Posted by Bob Richards on March 19, 2001 at 12:33:56:
Hi Josh,
Not trying to be nosy but can I ask why you’re moving? Does it have anything to do with real estate investing? I’m trying to do it in MA also and find it VERY VERY difficult to find product, let alone purchase it creatively.
I’ll bet your odds will go up dramatically out west.
Okay all you Cali investors, I got a proposal to get into some deals in LA with Million dollar Price tags on them. The guy i spoke to about this said all i would need to do to get into these deals is, Pay him $2500 a month to do the due dilligence on all these $$$$ Properties. Now my Question is,
has anyone heard of the before?..
And how is the Market in LA for SFH? So i can get a couple signed up on L/O’s. So i have some cash coming in to pay this guy the $2500 a month…
When you start to believe that a guy in Massachusetts is going to jump into the California market long distance, with the help of a guy charging $2500…look over your shoulder…something is gaining on you.
You want to participate in California real estate? Move there.
I’ll send you information on million dollar deals in my area, and I’ll only charge you $1500 a month, LOL. Why would you pay anyone just to send you information, when you can get your own? I agree with Phil.
The only way to know for sure is to do your own due diligence. Handing someone you don’t even know $2,500 per month is a recipe for failure. If this guy out in LA is going to automatically get $2,500 per month how much due diligence is he really going to do. He can just dub around and collect your $2,500 until you smarten up and ditch the guy.
If the million dollar deals were that good or even out there this guy would go after them himself and make much more. He just wants your $2,500
/ mo. in my opinion.