All Forum Posts by: Juan V Lopez

Hey @Darren Redfearn, be weary of this one - it may sound good from the surface to get a reliable tenant in there for the long-term, but they're usually looking for a discount and perhaps wouldn't be strong enough on their own if they had the same variable as everyone else. Same thing for people who want to pay a year of rent ahead of time.

Personally, I wouldn't do more than 1.5 year lease with an option to renew. This way, you can stipulate your rent raises and have an out if for some reason the tenant doesn't turn out to be good.

Sorry to hear that, Lori. My property managers have dealt with this in the past at my properties. You can go 1 of 2 routes:

1) Vinegar: There should be something in the lease agreement that states the tenant must cooperate with showings. If the tenant is uncooperative, that becomes breach of contract. If a tenant is not cooperating with showings or inspections your option moving forward is to serve the tenants with a “three-day notice to perform covenant or quit.”

2) Honey: Offer the tenant a bonus or rent reduction if the property is sold. "If the property sells within the first 30 days, we'll give you a $500 bonus. If it sells in the first 60 days, we'll give you a $250 bonus." Something you're comfortable with offering. This is to hopefully get them pulling in the same direction as you and presenting the property in a good way to potential buyers. Having a good conversation with the tenants may be good to smooth some things over.

I hope this helps. Hate when this stuff happens and people are disrespectful.

Good observation, Riaz. I think the same can be said for a lot of other real estate-related things in the near future:

Many people who became new realtors in 2018-2022 will leave the profession, many new investors, many new wholesalers, many new STR owners ... People naturally went after it when the getting was good, but now that things are tightening up, I can see a lot of people getting out of the game. Fat being trimmed from the market.

Hey Nicholas, hopefully someone local in the DC area is able to give you good insights. If you don't get a solid response, I'd recommend contacting your local Real Estate Division and asking personally.

I asked the Nevada RED about a few things specifically pertaining to my situation that other people gave me differing advice on. It's always best to go to the source. Last thing you want to do is follow someone else's advice and it ends up being wrong. Makes more work and headaches for you. Wish you the best.

Hey Sean, hopefully someone here is able to give you knowledgable insight. If you don't get any solid responses here, my advice would be to connect with an investor-friendly RE attorney here in Nevada who can help you set this up the right way.

I've made multiple mistakes with my entities in the past and now solely rely on my attorney to help me sort it out. I invest in Chicago, but I'm sure you can connect with a good RE attorney here in Nevada. Wish you the best on your future move.

Hey Damein, I think this totally depends on your goals, how hands-on you want to be, what you want to achieve, etc.

Me personally, I'd use that $100K to purchase 2 2-4 unit properties in the midwest, renovate and flip them, make between $100K-$140K profit on the flips. And then take the proceeds I have at that point and acquire a larger building (8+ units). Renovate it, rent it and refinance it.

This whole process may take you 1-2 years, but if you can do multiple at a time, it accelerates your growth and returns.

But we're all different. Our risk tolerance is different, our hands-on preferences are different. This depends on you, my friend.

Sohail, hey brother. I echo the comment that was made earlier by @Andrew Postell.

Analyzing market data as a remote investor is one thing, but having a strong team on the ground who actually knows the areas block by block is the key. I've acquired 18 units and completed 9 flips in Chicago all remotely in the past 4-5 years and started by connecting with a very strong realtor. She connected me to contractors, property managers, etc. If you are investing remotely, a real estate professional knowledgable in that city will be your best friend. I had to go through a few realtors to find my person, but that's part of the game.

Compensate them well, treat them even better and create a good working relationship.

Hope this helps, wish you the best.

Hey Jordy, good on you for getting started man. My recommendations:

• If you're going to stay in CA: Househack. Absolutely househack to get started. Gain equity and save yourself some rent for a while.

• If you're going to invest out of state and build a team remotely: Look into the midwest. These are easier areas to enter and you can leverage your cash better. It will make you a stronger business operator since you won't be able to check on your projects routinely yourself, but it allows you to scale more quickly.

I was living in Denver when I started investing in Chicago and I hold 90% of my portfolio there til this day. DM if you need any specific pointers brother, wish you the best.

I'll never forget this, but the first investment property I ever purchased was the very first one I viewed on the MLS lol. It was fate. Maybe because I had fomo or just dumb luck, but it ended up as a great investment in Chicago.

Hi Craig, I've always had success finding contractors on FB marketplace and getting bids. This would be a great place to start if you don't get any responses.