Posted by dewCO on November 09, 2000 at 22:31:19:
Try reading ALL the info. here. There are lots of articles and stuff in the archives.
Need Mentor in Flipping (Fontana, CA) - Posted by D.C.
Posted by D.C. on November 09, 2000 at 21:06:39:
I’m new at Real Estate investing and would like a mentor to help me flip properties in Rialto, Fontana and San Bernardino, CA.
I have purchased the Carlton Sheets system.
Thank you,
D.C.
Re: Need Mentor in Flipping (Fontana, CA) - Posted by Bill Gatten
Posted by Bill Gatten on November 10, 2000 at 17:22:08:
First bit of mentor advice. Get our of Fontana and Rialto and San Bernardino!! Have you lost your senses??
No…just kidding. As a matter of fact, I have a few properties in ‘Berdoo’ and Jim and I are about to pick one up in Fontana. Essentially, I find the market there the same any anywhere else. The only problems I see, however, would be fast flips. Most investors are going to want some pretty deep discounts in those areas. Nevertheless, if you can buy right you should be OK 60-70 cents on the buck, I’d imagine.
However…why don’t you look into to what we do (PACTrust). My San Bernardino properties are all leased to co-beneficiaries of the land trusts that hold title to the properties. This gives the tenants all the benefits of ownership and the incentive to cover all management and maintenance for me, and gives me considerably more per month than I could ever get otherwise. I have about $50K-$60K equity in one and about the same in another, and I can borrow money on either of them anytime I want to as long as I don’t run the payments up or borrow more than the original mutually agreed value of the property (it’s in my contract with resident co-beneficiary).
For more on the subject you can click on the banner ad here on CREO or go to www.landtrust.net.
Bill Gatten