All Forum Posts by: CK Hwang

Hey Karen, you won't by any chance know of good GCs would you? That is one part of the team I really need to build up. And yes, I would love the contact for plumber as well. 

@Karen Margrave , thanks for the invite, would love to go, but I'll be out of town. Would love to attend your next one though. 

Bummed I missed the meeting last night. Hope to catch the next one. 

@Will Barnard , out of interest, why would you pursue him in small claims versus regular courts? I'm sure that the damages and losses over the period would far exceed small claims?

@Will Barnard , dang, I have to say you have my eternal admiration for being able to see this project through for 3 years. If it were me, I would have curled up in a corner and given up. 

Just out of interest though, is there an option to "give up" like sell the property at a loss or something? not saying you should but i am curious what the alternative options are in this case other than trying to evict the squatters?

@Serge S. personally, I can only plan up to an exit strategy for myself. Worrying about how my children (if i had any) would handle my estate after I'm gone is far beyond my domain. 

As far as exit strategy goes, the reasons your bring up is the reason why I invest for capital gains rather than cash flow. I know the popular belief on BP is that cash flow is everything. 

Real estate investors that I look closely to for advice, invest for capital gains and encourage me to do so by seeking prime real estate like homes on or close to the beach, or with spectacular views, or prime real estate in prime cities. 

Come time to cash in, it doesn't matter what property is standing on the land, whether it cash flows, functional obsolesce etc, because the value is in the land, so they just sell the land take the money and be done with it.  

1 in 300 wholesalers is not bad. I have yet to even find one that I am able to transact with. 

@DAngelo Cody, this is probably a really minor detail, but one of the things I would recommend doing, if you're writing an email or an ad or even a forum post, is to write it in a way that sounds less like a text message. For example

I'm seeking Rehabbers to purchase current property (maybe elaborate what current property means).

I have sources throughout the St. Louis area proving me with leads at THOUSANDS BELOW MARKET!! 

Some homes are in move in ready state, others are in conditions that after the right management and funds can be turned into huge profitable investments. 

But I'm young and have very few connections and networks. How do I find end buyers? How can I make them find me? Attempts at using Craig list hasn't been big a success at the moment. 

I know it's a small detail, but in a competitive world, it's really the details that set apart one seller from the next. If I had received an email from a wholesaler similar to your post, I would have canned it right away because the following questions would have come to mind

1. Is this guy serious about his business?

2. If he is casual about his grammar, is he casual about the math behind the deals he brings me?

Hope this helps. 

Drew, I've previously bought a few properties from Hubzu before and from dealing with them, what I can tell is that Hubzu is a portal for the brokerage to list their properties as auction sales. Behind this portal is pretty much a standard real estate brokerage that has found its niche in selling REO properties. But either buying at a courthouse step or buying conventionally, wouldn't you want to do due diligence? Even a conventional sale could have a IRS lien or a chain of title broken. 

Once you've purchased something through Hubzu, you'll go through a normal conventional buying process of using a standard purchase agreement (here in my market anyway), escrow company, title company, title insurance etc etc. You will still have a contingency period (although very limited), and one can't back out on the contingency based on the condition of the property. For my market, I've never seen them conduct foreclosure auctions i.e. like auction.com does.

But if worried why not just call them up and ask? customer service (855) 882-1314