money, happiness, love, even new business partners with wholesalers you never thought you would deal with.  

Raise your game, your attitude, your investor intelligent's and you will prosper beyond your wildest imagination

Good Luck

Jim

Hi Serena

I have been focusing on homes close to the medium home price.  We have deals in Anaheim, Ca, Menifee,Ca., and Riverside, Ca. All 3 are very close to that mid number and all 16 of my deals this year closed escrow within 109 days or better a couple under 90.  The biggest reason for the fast sales are the price we sold them for.  

I believe this is the most importaint part of locating your farm, I have read the saying "begin with the end in mind" this is why we have the enteance and exit plan set as the biggest part of all choices I make when it comes to anything.

Make this easy how much can you buy, how much can you sell for.  When you locate properties that fit this model you will locate your farm.  

Good luck

Jim

Hi Joe 

I was out at the mobile home flip I have going in Menifee, Ca and thought  you may like to see the new pics..... no new BBQ or deck yet but we have hauled 10 tons of trash off the site and it's starting to show.  We are hoping to have the drywall completed by mid next week and then on to cabinets  and finish carpentry.  Have a good week and talk to you soon.

In the living room looking into the new kitchen and new bedroom.  The arch and opening is being consolidated to one large opening.

Here is the new bedroom we cut out a few Sq ft from the kitchen and 1/3 of the livingroom.

Not to be an A hole but "instant" and "Empire" should never be in the same sentence.  There is more deals than you could ever believe out there just have to dig them up.  I get Rob's email every morning, some new thing that only the 10,000 people he has sent it to know about it.  I just have zero fath in anyone but myself when it comes to my own winning stratugy.  

Been on bigger pockets for over a year and read many success story's it would be nice to hear how you just took it by the horns and made it happen.  Stop waiting for others, time is now for you to act.  Chad new construction has a place in vurtually every market I have seen homes, appartments, and commercial buildings going up in all market conditions. Can't wait to see what you end up doing,  tell us all, we believe in you make it happen.

Thanks Tim

Things are never what they seem, I don't have a huge problem with the big EMD just was a shock. I'm a big fan of eliminating tire kickers, please feel free to send me anything you have in Southern California.

Have a great week

Jim

 [email protected] is my email I'm always looking for the right deal taking a home apart and putting it togather works for me, one of the last home we worked on in LA County had a 150k budget.  Realisticly I will need 15 days but excited to see what you send me.

Jim

Not on this one.... but I was on my email with them when you sent this, don't have anything bad to say about them.  I just have not been able to see any wholesale deal that made since to me.  I'm only 2 years and just under 20 deals completed but they have to make some kind of since.  

When we showed up this home looked great from the street, but just fell way short of a cosmetic 40k flip in La Crisenta.  It sounds like you have been on the same marry go round.  I know more than ever it's my responcability to locate and put our homes under contract.  We have heard no one watches your money like you do.... it true, there is no easy way to a million.

Any and all wholesalers are welcome to send any home they have to me I have been wrong before and will be wrong later tonight I'm sure.  Have at me!!

Thanks for your input Tim,

We did counter and haven't heard anything from them yet.  It's a very active area as far as anyavailable margin goes, we really want in but will have to find our deal.  Seems like we look at 12 to 15 per week and we have 3 going right now so it's not like I haven't been disappointed before.  

Los Angeles is new for us we have deals in Orange County and Riverside County  going right now just waiting for a good entry point. Thanks for the encouragement, 

Jim

That is the way I saw it, it just kept getting tighter and tighter every corner I went around. Funny how we want the deals to work so badly just kinda live by the rule of not being a euphoric buyer.  Taking my time and getting the buy right has gotten me out of many trubles when I own the home that just never stops suprising me.

It was a bummer I like the house, looked like the previous owner used it as a triplex and did just enough to make a bad floor plan and is now selling it to some unsuspecting "investor" ,  Thank god it won't be me.

Jim