Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime

Let's keep in touch

Subscribe to our newsletter for timely insights and actionable tips on your real estate journey.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
Followed Discussions Followed Categories Followed People Followed Locations
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Diego Alvarado

Diego Alvarado has started 4 posts and replied 204 times.

Post: Is Flip Coach by Ryan Kuhlman Any Good?

Diego Alvarado
Posted
  • Real Estate Agent
  • Flower Mound, TX
  • Posts 207
  • Votes 95
Quote from @Jeronimo Loscher:

Hey Chris, it is great that you are asking if it works or not I had the same question.

My story is similar to most people. I wondered how on the TV shows there where people that bought distressed homes, fixed them, sold them and made a profit, then I saw an ad on TV late at night about a program on how to flip properties, I started doing some research about that program and found out the most people were not happy about it, and the main reason is because they assign you to someone that it is not willing to dedicate the time to teach somebody that has zero knowledge of real estate. So I kept looking for a local program near my area, And this is when I found the Flip Coach program by Ryan Kuhlman, I actually went by his office to see if they had physical presences here in south Florida. After doing my due diligence I decided to schedule an appointment with Ryan.

The first thing Ryan told me was, ¨you do not need any real estate experience, and do not worry about the money to fund the deals, I will teach you from no knowledge to closing a deal¨, so I decided to jump into my real estate journey. It was the best decision I ever made.

If you are wondering if I have made money with the program? The answer is yes! Did Ryan guide me through the whole process? The answer is yes he did!

I am still working on deals with Ryan after 2 years. He has been there for me every step of the way. If you are committed on your real estate career, and this is the part of real estate you want to embark on, to answer your question at the beginning, and as a student of Ryan myself I can tell you that it works 100 %!!

Good luck!

 This is really scary, if these two new BP users just created an account and reply to this post but they don't comment on Ray, I will be running if I was you. Same tactics will be used during the course for you to spend money.

Hey @Chris Diaz you are also new here, are you Ryan?

Post: Rental Posting - Not many leads

Diego Alvarado
Posted
  • Real Estate Agent
  • Flower Mound, TX
  • Posts 207
  • Votes 95

Hi Nicholas,

It is common in most market not to get a lot of leads, mainly when the price is high, but it takes around 2 weeks to a month to really find the right person.

Make sure that you are in the ranges that other rental properties are in your area.

Post: Creative Financing Alternative to MLS Listing. (Personal Home)

Diego Alvarado
Posted
  • Real Estate Agent
  • Flower Mound, TX
  • Posts 207
  • Votes 95

Hi Hector,

I assumed that your house is expired now. I would need to know more to help you. What you are asking is the same question that everyone has when you start in real estate investment.

The solution for financing is what Jay mentioned.

I think you need a real estate agent that can help you here. Real Estate Agents should be the ones that should give advice on this.

Post: Portfolio Advice (Need help)

Diego Alvarado
Posted
  • Real Estate Agent
  • Flower Mound, TX
  • Posts 207
  • Votes 95
Quote from @Nathan Frost:
Quote from @Diego A.:

Hi Nathan,

I would try to rephrase to make sure I understand better. You have two properties, which are in a blanket mortgage and you use a property management company to manage them. The numbers get tight as soon as you get some vacancy over the years.

Your idea is to grow your portfolio taking cash out of your 2 properties so that you can buy two more to balance and have  better cash flow.

This is how I would look at it:

- Properties are constantly in red, if a few vacancies are causing you to get in red you are not building your reserve fund.

- To expand your portfolio you have to think on doing self-property management, or refinancing to get more properties won't resolve the issue and add more problems. You have to be careful on taking this decision.

Problems to solve:

- Reduce vacancy.

- Improve in property management.

Then you can think on expanding your portfolio.

A good investor would need to have the hands on the ground to make sure that they understand what is going on.

Could you take a look?  I mean the property management does well.  All are rented but one.  I do need to create a nest egg which I am working on.  Just don't want to take on cash out refinances if don't have to.

 Yes, sure. DM and I would look at it and give you feedback.

Post: Anyone open for Partnership for Fix & Flips in Dallas TX, Experienced

Diego Alvarado
Posted
  • Real Estate Agent
  • Flower Mound, TX
  • Posts 207
  • Votes 95

I am up to meeting other investors and discuss strategies and possible partnership.

