All Forum Posts by: Juan V Lopez

Nice Brett, congrats! Does it need work or turnkey? You're planning to keep as a rental?

Daniel, what's the purchase price? Estimated rehab? What are ARVs in the area? How are you buying (cash, hard money, private money)? Who will do the work?

If you want to get people to offer you solid help and guidance, give us something to work with and you'll get more specific help.

Saying this to you from a place of help and support. Wish you the best, brother.

Hey Fahadbin, we're technically already in a recession so most people react to this word in 2 ways:

1) Go into defensive mode and look for security.

2) Go into offensive mode and look to grow aggressively.

The news is the last place you want to get updates on the market. Anytime you turn on CNN, CNBC, etc, all the news is negative and doomsday.

Truthfully, the best sources are right here. Stay tuned in to the BP podcast, follow your local market trends and connect with people who are being aggressive in real estate. Those are the ones that are making the market, not hoping and waiting for it to crash.

Wish you the best.

Truthfully, there are hundreds of lenders. You can Google search for some and find a ton. Shop around for rates, ask questions, get sample term sheets, ask for examples of previous projects their investors have completed. DYOR and be thorough.

OfferMarket was a great resource to me on a fix & flip I completed earlier this year – https://www.offermarket.us/. Daniel Sperling-Horowitz was my rep. If you want his contact info, send me a DM since BP won't allow phone numbers or emails to be posted.

I'm not affiliated with them, just sharing a good resource. Wish you and your husband the best!

@Jameson Waltz - congrats on the rental. Scaling is always a challenge. Some suggestions:

• Look into any other equity you may have – do you have equity in your primary residence or in the rental you can use as a HELOC or cash-out refi

• Denver is tough (I lived there for 4 years and the market is damn-near California levels), so begin exploring other markets you feel knowledgable about. Once you can find a solid property, you can acquire it with hard money. This is a short term-loan, but it allow you to acquire property, add equity to it, renovate it to pay off the hard money loan and keep it.

• Connect with DSCR lenders – I've closed 1 property with a DSCR lender, so granted I don't have a ton of experience with them, but this is a viable option. They don't look at your income or debt, only the income of the property.

• Consider fixing and flipping to acquire more capital to acquire more rentals – this scares a lot of people, but truthfully, you need some money to keep buying properties. If you can find good areas outside of Denver to flip and make decent gains, you can translate that income into rentals.

Keep your head in the game and stay creative, brother.

Masterminds have been essential to my growth! Don't know what you're missing until you meet with people who are doing it bigger than you. If anyone is masterminding in Las Vegas, let me know.

Hey Maria – our flipping will not slow down. If anything, we are getting more aggressive on sending offers since people tend to panic in times like these.

2 primary things to lock in on: 1) Conservative ARVs and 2) Buying at great prices.

Money is made on the purchase, so if you're strict about buying right and within your boundaries, you can absorb a dip in the ARV when you sell.

Herb, great job bro!!! Keep going, super happy for your success. Great flip.

As cliche as it sounds, BP is probably the best source of tactical & practical resources and commentary on buying, selling, renovating and owning real estate. I keep close tabs on the forums here and the BP Facebook group.

You sound like a high D on the DISC assessment (assertive, goal-oriented and demanding – which I am too), so some real estate IG pages I enjoy that are: @atmybest197 @flipping_nj @9to5millionaire @davidgreene24

David Greene is one of my favorite most practical real estate people. I really listen when he talks.

And truthfully, the more you're in the real estate game, the more you come across people who view the world as you do – to the point, practical and useful.

Wish you the best bro, keep going.

Hi Larry, I actually just had a similar situation. A home we owned in Reno NV had about $500K in equity, so we cash-out refi'd it this summer. Took out $300K and at a 6% interest rate. Not ideal, but I knew the market we were going into was going to recess a bit, so I wanted to have cash ready for acquisitions.

Our plan:

• Sell the home in Reno within 3 years (market should be back up by then) and capitalize on the remainder of the gains.

• Our old mortgage was $1400/mo. New mortgage is $3100/mo. $1700/mo difference. My wife has a big need for security, so I separated 3 years of these extra mortgage payments into a separate account to make up the difference ($1700 x 36 = $60K). That way, she feels secure and we still have extra cash to invest.

• Invest the extra $250K into more cash-flowing assets during this market dip.

That was my approach. Hope this helps. Wish you the best, brother.