SO. CA investors, I have questions? - Posted by Ryan

Posted by Ronald * Starr(in No CA) on September 25, 2003 at 14:57:36:

I received the following via e-mail. Seeing no problem with privacy I post here so others can learn or respond.

---------* THE E-MAIL -------*

Thank you for the info. The law on buying foreclosures from an owner occupant was what he was talking about. Is there any law as to how many
properties one entity can flip in a year? I usually look to buy low to mid income SFH with 30-40K spreads, needing under 12K in rehab.

Is there many houses like this for sale? Is there holesale companies which put wholesale properties for sale to be rehabbed? I am dealing with cash and looking to re-locate to so. CA withing the next 6 months. If I do re-locate i will be looking for many properties (5 a month) to rehab and sell to owner-occupants.

If you do any investing in so CA or you know anyone there let me know and maybe we can work
out some deals.
Thanks a Bunch,

--- RESPONSE -----*

I do not invest in the southlands. Nor do I know any investors there.

I don’t know what may be available. There are many properties, so there be enough to invest in for you. I don’t know. However, I’d suggest you check by talking to other investors there, check the advertising of properties for sale, talk to real estate agents, etc. There are many investors in the area. How competitive it is I don’t know.

You probably will be able to make larger profits on each property than you are used to.

Good Investing************Ron Starr************

SO. CA investors, I have questions? - Posted by Ryan

Posted by Ryan on September 25, 2003 at 09:27:47:

I am an investor in S. Florida who is from So. CA. I specialize in flipping properties and rehab projects. I have heard that there are very strict laws in CA that don’t allow this type of work. Is this true? Any advice is appreciated!!

Re: SO. CA investors, I have questions? - Posted by Ronald * Starr(in No CA)

Posted by Ronald * Starr(in No CA) on September 25, 2003 at 09:56:48:


I’ve heard of no such laws. You might try to get your informant(s) to provide more details about these supposed laws.

In CA there is an emphasis on consumer protection. There are special laws related to buying a home in foreclosure from an owner-occupant. There are building codes for virtually everything. It is much tighter compared to Oklahoma building codes, I think.

Good InvestingRon Starr