All Forum Posts by: Derek W.

Search the forums. There are tons of threads on this. There are different opinions, but almost all of the experienced investors I know are agents or brokers as well. Short answer, yes. Get your license.

I would chime in, but I call Aaron for wholesaling advice. So you've got the master answering already.

I own a lot of rentals at 2% or better in California. Some are in Riverside county, (Hemet, Wildomar) most in Kern county (Bakersfield surrounding area) I also own rentals out of state, and will never buy out of state ever again. Just my 2 cents.

I didn't have a penny. I found a good deal and partnered with a guy who had money. I agreed to do all of the work, he financed it, and we split the profits. All these years later, I still do some deals that way.

In the really low end rental market that I play in no one has a security deposit. 9 out of 10 applicants ask if I can work with them for deposit. If I like almost everything else about them, I may choose to rent to them. However, I NEVER let them make payments on the deposit. In California you can't evict over non payment of deposit payments, only rent. So what I do is accept a full security deposit, and allow them to make payments on the rent. That way if they miss a payment, I can legally serve a three day notice. But I agree with the others. Don't do it unless that is your nich and the only way to fill low end vacancies.

Thank you, that was awesome!

I can't wait! Due to snow and icy conditions I drove down yesterday and am sleeping on the door step in anticipation. Hit me up if ayone wants to grab breakfast.

Can't you just say "Thank you so much for calling. I'd love to talk to you about your house. So how'd you get my number? Oh, from the sign on the telephone pole on 3rd street, awesome."

I have some apartment units in the ghetto and some nice houses in the desirable suburbs. Over years of land lording, I have decided it's the human being that matters. I have some tenants in the ghetto that keep their place spotless, and some that are disgusting pigs. I have found the exact same in my nice houses. From my own experience, I couldn't make a blanket statement that one economic class is neater or takes better care of a property than another.

I'm trying to figure out why anyone cares who's there unless all aspects of the sale haven't been disclosed to all. If the seller thinks he can get more, I always suggest they list the property with an experienced local realtor to get the highest price. That isn't a motivated enough seller for me. Otherwise, who cares if the seller is there?