ital Lending Group
or Flips & Commercial
s
al
ot
d
d
for
ust
n of
re
•
•
•
•
•
•
•
•
•
Quick and Efficient Closings
Qualifying is Easy
Financing Available Up To 90% of Purchase Price
Rates From 9.99%
12-Month Terms
Discount Points From 2%
Wholesale Opportunities
Commercial structure loans $1 - $100 million
3-year fixed on rentals starting
at 7.5% stated
imes are income
T
Rick Perez, CEO of Realty Capital
Lending, Reveals His Tips for Success
EXPERIENCE IS
nothing like
KEY FOR SUCCESS
they were
Experience is so valuable,
Visit our Website
between
however, if you don’t
www.RealtyCapitalLG.com
2009 and
have it, bond with one of
2012 where REOs and
your teammates that does.
foreclosures
were
in
Here are some important
BRE Lic# 01957506
abundance. Now, Short
tips I’ve learned along
8132
Blvd Ste
Sales Firestone
are becoming
the way:
Enrique “Rick” Perez
824 Downey,
CA 90241
harder
and harder
to find. Once found,
(310)
308-7425
delays of getting the 1 st and 2 nd Trust
1. Verify
All the Information
[email protected]
Deeds accepted can be extremely
It is always a good idea for you to verify
agonizing.
the info with the city, a title company or
For the “in-and-out investors” with
another agent. We make it a practice to
little knowledge, it is a difficult time.
review the subject property and comps,
Inventory is the key, but where do we
the zoning and square footage. We have
get it?
found that helping our clients understand
The investors we work with directly
a deal, a construction build-out idea, or
are getting creative and networking.
any possible issue that can arise puts
Making more contacts with real estate
our clients that much more ahead of the
agents, attorneys, probate court deals,
game.
continuing to pursue short sales and
even now standard sales. The last
2. Protect Thy-Selves
few years many investors gave up
Do your own due diligence. We all
purchasing foreclosure trustee sales
have to protect ourselves. The reality is
due to the large hedge fund buyers
bird dogs and agents may be giving a
picking up the properties at buy and
miscalculated value. Drive the property,
hold prices.
walk in it, drive to review the comps,
The successful investor works hand-
verify city records. Please make sure
in-hand with his active agents and
what you are being sold is in fact what
finders. He has to be able to respond
the building department of said city has
fast and follow through, and close
registered.
quickly when needed. I have seen
many investors falling at the sidelines
3. Have the Funds Ready
due to lack of performance, lack of
Private Money/Hard Money lender in
keeping their word, and last minute
your corner. If you need my help on
hard-nose tactics that may save them a
a deal call me, knowledge from A – Z
buck or two on the current deal.
of real estate investing and building,
It’s important to treat the “hustlers,”
Interior conversions, add-ons, setbacks,
out there finding you deals, with the
Retaining Walls, Casons, Plan check,
utmost respect in order to nourish
hearings, conditional use permits for
those relationships. Remember: Our
different zonings, Variances, REAP
business is based on the Win-Win
properties, Substandards, Liens.
concept.
Closings from four to 10 days on
Realty411Guide.com
PAGE 54 • 2014
residential one to four units and small
commercial buildings. From 14 to
40 days on, most, larger commercial
structures.
4. CREATIVITY IS KEY
Internal conversions, add-ons, build new,
down size, change use, buy notes, joint
venture, mortgage notes...
Being flexible in your deal making will
improve your chances of success. Our
team always likes hearing about the
ideas our clients have and we often get
involved in joint ventures. Be a creative
investor and if something is needed to
make the deal work, don’t be afraid to
ask for help.
5. WORK WITH THE RIGHT TEAM
Don’t try to do this alone, the right
people can expedite your success. For
example: We come across inventory
every week from our bird dogs and
wholesalers and share these with our
clients. this is an added bonus to having
our company in your corner. It’s
especially important to add trusted team
members to your circle if you don’t’ get
out of the office or house much or are
just starting out.
On this note, if you happen to have
wholesale deals and would like to
address the possibility of selling them to
a few of our clients, please contact us.
We are always looking for residential
and commercial inventory. Also, lots
with existing plans in place are always
a possibility, since many of our clients
have been taking on new build projects.
I hope these tips will assist you in
landing and closing your next deal. v
For more information about Rick Perez
please contact: (310) 308-7425
reWEALTHmag.com