*|FNAME|* We may not have spoken in awhile, so I wanted to let you know about a personal challenge I have taken up for the month of May. I am going to buy 3 properties by June 1st and would like your help. Since beginning this challenge, I opened escrow on a property in Chula Vista on May 14th. I will close on this property sometime next week. 1 down 2 to go! I am looking for EXTREMELY good deals that you would want your Mother buy but she won't.
I am NOT looking to buy and hold right now so make sure these are deals we can add value to and re-sell through you. That's my double Cha-Ching$$$ guarantee! If you bring me a deal, I not only will buy through you, I will sell through you.
Since starting this challenge, I have been working my tail off and it's paying off. I may even double my goal. I am getting calls everyday about new opportunities. Can you think of a property that is about to hit the market, fall out of escrow, or is due for a price reduction??? If so, give me a call. For my investment criteria click on this link -----
How am I finding deals, you ask??? The same strategies I employed as a successful commercial realtor to find deals and build relationships are the same techniques I am using in this capacity. May experiences with commercial deals have provided a strong backbone for my current undertakings. (click here to continue...)
Property 36 Is Almost Sold
Our Escondido property is supposed to close escrow next week. It wasn't a huge deal but a good one at a purchase price of $114,000 and a sales price of $245,000 a few months later. I guess you could say it's better than a poke in the eye but not our best of the year. Check out the website created to track the progress from purchase to sale! -----
The fund we developed to buy distressed apartment buildings was recently talked about by news publisher Crittenden publisher of The Apartment Report (TM). (click here) I am excited about the possibilities but still cautious on which markets seem to have the best opportunities.
My latest "Survey Says"....
" Which asset class would you invest in?" The answers were 50% Apartment, 25% Single Family, 12% Retail, 9% Office, 3% Industrial
A survey done by The Norris Group's compiled from data on their latest 100 hard money loans which were used to buy and flip homes around Southern California (63% were REO, 16% Short Sale & 5% Trustee Sale).
Some of the questions answered were.... How was the property purchased? Who wrote up the offer for you; the listing agent or the selling agent? How long was it on the market? Was it listed or unlisted? and many more questions that will help guide you and your clients in this crazy market. Click here to see the rest of the results you may be surprised!!
New Survey: Where do you think the best apartment market is right now? Take this quick survey click here..
Upcoming Speaking Engagements (Click Here)
May 20th I am teaching 2 classes at the San Diego Association of Realtors on transitioning into Commercial/Apartment Brokerage.
June 5th I am a guest speaker at a 3 day "raising capital" boot camp with presented by attorney Jillian Sidoti & other guest speaker Chris Yates
June 11th I will be in Sacramento teaching for the California Association of Realtors Commercial Alliance
To my pleasant surprise these classes have been a great way to develop relationships with realtors and ends up being a real win/win. I show them successful ways to find great Commercial deals and they can call me as a buyer to buy these properties or another client (hopefully me :) )
Thanks for taking the time to hear me ramble and I hope to talk to you soon. Let me know how I can make this newsletter better by sending me an email