All Forum Posts by: Chris Coleman

@Sachin Parikh there’s no need to put in the Operating Agreement anything about mortgage interest or such. But you should have an addendum showing your capital contributions. And keep good records.

@Ben Sears the one that facilitates the most capital for continued investing and scaling up.

That could be better leveraging (safely), joint venture partnering, syndications, or other. But access to capital is key for going bigger. For me it’s focusing on syndications.

@Ernest E. Davis thank you for your service, and welcome to the DMV.

As @Ika Sargeant mentioned, prices are high here, and duplexes are hard to come by at any price that makes investor sense.

As you get to know the area more, particularly NOVA, you will see that to get to “lower price” areas, you are getting a ways out. The prices you’re experiencing in Chantilly are not really high end around here, but about mid-range for the area. To go noticeably lower, you’ll need to go west beyond Manassas/Gainesville and toward Warrenton, Front Royal, Winchester, or south toward Fredericksburg.

@Mike Jacovelli sounds like you need to start reserving your real estate conversations, and time and energy, for more encouraging people.

Have you attended a real estate Meetup in your area? Or a real estate investing conference? If not, you definitely should find one and go. It will do you good to get around people who share your goals and enthusiasm. Spend your energy there.

Haters are gonna hate, so leave ‘em be.

@David Bushroe II continue doing research until you can decide what type of real estate investing you want to pursue.

Buy and hold rentals? Multifamily? Fix and flip? Wholesaling? Notes? Private Lending?

Which niche of real estate investing interests you the most and seems a best fit for you?

Once you’ve decided on that, drill deep into learning all you can in that specific niche. Make connections, build relationships with people who are already successful in that niche. Learn, learn, learn.

Then based on what you’ve learned and maybe with some help from those successful people you’ve met, develop a plan, and start with Step 1...

@Montgomery St. Hilaire I can highly recommend REI Nation (previously Memphis Invest). Chris Clothier is on BP quite a bit, so you can easily search for him and read many of his posts, etc.

@Marvin Moore it sounds like you have a solid plan. Keep building equity through forced appreciation and using it to scale up into bigger deals.

Just be sure to keep healthy cash flow in all your properties and don’t over leverage.

@Meir Greenblatt I did on the first few, but never again. I’ve found that they want to try to repair, and repair again, and repair again and again...to keep from having to replace anything. And even with the warranty, every time they send someone out to repair...again...you pay a service fee.

@Chris Vance

Owner/Landlord friendly regulations.

@Joseph Ritson have you considered starting with a HELOC? In that way, you're not paying interest on money you're not using.