All Forum Posts by: Jim Keller

First off, great to hear you asking what went wrong.  I have messed up many times, what I don't understand is all of the intanglements in this deal.

Over the last few years I have built a nice operation/team it opperates to save time and money.  We purchase fast, demo fast, rebuild fast, market, and close the new buyer.  We only spend time on these issues, this business can be very simple if you don't tangle them in things that don't matter.

I have 3 main people in my operation accusition, this includes purchase, escrow and finance. This is what I primarily do for our company.  We have a contractor that handles all our work, I meet on the jobs with him from time to time so I understand what's happening on the site.  Lastly we have a team of agents that sell our homes as well as make offers for us and manage different wholesalers.

We have 14 open transactions going as of today 3 of them are on the market 2 in escrow 9 of them are in some form of rehab.  We have 6 or so deals that we working on, probate, or condemned properties for the most and some are vacant and uninhabited or need the hordes kicked out.

My free advice is to pull out a piece and write down the flow of your operation and "Keep It Simple Stupid" Cut out all the fluff, purchase, demo, market, and close is all I would focus on nothing else matters.

Jim

I buy all the time in Riverside, Ca I even have one I purchased from Aaron.  Your welcome to call me anytime,  I have 4 active flips going in Riverside right now.  We purchased from 2 different wholesers, both made a very nice fee.

The fact is most agents are not investors.  Most real estate offices have only the top 2% of agents that have any idea of what's really going on.

Don't take my word for it, ask every agent you meet how many properties they own or have owned as an investor/landlord.  You will be underwelmed, top notch investors are few and far between.

I have found most agent minded individual's are more focused on the closing or 3% of the deal.  There is more to life than these things, most of the investors I know, do it for the love of it.

I went back and read the richest man in babylon this weekend it's a great book, if you get a chance check it out.    

Not talking bad at any level about GREAT AGENTS, just how there hard to find.  Just because they drive nice cars, have a nice office, and are seen at all the cool places. In the end working at a brokerage is a job.  That should not be a goal, financial indipendance is the end game.

Good luck

Jim

PERSONAL GROWTH EVERYDAY

The people's Republic of California is not a friend of business......        

Be careful you are the deep pocket is the transaction. I feel any other company, person, LLC, or whatever between me and the buyer of a home I'm selling is a good thing.

Jim

You are thinking the right way..... the more people you help get what they want the more often you will get what you want.

Use every deal you don't put under contract as a referral to an agent of your choice, or as I call them my agent partner.  Nothing will make an agent more excited about sending you there best deals than you giving them a few referrals..... good luck

Jim

I don't wholesale, I buy or move to the next deal.  Well my wife operates a real estate team in Corona, Ca so I refer sellers to her all the time.  I have Investments going In Riverside, Orange, San Brenardino, and San Diego County's. I purchesed a home from a wholesaler this week, so I know people do it.   Im just good at flipping and have a good model in place.  There are so many people in Southern California, 28 million I think.  You just need 4 to 6 deals per year to make 100 K plus per yr.

Good luck hope to hear from you

Jim

Go to meetup.Com you will see the club, meets the 4th wed. Of every month at the mission inn

I would recommend you use your "expertise" go to some of these bandit sign people and ask to work there dead deals....... you can find gold in a pile of cr$p.

Call me anytime I love this topic.

Jim

I have met Guy at a Riverside real estate meeting, and he has hit something very smart here.  Calling all of the bandit signs will put you in touch with the real buyers and sellers in Riverside or any other city.

Unless you have experience taking calls I would work very hard to understand how to give seller's what they want. I would encourage role playing with you and a partner, so when a real seller calls you can close the deal.

Good to see you on BP Guy!!

Jim

Good advice Rick, Ward has been at it for years.  The high equity properties that your talking about are all over my buying area of the Inland Empire.