All Forum Posts by: Derek W.

I just got a quote from Western Security Surplus for vacant property insurance. It was just under $900 for three months, paid upfront. Does this sound in line with the prices you have been hearing?

Hassan, I just wanted to let you know how much I appreciate you taking the time to share this with us in such details!
(Unfortunately for us SoCal boys, San Diego just got worked.)

Ok, not a wholesaler, so if I am talking out my @#$ please stay patient. (It wouldn't be the first time!!!) If you have the property under contract, could you assign the contract to the new buyer and collect a processing fee through escrow as part of the buyer's closing costs? For instance, when I do short sales, I get paid by adding a procesing fee that is paid legally through escrow the exact same as a psysical inspector or a termite company. In California it is a line item on the HUD-1 statement. The agent still collects a commission as the buyer's agent, you get paid through escrow as a third party service company, and the buyer gets the house they want. You may need to increase the purchase price to cover the "closing" costs if the buyer needs to pay this through their loan, but getting an appraisal to come in at value shouldn't be a problem as you bought at a discount and can leave a little meat on the bone for the end buyer so even after covering your fee they can still get it to appraise.
Or, if you purchase in a trust, you can always sell beneficial interest in the trust legally to a third party. This would be hard to get packed into the loan for the end buyer, though.
I guess I am assuming a 10-20k profit. If I am way off base with this, sorry.

What is most interesting in light of all of the bad media Real Estate is getting, the Brokerage I work at just had their best month EVER in December.

You have a really good Real Estate Investment group right there in Corona that meets on the last Tuesday of the month. Great place for more knowledge and networking. IE Investors forum.com for more info.
Welcome.

Jeffrey, what would some of the "more advanced books" be?

Good post, Colin.
Man! When I was 20 I was working construction by day, jamming in bands and staying up all night. Are 20 year olds getting careers and thinking about the future nowadays? Scary! I can’t imagine the damage I could do if I started getting serious in investing at 20. Then again, maybe I wouldn’t have the balanced perspective on life, which is what I think DemosL was referring to. I love both sides of the advice here. Read and educate yourself, but don’t forget to go have fun.

That could work. Usually when fiberglass tubs and inserts are installed the installer puts down a bed of fix-all or mortar and then “squishes†the tub into the bed for support. If this isn’t done then you have the flimsy feeling you are describing. Some installers insist on using fix-all instead of a mortar or Portland cement because they say the alkaline of the cement product will erode the fiberglass. I don’t know if it’s true or not, but I know we have used cement products for years and haven’t had a problem. I have never used the foam approach, but as an after-care application agree that it might be easier to get a supporting surface into a tight space better than mixing up fix-all or cement, I just don’t know if it will have enough strength and rigidity.

What design level does it need to be so that you are competetive with the surounding homes? Where in California is this house?

Holy rambling lengthy response! Sorry guys!