New home building is booming

Once again there is a frenzy for new homes and people are camping out to get theirs. The median price for new homes in southern California jumped 19% in the last year to $401.New construction jumped 56%. This also means that the economy will grow rapidly. We are so...

GET RICH SLOWLY

 I have been in the real estate business since 1986 and would like to share some perspective with people who are new to the industry. The real estate business is just like any new business. First you have to gain knowledge, set up a plan and then take action. This is...

What to do with equity

I put this on my blog; my facebook and my email list because I think it’s so important. Since I come from a family of attorneys, I am always worried about, “what if”.  I try to look ahead so that I try to minimize any possibility of legal hassles. One bad deal can...

Flipping is dead

Every time you make an offer to  a bank, be prepared to close. There is no assignment regardless of what some “guru” tells you. You can do a double close but it is risky and complicated. Your deposit is at risk unless you have someone who is willing to put...

This is why follow-up is so important

Here is an example of a property that was originally listed for a dopey amount by the bank and sat on the mls. It fell in and out of escrow several times (like most do) when you are dealing with reos, and short sales. Then the bank got real and dropped the price...