I am a newbie in rehabbing in southern california.Does anyone know anyone in California that could give me some helpful hints on yhe business?Thanks in advance for your help. Thanks,Tim
Dear Tim,
I am in Ventura Cnty---where are you? I will be starting an rei group in the next couple months---still doing my homework on it.
The best place to get advice on rehabbing, (do you have experience in construction?) which is probably the most time consuming of the specialties, read everything you can here and then make a list of questions you have--based on what you read. This is how I got the info I needed to get started on my 1st few deals. I bought some courses---but honestly I learned the most RIGHT here. There are other investor sites but believe me this is the most friendly group to newbies.
Best of luck in 2003!
Let me know if you are close to Ventura.
Mel
Hi Tim,
A few questions about your pursuit of rehabbing:
Do you have money to keep you afloat during the whole process---also should there be surprise unknowns (seems there always are)?
Have you read everything here in the archives and articles on rehabbing?
I check out every vacant within a broad distance--also long listings--these come to me from an agent friend of mine. For now I like cosmetic fixers if I am going to do them myself. I have a couple money partners that I share the profits with---if I don't think I can do the deal then I flip it to a contractor/rehabber.
The biggest thing I've found is it takes time to network and build a team to work with. I am a single parent so I can't afford any mistakes--I have to have people I can rely on to do their part.
Just some thots.
Best to you,
Mel
I'm in Orange County, contemplating to get into REI, still learning everything I can before I jump any deals. Love to hear your story. Also looking for partner to get started.
Hi! Was poking around old posts here and found your inquiry about rehabbing in SoCal. I live in Redondo Beach. Where do you live? I'm interested in working on some fixers. Have you done any rehabs here locally?
I also live here in SoCAL and have been dealing w/ investors on a professional level but just got into REI myself.
If anybody would be interested in forming a REI club down here, pls let me know. I've been to several established REI club meetings but have been a little intimidated due to everyone there having so much experience, feel like an idiot. Would love to get to together w/ newbies and exchange ideas, problems were facing, and so forth.
Maybe we can call the club SoCALld Really Eager Investors. <IMG SRC="images/forum/smilies/icon_lol.gif"> [ Edited by jmBROKEr on Date 08/26/2003 ]
Hello......im in the riverside area of southern www.cali.im curently assigning contracts to other rehabers/investors. im just starting out myself, so give me a holler.....ok good luck
Hello......im in the riverside area of southern www.cali.im curently assigning contracts to other rehabers/investors. im just starting out myself, so give me a holler.....ok good luck
Here is my best advice:
-Always get everything in writing
-Always keep ahead of your subcontractors. Dont pay them completely until they are finished!
-You can find some good subs at your local Home Depot. Just hang out in the parking lot!
-Don't under estimate repairs. My typical rehab on a 3/2, 1200 sq.ft. house is between $8k - $10k.
-Curbside is very important. Use neutral colors. Spend a little extra on landscaping for curb appeal.
-Pay a neighborhood kid to water/mow the lawn.
-Make friends with the neighbors so they keep an eye on the property.
-Keep the porch light on 24/7
-If in a "War-Zone" just put down the padding without the carpet until closing. You might even consider an inexpensive alarm system. I have had the same house stripped 3X.
In the groups section of the website there are some CREI groups that meet in california. You might want to start there.
Also, throughout So Cal. Habitat for Humanity runs every saturday. There are probably some people there than can help you as well.
Good luck.
Dear Tim,
I am in Ventura Cnty---where are you? I will be starting an rei group in the next couple months---still doing my homework on it.
The best place to get advice on rehabbing, (do you have experience in construction?) which is probably the most time consuming of the specialties, read everything you can here and then make a list of questions you have--based on what you read. This is how I got the info I needed to get started on my 1st few deals. I bought some courses---but honestly I learned the most RIGHT here. There are other investor sites but believe me this is the most friendly group to newbies.
Best of luck in 2003!
Let me know if you are close to Ventura.
Mel
I'm in Pasadena and looking for my first rehab property. Please feel free to share your experiences with me and I'll do the same. Good luck
Hi Tim,
A few questions about your pursuit of rehabbing:
Do you have money to keep you afloat during the whole process---also should there be surprise unknowns (seems there always are)?
Have you read everything here in the archives and articles on rehabbing?
I check out every vacant within a broad distance--also long listings--these come to me from an agent friend of mine. For now I like cosmetic fixers if I am going to do them myself. I have a couple money partners that I share the profits with---if I don't think I can do the deal then I flip it to a contractor/rehabber.
The biggest thing I've found is it takes time to network and build a team to work with. I am a single parent so I can't afford any mistakes--I have to have people I can rely on to do their part.
Just some thots.
Best to you,
Mel
I'm in Orange County, contemplating to get into REI, still learning everything I can before I jump any deals. Love to hear your story. Also looking for partner to get started.
Casey
Tim,
Hi! Was poking around old posts here and found your inquiry about rehabbing in SoCal. I live in Redondo Beach. Where do you live? I'm interested in working on some fixers. Have you done any rehabs here locally?
Feel free to message me here on TCI or email me.
Thanks!
Kevin
k e v i n @ v b r e a l t y . n e t
[ Edited by kevbostic on Date 08/26/2003 ]
I also live here in SoCAL and have been dealing w/ investors on a professional level but just got into REI myself.
If anybody would be interested in forming a REI club down here, pls let me know. I've been to several established REI club meetings but have been a little intimidated due to everyone there having so much experience, feel like an idiot. Would love to get to together w/ newbies and exchange ideas, problems were facing, and so forth.
Maybe we can call the club SoCALld Really Eager Investors. <IMG SRC="images/forum/smilies/icon_lol.gif"> [ Edited by jmBROKEr on Date 08/26/2003 ]
HELLO....WHAT PART OF CALI YOU ARE IN? IM CURRENTLY ASSIGNING CONTRACTS IN THE RIVERSIDE AREA.....REPLY BACK. I MAY HAVE A DEAL FOR YOU. C-YA
Hello......im in the riverside area of southern www.cali.im curently assigning contracts to other rehabers/investors. im just starting out myself, so give me a holler.....ok good luck
Hello......im in the riverside area of southern www.cali.im curently assigning contracts to other rehabers/investors. im just starting out myself, so give me a holler.....ok good luck
Here is my best advice:
-Always get everything in writing
-Always keep ahead of your subcontractors. Dont pay them completely until they are finished!
-You can find some good subs at your local Home Depot. Just hang out in the parking lot!
-Don't under estimate repairs. My typical rehab on a 3/2, 1200 sq.ft. house is between $8k - $10k.
-Curbside is very important. Use neutral colors. Spend a little extra on landscaping for curb appeal.
-Pay a neighborhood kid to water/mow the lawn.
-Make friends with the neighbors so they keep an eye on the property.
-Keep the porch light on 24/7
-If in a "War-Zone" just put down the padding without the carpet until closing. You might even consider an inexpensive alarm system. I have had the same house stripped 3X.
Best Riches,
Jeff Adam
[addsig]