All Forum Posts by: Chris Giuseppini

@Nathan Gesner great recommendations. thank you. 

Where do you find the money?

There's so many topics on "how to find the deal!" But.. what if you have it lol?

I've spoken with hard money lenders... That's definitely not the direction I'm leaning towards. 

I want a 50/50 investor where I bring them the deal and take on the brunt of the managing work during rehab, yet can get experience and tap into their network. 

There seems to be a lack of resources online other than "Find the deal, the money will come!"

I'd really love at least a 5 minute video from BP or some reddit thread. Figured this could be a start to that. 

Thanks:) 

@Philip Coiro Yeah, I'd say you're right with that. I do have an analysis document with firmer numbers. I do have two separate budgets of what can be done for $50k and what can be done for $105k. 

The thing is I'm new and besides using the high end of ranges that I Googled for things that I think the house needs.. I'm not sure what to do to guesstimate better. I'm not going to have a contractor come look at this without it being under contract - I doubt theres any interest. 

And the reason I'm being so vague is because the worth of the house can be bought for half of the ARV. There's a lot that can be done to the property, but really all that needs to be done is ripping up carpet, painting/wallpaper tear down, and updating electrical. That can all probably be done for $20k to make the house rentable.

Thanks so much Brett:) really appreciate this. 

Is there any great resources to do this well? I haven't rehabbed a property by myself yet. If I was handed the keys today, I feel like I'd do a million things wrong. I'm sure if I got caught up to speed I'd have the confidence to do it myself but right here as I sit - it feels really daunting. 

@Brett Tvenge Yes. I have money, just not a W2. 

@Ramon Jenkins Thanks for the tip. I'll check out REIA groups in my area.

Listing the property as is would definitely start a bidding war for the family member. But I have the ability to buy it off market, and have them benefit and I get to kick off my real estate career too. If they sell it on market - I miss my chance. 

I don't have a W2 job. Even though I make okay money, have near perfect credit, my business is half a year old and I don't qualify for a loan. My only option is to go in it with a partner and that's where I'm sweating.

Purchase: $400-$500k (significantly under market value).

rehab: $50-100k

ARV: $750-850k

8% average annual appreciation over the last 10 years.

--------------------

I have a really incredible off market deal at my finger tips from within the family. This would be my first real estate deal, and I'm first in line to take a shot at buying it, and at a discount. I can also likely get a "gift of equity" which would drive down the cost significantly. 

Question: I've reached out to a couple people in my network if they know investors, but while I'm waiting for calls back, I want to remain actively searching. Where can I look? I'm not sure where in this forum would be an appropriate place to find people. 

This is a "grandma" property that has new windows, and mostly needs cosmetic work like peeling wall paper, repainting, pulling up carpet to reveal beautiful original hardwood. Electrical, central air and adding an additional bathroom is on my list. If we want to consider opening up the kitchen, that would be wise for this area. 

Hey! Good question. I've produced plenty of podcasts in my life professionally. 

Steps: 

1. Sync your sound and video. You can do this in a video editing software of choice. 

2. Add compression, noise reduction, bass, EQ to your voice to make it sound real good and real crisp

3. Cut back and forth between the cameras, or if you only have one camera, you're good. 

4. Export it in h.264 web friendly codec and upload it to wherever it is you want to upload it! 

Hope this helps. If you have further questions, reach out! 

@Timothy Brennan Looking to do minimal work such as repainting, appliances etc. I've been using between $5,000-$10,000 for my rehab analysis. Maybe that's on the high end for my goal of "as turn key as possible"