Nope. No license is needed as long as you aren't acting as an agent for anyone in the transaction.
As for paperwork it sounds like you need a mentor to guide you through the process. You may want to start reading up on the wholesale process. Biggerpockets.com is a good resource to get you started.... more
Thank you so much for your response. I've just based the rent price on Zillow, which is around that price.it includes all appliances and furniture as well. You think I should still adjust the price? Thanks.... more
Give Big Block Realty a try! We have an office in Mission Valley, Ramona & Eastlake. We are a 100% commission - NO broker split & we offer training 3 times a week. Our Broker is also a Real Estate Attorney who is always available, so that itself is gold. If you have any questions please feel free to call or e-mail me.
Oceanside as answer here already is a good choice. To get $2000 per month you will need to buy at least a 3 BR 2 Bath home in North County. You should also look at Vista and San Marcos. These areas are close enough to Camp Pendleton to take advantage of the military market.
If you would like some help searching these markets, please give me a call. And also check my Trulia profile.
Over the past few years I have done lots of flips. For awhile San Diego County was the land of milk and honey,right now the majority of flippers in this price point have moved on to other county's. While it still can be done, you will need to look at areas like Spring Valley, Jamul,etc. Since there are way less to buy you are competing with all the other flippers in this price range. A little bit of needle in the haystack story.
Unless you are in the construction business you will also need a reasonable-reliable contractor. Most of the flippers have a crew put together and use the exact materials on each flip so very little has to be figured out.... more
I have quite a bit of experience renovating historic buildings. I have done four major projects myself in Denver. Unfortunately, you are going to have to spend some money to come up with a good estimate for required structural work. Any major renovation will require that the building be brought up to code especially for earthquake loads.
So, if you are serious about buying the building, put it under contract with a LONG inspection period. Long enough for you to hire a structural engineer to determine what needs to be done. Then you can get a reputable contractor to give you a good estimate. That is a simple answer to what can be a complicated process.
If you are planning to lease the entire building out, you need to estimate the rents you can get. Apply a capitalization rate to rent income and you can determine an approximate value of the building renovated and leased up.
A good Real Estate Broker or Development Consultant can help you with all of this.
Call me if you want to chat about this...
Allison James Estates and Homes
BRE 01874739... more
Yes it is possible as long as you have converted the units to condos. I sold a tri plex that way in South Mission the address is 712,714,716 San Luis Rey 92109.
David R. Indermill
Re/Max Hall Of Fame, CDPE | Since 1998 | Luxury Real Estate Advisor
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