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All Forum Posts by: Christopher Blanco

Christopher Blanco has started 51 posts and replied 483 times.

Post: What's your best real estate deal EVER?

Christopher BlancoPosted
  • Real Estate Consultant
  • Cleveland, OH
  • Posts 511
  • Votes 345

Helped a gentleman whose father was put in assisted living. Needed to liquidate the house, got 0% down owner financing, the son invested in the deal. I got them high double  digit returns and I took home 184% return on my money.

Post: I want to interview experienced Landlords or Retiring Landlords

Christopher BlancoPosted
  • Real Estate Consultant
  • Cleveland, OH
  • Posts 511
  • Votes 345

I am writing a book for retiring landlords. I am looking to interview experienced landlords or landlords over the age of 55. If you have been a landlord of more than 3 properties for 10 years or more, or you are over the the age of 55 looking to retire with real estate, I want to talk to you! Interview can be done in person (if in the Cleveland area), over zoom, or over the phone. I will compensate you for your time, and if I quote you in the book will include 10 copies to you that you can pass out to friends and family. 

If you are interested please let me know here, or shoot me a DM.

Post: Have you put your real estate investing on hold?

Christopher BlancoPosted
  • Real Estate Consultant
  • Cleveland, OH
  • Posts 511
  • Votes 345

I think it depends, if you are at the high end of your ARV's then yes, I would worry a little. If you find the sweetheart deal with plenty of room and a win-win situation, I say go for it. I had the opportunity to pull out of deal I put an offer on in the second week of march, but its at 65% ARV, owner financed with no money down, and a flat interest payment at balloon in 1 year. Even if the market drops 20%, which I don't think it will, I can still rent or sell the property for a profit. I close on Monday and will start looking for partners who might want to finance me out of the balloon loan. I am sure there are plenty of investors who are looking for a safe place to put some money.

I would move forward with cautious optimism and be ready to help people out of really bad situations. 

Post: Need A House Flipping Spreadsheet

Christopher BlancoPosted
  • Real Estate Consultant
  • Cleveland, OH
  • Posts 511
  • Votes 345
Originally posted by @Chris Hains:

Mr. Blanco,

I have 30 plus years of experience in my previous career and would gladly answer any question you would ask me without the need for such condescending sarcasm.  If you do not have something kind or helpful to say please refrain from saying anything at all. 

Chris, 

No sarcasm or condescension intended. So many people come in and are looking for a spreadsheet to estimate for them and they don't understand the basics of what numbers they are inputting. You must understand the basics of what those numbers mean before you have a tool to help.

I apologize if you took my bluntness as sarcasm. 
 

Post: Need A House Flipping Spreadsheet

Christopher BlancoPosted
  • Real Estate Consultant
  • Cleveland, OH
  • Posts 511
  • Votes 345

If you are looking to just calculate profitability, set how much profit you want to make then:

ARV - Purchase Costs - Holding Costs - Selling Costs - Desired Profit - Rehab Budget (including contingency) = Maximum Allowable Offer

IF you cannot calculate those numbers, a spreadsheet isn't going to help you. 

Post: Does anyone here do master leases for apt buildings or other CRE?

Christopher BlancoPosted
  • Real Estate Consultant
  • Cleveland, OH
  • Posts 511
  • Votes 345

I would highly recommend taking David Tilney's Hassle Free Property Management and Master Leasing course. It was the best money I have spent to date. I believe there is one in Florida in May

Post: Newbie Out of state investing in Ohio

Christopher BlancoPosted
  • Real Estate Consultant
  • Cleveland, OH
  • Posts 511
  • Votes 345

@Gregg Nagano

Sent you a PM as well, but what kind of investing are you looking at doing? Long or short term? Flips, rentals, transactional? 

Post: Stay away from Lima One

Christopher BlancoPosted
  • Real Estate Consultant
  • Cleveland, OH
  • Posts 511
  • Votes 345

You should try Fund That Flip! I work there and they are awesome. 

Post: Seller Financing Advice

Christopher BlancoPosted
  • Real Estate Consultant
  • Cleveland, OH
  • Posts 511
  • Votes 345

Find out what their pain is, if they tell you that a sale at their asking price is their only option they aren't being honest with you or themselves. Talk to them, find out EVERYTHING you can about them: family situation, kid situation, parents wishes for the home, financial situation. Ask them OPEN ENDED questions and be quiet, let them talk and they will spill all the information. Then you craft a deal that fits their situation. Also I would recommend 3 or more offers with different terms that ALL work for you, but solve their needs. For example:

1) Cash offer of 70% of ARV - repair values. You get them to accept that you will have zero problems finding funding for your deal.

2) Seller financing offer, $10K down and $600 a month until note paid down with a 5 year balloon

3) Leasing offer, Master Lease at 90% of rents collected with bonuses for paying early. 

Post: Help... Newbie is drowning...

Christopher BlancoPosted
  • Real Estate Consultant
  • Cleveland, OH
  • Posts 511
  • Votes 345

@Donald Thomas

Before you define your plan of attack, what are your goals? What do you want to accomplish? Without knowing where you are going, its going to be hard to get there. If you have never invested before, investing out of state is a bad idea (unless you have someone on the ground in the market you are looking for).