All Forum Posts by: Juan V Lopez

Hey @Ellie Narie, someone already mentioned this, but why not get a bigger multifamily building? 10 individual SFH are a lot to manage - a lot more stress too.

With a $200K down payment, you could afford a $1 mil MF property. If you do end up investing in Cleveland, that could be anywhere between 8-24 units depending on the area.

A single building will be easier to manage, maintain, repair, sell, pass off to your kids, insure, etc. Wish you the best, happy for your situation.

My go-to the past few years has been to search through Facebook marketplace for posts like "handyman services" "home repair" "renovations" "contractor". I reach out to a bunch of these listings and meet them at a project they're doing to build rapport. I tell them I'm looking for contractors who work with investors – not overpriced home improvement guys. Asking for examples of previous work is a must. Their licenses and insurance is also good to gather.

It's been easier for me to find reliable contractors lately. These guys were buried for a few years, but now many new investors are out of the game, so contractors and tradesmen are hungry for work.

This is such a good question, Faith. Things have changed dramatically in the last 4-5 months. Earlier this year, people were buying properties in my area of Las Vegas up to 85% ARV because it would probably appreciate even more during renovations.

Now I'm seeing some people scoff at 70% ARV deals. People need it at 60-65% ARV max since by the time they are able to flip it back to market or refinance, the ARV will likely be 10% less than what it was when they bought it.

Definitely looking for steeper discounts, but bigger discounts are able to be negotiated these days, so the tradeoff is there.

I can't speak on using Google Voice with a dialer, but I know that many Google Voice numbers will get marked as spam regardless of its use. I have 2 assistants who use Google Voice numbers with my brokerage and their calls automatically get marked as spam until we ask clients to save our numbers.

I'd say it's worth trying it with a dialer to gauge the response and make adjustments from there.

Super happy for you Lisa, hope you sell this property quickly and move onto the next one! Stinks to hear about that wholesaler/probate holdings things up. I wish they had the same urgency to execute professionally that they do contract properties. The market changed very quickly in that timeframe. I wish you the best either way, the condo looks fantastic!!!

Hey Ben, thanks for sharing. A couple things come to mind:

1) Are you comfortable with this level of work? $100K rehab on a wooden cabin that needs foundation work is a lot of work. Doable? Yes. But it's not for everyone and will require a lot of management & careful execution.

2) This property sounds like it's in a very rural area. It can be very difficult to find people to do work out there since the population is usually not huge. If you are able to do work yourself, then great. But if you have to rely on getting other people there, it may be a huge headache.

These kinds of properties typically sit on market for a while because they're for a very particular kind of investor. Even though the numbers may look good on paper, it's practically not viable because getting people to work it will be difficult.

Hope this helps, good luck either way brother.

Hey Yuri, looks good brother. Is there something specific you're wanting confirmation or critique on? From an outside perspective, $900/mo cashflow on a 4-unit building is solid. Are the rental comps verified by MLS data? Would you be able to refinance afterward and get some cash out after rehab if you wanted to?

A bunch of questions come to mind without knowing the full details, but the main thing is if this fits your investing goals. From that report, it looks like your down payment would be $85K. If you're looking for cash flow right now and want to put $85K to use and have already analyzed many deals, I wouldn't hesitate to get in on this deal.

Wish you the best either way, brother - thanks for sharing.

Loopnet, Ten-X CRE and Compass are good places to start looking for comparable properties. Small MF properties like this can be more challenging to comp without MLS access since they're less frequent than single-family. Have you tried contacting a licensed agent in your area for help?

Hey Alex, is the house on-market? If yes, then a realtor who understands your strategy should have no issue submitting your offers quickly. It's actually their duty to submit all offers.

Personally, we're getting a lot of deals under market value in the Vegas market right now. We're sending multiple offers daily and quickly. Some sellers get back to us quickly with a yes/no. Others say no, but a good strategy I've found is leaving them with our offer with an expiration date of 7-14 days. It's different when they have a written offer in hand and a few days go by with them getting no action on their home. We've been able to lock down many deals like this lately.

Wish you guys the best brother, sounds like you have good perspective of markets to get in on this downturn again.

Hey Alejandro, happy you and your wife are diving in. My advice is not really based on what order to take these courses, but to make sure you guys execute on what you learn.

A lot of people sign up for programs, webinars, events, etc and get the high from learning information. But their execution lags. Whatever you guys end up doing, hold yourselves accountable to putting the education to work. The information is absolutely useful and practical. We just have to bring it to life. Wish you guys the best, brother.