All Forum Posts by: Dillon Lopez

Hi BP, for those who are seasoned, in the process or working on this yourself- how do you go about presenting opportunities to get friends and family in on your investing. Do you simply ask, create a presentation and offer them insight to what they would gain.

My stance is - id love to get into a straight up flip. I would also like to make it known I would do some work myself ( bathrooms, some flooring, trim, hardware ect....) so there would also be some savings in the labor. Sublet things not worth my time or best suited for a pro.

What I would think is important to go over would be the following , if you agree , disagree , needs more or think something is not necessary please share!

not in a particular order.

Location

Price

Value after repair (along with presenting comps)

Money needed

What they will gain

When can they expect it

How long it will take

What they need to do

How they will get paid/want to get paid

-What I will do, what I’ll do to create even bigger returns ( do some work personally )

Any input is great. Would love to see how/what seasoned or others are working on. Hoping this will also bring good information for others working on their business plans and presentations!

Happy Selling.

Dillon

@Mikhail Katz

Thanks for your thoughts! Also I am a huge fan of asking questions. And am hoping anyone who makes it this far down the thread is getting something of value.

@Bill Goodland

Great input! Thanks! - stating 0 money not because I don’t have any. But looking to be as resourceful and seeing if experienced persons may now have the hindsight or tools that I could even apply.

Thanks!

@Wilson Lee

You’re a good guy, which is great!

Facts are, it’s yours not hers. Be polite yet concise. YOU have rights. SHE has rights. In this case you’re doing everything right - but being a good guy needs to have its boundaries. Depending on your states law, give a notice it’s going to be viewed. With her concerns about not being able to remain in the unit; just tell her if you find out that information she will be the first to know ( because you’re a good guy ).

Come to an agreement about the remainder of the lease, convert to a month to month( if allowed, not sure of your state laws. But if both parties agree I don’t think it’s a problem) so no ones tied down and can move on quickly.

Now- if she’s being adverse and difficult, and infringing on your rights or opportunities. That’s a problem, make her aware of what you might have to do. My take is that emotion needs to be removed in the business side, keep to facts, laws, rights and be clear. It’s great to be nice and have a good relationship with tenants but don’t get involved in their personal wants.

Just my opinion. Best of luck

@Frank Wong

Thanks for the input- currently what you mentioned are in my goals and business plan for the year. I do enjoy all the facets of sales and am lucky I can support myself now and everything else I will get done will be a huge push towards.

@Terry Lao thanks! Good read

@Russell Brazil I think I’m in the same boat! Attacking personal debt and setting tangible goals for these next few months. Already seeing week by week improvements. I’m excited for longer term goals being met if these little victories are already creating such satisfaction now. 6 months ago I didn’t see myself paying off 1 credit card. And now, I’m almost there by applying firm commitment. Thanks for your insight! Taking your input with great consideration. Not to sound repetitive amongst this thread but the support within and hour of just asking for help/insight is already affirming that I’m on track and not alone! Thank you!

Kind regards,

Dillon

@Kevin Wang thanks Kevin! Yes exactly, being vague to instigate these exact responses! But there’s a reality that in my market we need considerable capital to start. But that’s my exact plan now, is to sustain my household with my current job while creating the capital to start what I really desire throughout this year. I was listening to an older podcast from bigger pockets and simply put , our workload/project will fill the time we a lot ourselves to have. I am

Giving myself 6 months to close on 2-3 deals and am already on track. I’m excited and already appreciating input from this community. Thanks !

@Ned Carey thanks for reply and input! Exactly what my mindset is, thanks for the affirmation. I’m alone at this point as in amongst my friends and family- none have pursued real estate ( which is good , and am eager to be their resource ). Appreciate and taking your input to heart.

Kind regards,

Dillon Lopez

See my first post for more about my goals! But...Simply put, what would/have you do or done if you were starting out with what you're currently doing now with NOTHING! Could you do it, what would you need to do what youre doing now and how would you do it!?