$10,000 Bucks off of a 1 dollar Bandit Sign

I just love passive income from my rentals...Sweet deal. Congrats. Judy

According to today's report the median SFH in Los Angeles is $888,000 and $415,000 for condos. None of what you are doing up there will ever work down here. Too little inventory with too high of a demand has the marketing boiling. With prices sky rocketing rents are going up as well as more people are forced to rent. Most home owners are opting to renovate and rent it out instead of selling even at these astronomical prices.

Yea CaRli,I understand what your saying, those numbers scare me. But, last year I had a chance to get a junk house on contract for $225,000 in Los Angeles. I thought that's insane, that house I cud buy for 20-30K here in Fresno. Well, later I found out it sold for 360 frikin thousand dollars to an investor. it wud take 50-60K to rehab the place and wud retail for $475,000
Who is the idiot that lost out big time? Me. I cud of had that on contract for a modest earnest deposit and made some serious profit.
I suggest you change your attitude and do some wholesaling there.
I recently talked to a Realtor and asked her to find me junk houses under 50K She laughed and says, "you cant find those anymore" I said oh really, becuz I just flipped 20 in the last 12 months. Of course she ended the conversation quickly and prob thought I was a liar.

I seen a an old girl friend awhile back and of course she asked me what I been doing. I told her I purchased a course that I seen on late night TV saying you can buy and sell Real Estate with no money and no credit.
She says, "Oh that's a Scam" I told her oh no I've done it. She say well, just because you done it once doesn't mean you can do it again. I gave her my s___ eating grin and tell her, I've done it 32 times and my last 2 deals I made $28,000 She gave me a kinda frown, and changed the subject. I'm sure it's hard to believe.
Anyway CaRi, if I was in LA, I wud be doing my market research and doing some high dollar deals. If you need help contact me and we'll team up.
Rando

Yea CaRli,I understand what your saying, those numbers scare me. But, last year I had a chance to get a junk house on contract for $225,000 in Los Angeles. I thought that's insane, that house I cud buy for 20-30K here in Fresno. Well, later I found out it sold for 360 frikin thousand dollars to an investor. it wud take 50-60K to rehab the place and wud retail for $475,000
Who is the idiot that lost out big time? Me. I cud of had that on contract for a modest earnest deposit and made some serious profit.
I suggest you change your attitude and do some wholesaling there.
I recently talked to a Realtor and asked her to find me junk houses under 50K She laughed and says, "you cant find those anymore" I said oh really, becuz I just flipped 20 in the last 12 months. Of course she ended the conversation quickly and prob thought I was a liar.

I seen a an old girl friend awhile back and of course she asked me what I been doing. I told her I purchased a course that I seen on late night TV saying you can buy and sell Real Estate with no money and no credit.
She says, "Oh that's a Scam" I told her oh no I've done it. She say well, just because you done it once doesn't mean you can do it again. I gave her my s___ eating grin and tell her, I've done it 32 times and my last 2 deals I made $28,000 She gave me a kinda frown, and changed the subject. I'm sure it's hard to believe.
Anyway CaRi, if I was in LA, I wud be doing my market research and doing some high dollar deals. If you need help contact me and we'll team up.
Rando

you are just killin it.... can you carry a banner on back of your plane "RANDY BUYS HOUSES" LOL......

I would hold a few of those for the kids if i was you. I have four now that pay me about 3k per month profit. Put ten of these in your wealth machine and it's freedom city. Hope you come to the edge this year would love to meet and talk..Keith

Many investors do wholesaling in order to finance the purchase of long term rentals.... just sayin'. When I can own 5 rentals free and clear, then I know I can retire. And what I mean is retire from everything else except real estate.

Rando ;
You are doing now exactly want I want to do. I can see if I am just ambitious and get out there on a daily basis and look that I CAN find what I am looking for. Just like that Bird dog you mention in your other post I am sure I will go thru a couple dozen before the right one comes along. But I need to get out there and just look.
Here along the Space coast, on the other side of the country, we deal with alot of rentals here. It is the beach a vacation area and Many snowbirds rent places down here 1/2 the year. The Vacation business is booming. BUT the market is cheaper here I can walk down the block and find 1/2 a dozen houses for under $100K (just list).
If you are sincerely interested I will be glad to bird dog for you here just to get off the ground after that we can work out some partnerships on Rentals and I know of 3 management companies that can do the work for us. Right now less that 1 mile from where I live are 2 apartment buildings that are vacant now and have been vacant over the past 6 months. My friend just checked and cant find a vacant apartment to rent in the area (Between $400 and $1000). Each of these apartment buildings are less than a block from the Ocean and are about 6-10 units each both are concrete Block and 2 stories. Interested? There are also about 10 to 15 single story Block homes in various conditions most are 3/2 and about 15 - 30 years old on 1/4 acre lots. They range from $60K to $120K list some are duplexes.
Let me know what you need and I will look for you.

Hello Rando1, I am just getting started and you're stories are very inspirational. I live in very small town but have some larger cities within two hours drive. I do not have so putting up some bandit signs wouldn't be an option for me but I don't know exactly how to turn a profit fast I keep running into these agents that are to scared to try the methods that I am purposing and I am trying to coach them out of their own way but its holding me back from actually making money is there anyway you could shoot me a few pointers to help me over this hump.

Hey Eric, I propose you find junky vacant houses that are not on the MLS and not being handled by Realtors. Dealing with realtors is difficult bcuz they mostly deal with retail priced homes and the fixers they do have are twice the price because they convinced the seller they cud get more, so they cud get more in commissions. But I did make 12K off a listing a few months ago so I'm not saying it cant be done, just more difficult. Trying to explain wholesaling to a Realtor is like trying to explain Einstein's "the theory of Relativity" to a cave man.
You can find these junk houses by driving the lower income areas, using and recruiting bird dogs, advertising on Craig's List and talking to people and handing out ur business cards. I got a huge deal a few months ago by putting up door knob hangers, (small brochures)Of course bandit signs still work.
I just picked up a deal last week paying $10K from a bandit sign, actually the bird dog purchased 50 signs and put them up in a nearby town and were splitting the profits.

TEACH THEM HOW TO REI and make them LEARN IT/EARN IT or they'll be like the Entitled ones in Trouble and 'Dad will ALWAYS bail me out' stuff.

Don't beat me up for That one

love it man! hahahha so funny, & loved the responses too. always to love to read your posts it does inspire me too.

I hear you about rentals too I want them eventually I am going to wholesale more the rest of this yr and till next July & hopefully start buying rentals then unless I come across a really good one maybe I'll keep it for myself.

Yea come to the Edge Rando we would love to meet/see you

I hear you mbjosheph w/i "retire" I wont be from RE either

This deal took about 3 weeks from when I got sellers signature on my contract, got it sold and picked up the check a few days ago. Paid my finder/partner last night $2,000 in cash. He drove his semi truck over my house and parked it out in the street. I got a photo of him holding the cash with a big ship eating grin.
He works full time driving that truck between California OR and WA, and still found time to buy some signs and put them up.
I think he's motivated to find more. I have about 10 bird dogs I've paid out some big finders fees and got the photos to prove it and to help me motivate future bird dogs. I've paid out about 30 Grand this year to these finders and I've made some serious scratch also.
I had a few deals go south, but who's complaining. I believe I will surpass my financial goal this year.
Let's make some MONEY.....

Rando

Congrats Randy on another one, its getting easier isn't it.

Time to get those planes in the air.

Aaron

nice rando. Ok so yes let's go make some money!!!!!!