Post: Portfolio Advice (Need help)

Diego Alvarado
Posted
  • Real Estate Agent
  • Flower Mound, TX
  • Posts 207
  • Votes 95

Hi Nathan,

I would try to rephrase to make sure I understand better. You have two properties, which are in a blanket mortgage and you use a property management company to manage them. The numbers get tight as soon as you get some vacancy over the years.

Your idea is to grow your portfolio taking cash out of your 2 properties so that you can buy two more to balance and have  better cash flow.

This is how I would look at it:

- Properties are constantly in red, if a few vacancies are causing you to get in red you are not building your reserve fund.

- To expand your portfolio you have to think on doing self-property management, or refinancing to get more properties won't resolve the issue and add more problems. You have to be careful on taking this decision.

Problems to solve:

- Reduce vacancy.

- Improve in property management.

Then you can think on expanding your portfolio.

A good investor would need to have the hands on the ground to make sure that they understand what is going on.

Post: Flippers, how did you figure out accurate pricing/negotiations with contractors.

Diego Alvarado
Posted
  • Real Estate Agent
  • Flower Mound, TX
  • Posts 207
  • Votes 95
Quote from @Account Closed:
Quote from @Bryan Hartlen:
Quote from @Bruce Woodruff:
Quote from @Bryan Hartlen:

you can always negotiate and see if they’re willing to discount. 

In my many years of experience, if a GC would even consider negotiating, that would be a huge RED FLAG. We all have our margins, our exclusive costs and our profit/overhead. People think we just add in an extra few thousand for negotiating purposes? No.....that's not how it works. I guess only other GCs understand how this pricing thing works....?
In our experience, we've almost always had success negotiating. And I'm pretty sure I understand how their pricing works. We understand that GC's need to make their margins and we want them to be around for our next properties. We're always looking for a long-term relationship. 

 I’m assuming you can negotiate prices if you have experience with rehab costs. Would it be best to leave the negotiations out until you have more experience? 


 Few things here, first you can read "The Art of Negotiation" by Tim Castle.

Negotiation doesn't always mean to get the price down for the same work. Negotiation means to adjust our goals so we can get the same results. (Both be profitable)

In a contractor/investor relationship when built you need to find a real partner with whom you can negotiate so prices don't scale. 

In the experience, there are some contractors that overpriced to mitigate the risk of the unknown. Other overpriced to get a higher margin depending on the area that the project is, the people that are dealing with, etc. 

All this is in you to identify what best you can do with what you know.

At the end, this partnership will build on trust or you won't be able to sleep at night.

Post: Flippers, how did you figure out accurate pricing/negotiations with contractors.

Diego Alvarado
Posted
  • Real Estate Agent
  • Flower Mound, TX
  • Posts 207
  • Votes 95

You might get a difference of 50% more or less between contractors, the idea as many here mentioned is that you have to make sure you itemize as much as possible.

Flipping is a project management work, and you have to be very organized.

Saying all this I was thinking that it should be a better way, this can be automated, but it seems that there is no something that everyone is willing to pay so that is why no much solutions out there.

@Clint Jusino I will reach out to get a peck on your spreadsheet, I am also planning on a new flip now and estimating cost is the most difficult part.

Post: Land Flipping Beginner

Diego Alvarado
Posted
  • Real Estate Agent
  • Flower Mound, TX
  • Posts 207
  • Votes 95

Hi Ian,

In a recent episode of the BP podcast I heard saying one of the host (I don't recall who was), that he started making a deal with an investor with no money but he will do all the work. The caveat here was that it was family.

So answering your questions:

- A course could be good, but I haven't done any, always my recommendation is to have your hands dirty. Start low if possible, offering yourself to the companies, and listen a lot of podcast from people that did this.

- Partner is always better, but to put your name out there you have to do it yourself. All depends on your goals.

- It is possible, but it will be long hours.

- Walk the neighborhood and knock the doors, the conversion is greater but you have to be there.

Post: How to get ARV comps in TX?

Diego Alvarado
Posted
  • Real Estate Agent
  • Flower Mound, TX
  • Posts 207
  • Votes 95

I would recommend to work with an agent. You can make it your own with Zillow or other looking at the sold data. That would give you an idea, but an agent will be a more precise ARV with real comps and also can recommend you the areas.

Metroplex is big so also check that the realtor is experienced in the market area that you are looking for.