All Forum Posts by: Charles Carillo

Awesome post and very inspiring! It is so great to hear these stories.

Buyer list is key for wholesalers. You can start building that by networking and finding deals. It really costs very little to start wholesaling.

One lease with all tenant signatures. Also, when your current tenants move in their boyfriend or girlfriend, they are added to the lease and a background check is run. It is funny how that regularly happens and just after the lease is signed but they never mentioned it during all of your pre-move in conversations.

I am not a real estate agent but with rentals and tenants, in my experiences, every time religion came into the conversation or it was used as some sort of reference or credit, I needed to block that out and make the rational decision. 

When I looked back on it, if I would have gone the other route, I would have lost money.  

There are people of every faith that pay rent and people of every faith that don't pay rent and get evicted. I would just disregard any religious talk since it has no bearing on the transaction at hand.

There is a ton of "buzz" around real estate investing and syndication specifically over the last few years and seasoned investors are cashing in on their experience, which is fine but a number of these programs are most beneficial for investors with some experience. Finding a local investor to partner with while learning online is a great way to start. As you are getting into more complicated transactions, a mentor with experience in these deals will be required. 

I also agree, do not get your real estate license unless you want to be an agent. You are held to a higher standard with your other real estate activities.

It would be easiest and most private to open a UPS or FedEx store mailbox and use it for every address; from your company to your PM. Every address (involving your company) will be the same.

It is normally best to find all of your vendors via referrals. How did you find this contractor? He needs a license, liability insurance and workman comp. Also, make sure the license fits what he is doing. If he is building an addition to a home, he cannot use a handyman license. LLC says nothing about him, a license or his work. It just says he spent $200.

Hi,

Self-managing doesn't mean you need to do everything yourself; you are pretty much the GC for repairs and maintenance. Start finding and hiring handymen to delegate some of the management activities. You will need to go through a few before you find a good one but it will save you time and headaches in the end.

Hi Tyler,

I am originally from Connecticut and have a portfolio of multifamily in New Britain. I am not sure about Groton but New Britain is a cash flow market, not much appreciation. CT is not a landlord friendly state but if you have boots on the ground and the deals are good, you will make money. I am now based in Florida where there is both appreciation and cash flow. If you are investing in a syndication, it is much easier to invest across state lines. Otherwise you need to build a new team in each market which is very time consuming.