All Forum Posts by: Casey Valbuena

@Shuvrajit Mukherjee congratulations! Can I ask you a few questions? Sent you a connection request. Thank you

@Mike Klarman in that case I will be the one putting money into the deal. Thank you for this info regarding HML. That is why I want to build up a solid emergency fund/cash reserves before I really jump in.

Quote from @Caleb Brown:

It can work. The biggest risk is what if the contractor stinks or they go cold? Then you have to hire a GC and basically do the whole project yourself. On your first one I would recommend doing yourself unless you partner with an investor who is experienced. Down the road if you connect with a solid GC then you can think about partnering 

 Hi, that would probably be the risk so finding a really good partner is necessary. What do you mean by hiring a general contractor but doing the whole project by myself? Can you enlighten me please, thank you. I'm not really knowledgeable about most part of RE yet.

Hi everyone,

I've been reading the book "Real Estate Rookie" by Ashley Kehr, this one chapter about Partnerships states that the things you can "bring to the table" are Equity, Sweat Equity, Debt, and Capital.

Equity: your stake or share of ownership in a company
Sweat Equity: performing physical labor in exchange for a share of the company or the property's ownership
Debt: assuming the risk by having the mortgage in your name
Capital: providing cash to start the investment

My question is, for a FIX & FLIP, is it a good strategy to look for a contractor as a partner who will be doing the active work/sweat equity while we use my name to loan from a Hard Money Lender?  Given that the contractor will get most of the profit.

The reason I thought of this strategy is that I am on H1B visa, and I am not allowed to do active work besides my current W2 job who sponsored my working visa. I could invest in Rental Properties (which is my ultimate goal) with Property Management for it to be totally passive, but I'm hoping to do a fix & flip to help me raise capital for my first investment & pay some debt that I still have (medical bills).

Your insights will really be appreciated.

Thank you!

Hi Alan, this is amazing! Question, may I ask how you financed the costs for renovation? Did you have cash/savings or used OPM?

@Sheryl Sitman Hi! Thank you. I've connected with them and really looking forward to setup a meeting in the future. I also joined Philadelphia Landlords Connect Facebook Group to gain knowledge for when it's my time to manage my own rental property.

@Cate M Beaulieu Hi! Congratulations on your baby! 

That's awesome, I'll be glad to connect with you

Quote from @Matt N.:

@Casey Valbuena

You are doing all the right things. Nice work. I was an early jumpstart grad and it was the coolest class I ever took. 

One piece of advice, find an agent who is local and knowledgeable about Philadelphia specifically. 

ALSO! - The seller pays the agents, not the buyer, so enlisting an agent is free to you, and will help dramatically as long as they know the city well. (I can help) but don't get sucked in by a big company who hires good looking children to sell homes. Find a good, local, who is also an agent, and who also invests in Philadelphia and they will be extremely valuable. (also me but find anyone like this!)

Best of luck and reach out anytime. 

Matt

 @Matt N. Hey! We just had our first session yesterday and it was very informative. I am sooo excited for the next lectures we're going to have. 

Do you also serve in Norristown and nearby areas? I'd be happy to connect with you!

Quote from @Isan Sahoo:

Hi Ratana,

I’m new to short term rental area and I’m also on H1b visa. I wanted to know, is it legal for H1b visa holders to do Airbnb and vrbo? If yes, what steps you took?

Thanks in advance!

Hi, 

I am currently on H1b visa too. Since we cannot earn active income but can build an LLC, you must have people work for your airbnb (ie. property manager) for it to be considered as passive income; that you are just the owner and investor. This is just based on my own research, I haven't done it myself. Make sure to consult your immigration lawyer before proceeding. Good luck, I will be happy to hear from you if you proceed with your plans! 

Casey

@Matt Barth right now I'm putting in more hours in my w2 job while educating myself as much as I can, so when I have enough saved for down payment and reserves I would be knowledgeable enough.

@Eliott Elias indeed! thank you for your insight.

@Josh Bowser awesome advice, thank you!