All Forum Posts by: Chris Christensen

@Keaton Sherman Congrats on becoming a realtor. I would recommend focusing on growing your realtor business first. Find deals for other people and then use that experience to find deals for yourself. Good luck and please let me know how it works out for you.

@Ned J. There are actually 2 satellites on the house, one on the roof and one on the side of the garage

@Laurence Obi Looks great! Congrats on a profitable first property!

@Justin Wotring Great start on the renovation! I do agree with Steve K that you should consider getting a foundation expert out to the property within the next few months to check for any major issues and hopefully prevent them before they get out of control. If that much water accumulated in the basement, then there is likely multiple entry points (cracks in the mortar most likely). Please keep us updated. I hope this is a great investment for you!

Congrats Jay! How much under market are the current rents? I would probably split the difference between the current market and where they are at now. If they are still a little under the current market after the rent increase then I believe they won't complain. 

Sounds great! I look forward to seeing them.

Hi Keaton,

Are you using the Biggerpockets calculators to run your numbers? What are the numbers you are looking for and what are the local wholesalers bringing you?

A good option, in my opinion, would be to tell the wholesalers exactly what you are looking for and counteroffer anything they bring to you that is outside that to the point where it would work for your numbers. If you don't get any good deals from them, try going to local property managers and asking if they have any property owners who are interested in selling. There could be some that are eager to sell their homes, but are too lazy to put in the effort of listing it, or don't think anyone would be interested. 

Good luck!

Hi Victor,

How much money will you be putting in to convert the attic to a functional living space? There are a lot of things to consider when utilizing an attic. Are you creating a separate entry to that unit from outside, will you be adding a kitchenette (or doing a communal kitchen in one of the other units, which would diminish the value of both), does the attic have proper ventilation, are you adding a bathroom or has one already been added in the past, will it have it's own hot water heater, are you adding an electrical and water meter, or will you be paying for the additional usage? 

That is a great idea Anthoney. Thank you, I will definitely look for ways to share my experiences and help people out in any way I can.

The podcasts are amazing! How long after finding the podcasts did you start to see changes taking place in your life? They are definitely inspiring me to take action on the things that I have been interested in for years, but thought were out of my reach.

@Justin Wotring Congrats Justin! I'm curious, What were the initial repairs for this property? Did you ask your realtor/property manager to do a video walk through with you before finalizing, or did you get pictures? Are you planning on raising rents after repairs? Sounds like a good first deal!