All Forum Posts by: Chris Risi

It all depends on how bad the house is and if it needs everything, including all the internals like plumbing and electrical. Depends how much a contractor charges. I worked previously with a contractor who did "down to the studs" remodels for about $35/square foot. If that were the case here, for a 2,000 ft house, would come out to $70,000.

Have you used the fix and flip or BRRRR calculators on Bigger pockets? They are SUPER helpful for your analysis and will probably help you understand how much your new mortgage and monthly expenses will be...

For someone starting out, i think learning how to analyze deals really well, then finding deals to present to a friend/family/coworker with money to partner with is a great way to jump right into your first deal, without having a ton of personal capital to start.

If you don't know anyone personally with  money, you can always try to network on here after finding a good deal to see if you get any interest. Cheers

It all depends what you are passionate about! If you're wanting to be a full time real estate investor ultimately, then I'm not sure if you'd need the extra schooling. You can also try to start right away with almost no money, if you get good at analyzing deals and find a friend or family member or other person who could be your money partner to get started!

Thoughts?

Hey Jordan, Are you open to other markets? Or just Kansas City? Just curious! Most of what i do is in Phoenix, AZ.

Cheers

Hi Mariu! My office has a location in Athens! Would you like me to connect you with a good real estate agent in our Athens office?

Thanks!

Chris

Hey @Leonard Wright III! thanks for the comment. I really like the area between 24th street-36th street and Camelback all the way south to about Oak Street...

I always tell people (including myself) to become insanely good at analyzing deals, then learn how to go find them. The Bigger Pockets calculators are helpful for putting a polished analysis together to present to investors. I'd say start with friends, family, coworkers for sure. If you don't really know anyone who wants to invest, you can always just post on the BP forums straight up asking people if they're open to partnering. You can shoot me a DM if you want to discuss anything else in specific

Cheers

Hi @Gina Kim I also PMed you. I'm a big fan of Phoenix, AZ. Even though prices aren't as low as some other markets, especially midwest, I find the rental market to be consistently strong and growing...

I'm obviously biased as I'm a realtor, but I do think realtors can bring a lot of value. Not necessary by any means, but why not use an agent to help you find a property, negotiate and write the offer? It's free for buyers!

Hey Valerie!I just saw your post on here. I am a realtor in both CA and AZ and have done investing/flips in both states!Let me know if you want any help analyzing your next deal. I'm always around to help! You are looking in Long Beach Currently? Have you considered other cities/towns as well? Just curious!

Hey @Timothy Vint I have personally gone both routes. One of my projects, I hired a contractor who handled almost everything after the plans were approved, and I have also done a few others where I was extremely hands on. I think it all depends on the type and size of project, of course, and how quickly you want it done. If you aren't in a huge rush, then I definitely recommend learning through Youtube videos (and bigger pockets) and trying to do some of the smaller DIY first.

Of course i wouldn't recomment doing anything too technical or dangerous like plumbing or electric yourself...but I have found that I could do a lot more of a project than I thought I could...hope this helps