Real Estate Broker Team with Allison James Estates and Homes
Attention Real Estate Investors
We are very active with Bank Owned, Foreclosure / Distressed, and off-MLS property opportunities. Over the last 2 years we have had more of our own Bank Owned listings than any other team in the South Bay Area. We have bank listings in Santa Clara County, Santa Cruz County, Alameda County, San Mateo County, and SF County. We are very experienced in bank owned foreclosures, short sales, pre-foreclosures, fixer-uppers, etc. We work with investors and understand the ins-and-outs of what type of deals most are looking for (margins, rehab costs, ARV, etc).
It is relatively easy for us to find deals that are 5-15% below market value. These are perfect for a non-investor looking to buy a home to live in, or even for an investor looking to buy and hold as a rental. It is much harder to find deals that are 20-30% below market for flipping. It's almost impossible to find deals that are 40-50% below market. Yes, sometimes we find all of these, but the more below market you are looking for obviously the harder it is going to be to find.
Because we have many bank owned and distressed properties, and off-market opportunities, we receive a LOT of calls from potential investors. As I'm sure you are aware, it is getting harder and harder for investors to find good projects to work on. In order for us to sort through all of the potential investors like yourself efficiently (and not be on the phone all day long), this website allows us to tell you a little about what we do for investors and also to help us find out more about your requirements as well as your qualifications/experience. Based on your information, we can quickly determine whether or not any of our current (or future) properties might be a good fit for you. If you are an active investor we would love to have you in our database to work with when we locate good deals.
Let me be very upfront (to save you and us some time). We do already work with some experienced investors. We get investor calls EVERYDAY. It does us no good to have 100 more investors looking for huge profit margin deals. It DOES make sense for us to work with qualified investors who have reasonable expectations and we'd love to hear from you if that sounds like you. Let me first start by telling you what type of investor we are NOT able to help.
If your minimum expectation is to make $150k+ profit on a $500k (purchase + repair expense) investment, we won't be able to help you. If your minimum requirement is to make $250k+ profit on a $1,000,000 (purchase + repair expense) investment, we cannot help you. Yes, we do get deals like that (or better) from time to time but it does me no good to have 100 investor clients on my radar looking for such hard to find deals.
If you have never flipped a property before and are trying to buy a home with Hard Money or with an investor partner who is providing the money, we likely cannot help you. In our experience, a hard money lender or an investor partner is going to add a lot to the profit margin you will require in order for the deal to make sense for you (...and we won't be able to find you a home at 30-35% below market value very easily).
If you are trying to wholesale or you are "bird-dogging" for an investor, we likely cannot help you. Based on my experience, your investor will likely require a large margin and on top of that there needs to be some additional profit so that you can make $$$. We would rather work with investors who don't have this overhead.
- If you have recently attended a "How to flip homes in your market for huge profits" seminar and you have never flipped a home before, it is unlikely we will be able to help you. Flipping homes is a very tough, competitive business. There are experienced investors out there with their own cash with excellent contractor partners working with likely lower profit requirements than you. That makes it very difficult to find you a flip if you have never done this before and especially if you don't have free access to your own cash.
The bottom line is this... We ARE interested in finding investment partners who are experienced, have easy access to financing (cash is even better), and have easier to meet requirements/criteria.
If you would like us to send you deals or you would like to hear about our current inventory, please send me an email with the following information:
In the email Subject line please put: "Investor interested in your opportunities"
Full Name, phone #, email address
Are you or any of your partners licensed real estate agents?
What are your investing goals? (ie. Flipping? Buy and Hold rentals?)
How many homes have you bought/sold in the last 12 months? How many would you like to buy in the next 12 months?
What are you using for financing? If it is cash, is it your own money or is it from an investor or hard money lender?
If you are flipping, please give me some examples of deals you have done recently. What was your purchase price? How much for rehab? How much did you sell it for? If you can also send me the addresses that would be great (so I can look them up to see what kind of work you do)
On a ~3-4 month hold time deal where you put in $600,000 for purchase price + rehab, what is the minimum profit you need/expect in order for you to want to move forward with the deal? How about if instead of a $600,000 deal it was a $1,000,000 or more deal? What is the minimum profit you need to make in order for you to want to do the deal?
If you are flipping and I bring you the deal, will you be comfortable with having me relist the home once you are done with the remodel? Our fee for investor flips is 5% total commission (listing side + buyer side) on the resale. This is a reduced fee compared to our regular listing fee for non-investors.
Based on the information you provide me in the email I will be able to determine if we'll be able to find you what you are looking for. We do come across deals frequently and if you happen to be a good fit I would love to send the deal to you for review/analysis.
As I mentioned, we do have a good number of Bank Owned properties. Most of these are sold via online auction at www.HomeSearch.com. You can find out a lot of information regarding how these auctions work as well as information about most of our current Bank Owned inventory by visiting www.TheSimoneTeam.com/REO.
I look forward to your email information and I hope that we'll be able to work together on your next great deal!