All Forum Posts by: Chris Lucero

Hello guys, I am a land lord of about 19 years here in Roswell NM just a stones throw from Clovis and about 3.5hrs from Albuquerque.  I would have to agree with @jen @Jens Nielsenundefined it really does not take much to to evict a tenant that is even a month behind. I am looking to add to my rentals and take action on WSling if you anyone is interested I would love to connect. I have been to REI meetup in Albuquerque a few times as I would like to practice investing out of town/state and work CO, TX and NC while continuing to grow locally.

@Rick Pozos Can you touch on, what if you are working a rehab and can purchase the property with $17k cash, rehab for say $35k.  I get 2 lenders at $10k each purchase property with their cash rehab with my cash.....

Any update?

I would do it to hold, After repair only 47,000 but it would make a great rental.  I believe another 15,000 and it almost doubles in value.  I know the numbers don't look good upfront but I think the possibilities are great in time once I chisel away at 15,000 in upgrades/repairs.  This lot has another service for all utilities it just needs to be cleaned up....

@Daniel Brown If I was you I would let her know you are interested in REI so much that you would get the place rent ready ( She pays material your labor is free) "take over" as property management or something to that effect, Earn a little cash, learn from her and get on the job training. If the stars line up this is only the begining.

Any questions, have'nt posted one of these so not sure of how they post...

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Don't "low ball it"  run the numbers and make an offer.   If you feel your numbers would be insulting don't do it but you never know if you don't ask.  I really like the build a relationship option.  It has been said over and over again, (something to the affect) if you haven't felt embarrassed about an offer you aren't trying hard enough.  We ALL are in "this" for the same reason (for the most part) to make money.  Just like a plumber or lawyer, you have to make something $$$ otherwise really what are you in this for?  Good luck, I am following and want to hear your outcome...

@Ingrid B. thanks for the input, I had planned for the whole spouse coverage entrepreneur route till life threw a curve at me and now I have to do it myself and 2 young kids.  I won't make the move unless I can guarantee we are covered, I really hope life plays nice as I have worked hard to get to this point.

@Mike Roy Thank you! I will have to do some SERIOUS research now. We are all healthy just not wealthy so it looks like option one at this point is my go to BUT I will be looking at options. I make $50K at my 7-4 daily and about $30k from my (4) rentals no debt other than my primary, I know I have it in me at 39 to hustle some work on a few more rentals I just need to figure out this whole BRRR, flipping or wholesale thing. I was hoping to take up shop and learn as a realtor but I guess if I am being 1099'd the insurance thing could still be an issue.

Thanks for sharing.

@Andy Mirza Thank you!  I have been working to get "to this point" and feel I am ready to take the next step.  I will be thinking on this.