Prospects! Not Suspects!
I'd like some feedback on some information I've recieved through a course by Ron LeGrand. In it, he leads you to belive that finding ugly, vacant houses is a breeze. However, I am starting to belive that living in Orange County is a different story...I know I'm not getting into the right neighborhoods.
Any tips on finding the best neighborhoods to "drive for dollars"? I've covered a great deal of my own town but know there must be a more efficient way. As of now I've covered 5 square miles and only found 2, ugly vacant's. (out of hundreds and hundreds and hundreds...........)
Thanks for any free knowledge =)
Wow. Thanks for all the info. Although I'm in the process of researching all fields of investment opportunities in real estate, I'd like to focus on wholesaling to get my feet wet. It seems to be the most direct approach of the available routes. Any tips on locating the neighborhoods where my chances of locating a property are best? I live in such a high priced market that it seems (so far) that every neighborhood I cruise through is totally filled. I'd like to find some sort of systematic approach to eliminating neighborhoods that are most likely a waste of time...
Further tips?
Reeldeal:
You are only an hour away from Legrand Type neighborhoods. How about SanBernardino City....
Take a drive out there and drive for dollars....
Let me know your results, you will be pleasantly surprised.
I have a lot of friends from "The OC" who buy/sell in San Bernardino. Just make sure you stay out of Delman Heights. This is located West of the 215 FWY and and north of highland.
Best Riches,
Jeff Adam
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JeffreyAdam:
Thank you! I'll check it out at first opportunity and get back to you.
JeffreyAdam:
Quick question for ya. I drove out to San Bernardino this past weekend to look for any possible wholesale deals. I was just a few miles south of the city when I saw some homes from the freeway and decided to check it out. I found a ton of prospects in the few hours I spent driving, but I was in Riverside the whole time. Do you know much about the city? Is is a war zone I should be wary of? I've heard bad rumors about "The 909" and I want to be sure I'm staying away from bad areas. Any tips would be great =)
ReelDeal,
I currently live out in Riverside in the 909. I am a first time investor getting started. I am in the process of being very close to my first rental property. Any tips you can give me that you may have learned or seen on the forum. I am new to the forum. I have seen several houses in my area that investors bought and fixed up alot. All the houses have been bought and fixed up very nice which is good for me. I would like to know what is said about buying out here. Prices are going up alot like OC. BTW: How was Ron LeGrand? Was it worth the money?[ Edited by JRendell on Date 10/20/2004 ]
JRendell:
As for the 909, I've found a ton a properties but haven't and will have 10 offers out by the end of the week. I'll let you know what happens...
As for Ron LeGrand, the seminars don't take place for 3 weeks but I've just about completed all the course materials. There is a TON of information and the live seminar recordings I've found very helpful. He has a very stern, no nonsense approach to teaching but he definitely gets the point across. I'll put up details after I get back from the seminars....
If anyone else has opinions/experience with dealing in Riverside, I'd love to hear it.
Reeldeal:
The entire 909 area code is a good source of deals if you know what you are doing. When I first started out 10 years ago, I would literally bid on 10 houses in the MLS and buy 2. When I learned how to 'wholesale' it was on! I would buy everything that came my way. Things are not as easy as it was back then due to the economy getting better and more investors. However there are still some good deals to be had!
Best Regards,
Jeff Adam
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Reeldeal,
I would love to here what the result is. I am probably less than two months away from starting to bid on my first rental. Any pointers that you can give me from your experience. Thanks in advance.
Jrendell:
Be careful buying anything as a rental in California right now. We are in a Sellers Market Stage II heading for a major correction into a Buyers Market Stage 1.
I know investors who make a killing in Perris. If I were you, I would buy/sell only for a while. Did you know that in Texas you can purchase a 40 unit apartment house for $800k? And it is in an uprising market. Condo's where we are from can for this price!
Best Regards,
Jeff Adam
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JeffreyAdam,
Thanks for the info. I am kind of stuck right now on what to do. Just gonna take it slow and make sure I make the right decision.