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All Forum Posts by: Chris Jensen

Chris Jensen has started 11 posts and replied 186 times.

Post: How Do You Have Time to Be So Active on BP?!

Chris JensenPosted
  • Rental Property Investor
  • Bettendorf, IA
  • Posts 187
  • Votes 256

@Dhaval Sheth, agreed! My day job is very demanding, I serve heavily in my community, and I never feel like I give enough time to my kids outside of work. So spending even 30 mins on BP comes at great sacrifice for me. We do what we can, right? Keep fighting the good fight my friend.

Post: How Do You Have Time to Be So Active on BP?!

Chris JensenPosted
  • Rental Property Investor
  • Bettendorf, IA
  • Posts 187
  • Votes 256

Sounds like BP needs to be careful... pulling so many daily users away from Facebook, Instagram and Twitter might get the big dogs snarling!

Post: Tips on financing Rehab costs

Chris JensenPosted
  • Rental Property Investor
  • Bettendorf, IA
  • Posts 187
  • Votes 256

@Aaron Bitner I have the same question as @Tara Daniels. I use HML for my rehab projects, and they finance 75% of the purchase price and 100% of the rehab, subject of course to ARV appraisal. It's worked out very well for us thus far.

Post: Utah Fix and Flip Success

Chris JensenPosted
  • Rental Property Investor
  • Bettendorf, IA
  • Posts 187
  • Votes 256

@Shawn Cottle I'm originally from Utah and have thought about doing some real estate projects in Utah County with some family I have out there but am turned off by the high prices I'm seeing.  I'm wondering if you'd share a bit more on how you found this particular property, what tool and method worked in this case, and how it came about.  Whatever you're comfortable sharing.  Thanks.

Post: How many properties do you flip a year?

Chris JensenPosted
  • Rental Property Investor
  • Bettendorf, IA
  • Posts 187
  • Votes 256

@Landon Belk answers to your question will be different depending on many circumstances. For my situation, in my market, my business partner and I do about 5-7 flips per year and target 20-25% profit margin, which we then split 50/50 between ourselves. This is a part-time endeavor for us, so 5-7 is manageable. And I much prefer to look at profit %'s rather than dollars, because it lets you analyze very different projects against each other and against very different alternative uses of your cash. Best of luck as you embark on your REI journey!

Post: How Do You Have Time to Be So Active on BP?!

Chris JensenPosted
  • Rental Property Investor
  • Bettendorf, IA
  • Posts 187
  • Votes 256

@James Masotti, great thoughtful post.  Thanks for sharing your strategies around how you use BP.  I especially appreciate your thoughts on the value and purpose you have on BP and your approach to maybe sharing your own thoughts on your responses but then also including links to key references and resources.  Thanks for the perspective.

Post: How Do You Have Time to Be So Active on BP?!

Chris JensenPosted
  • Rental Property Investor
  • Bettendorf, IA
  • Posts 187
  • Votes 256

@Gilbert Dominguez, wait... so you're telling me that life doesn't slow down after retirement?  My life is so crazy, I'm praying it slows down if and when I can ever retire.  But I'm inspired by your attitude.  I've heard from so many people like yourself that some of their best, most fulfilling years occur after they're able to quit working because they have to and begin working because they want to.  Whether that happens in their 60's or 30's.  Nice, thanks for the perspective.

And there's something to the simpler, old school, gut-based approach for getting through life before things got so complicated and technical!

Post: How Do You Have Time to Be So Active on BP?!

Chris JensenPosted
  • Rental Property Investor
  • Bettendorf, IA
  • Posts 187
  • Votes 256

@Kevin Moules, yes!  Plenty of time for sleep when we're dead.  Sounds like your life is full.  Mine it too, so I can relate.  Much of my real estate researching and learning happens after 10pm, crazy.  Keep up the search for that first deal!

Post: Partnering with contractor - how to split profits?

Chris JensenPosted
  • Rental Property Investor
  • Bettendorf, IA
  • Posts 187
  • Votes 256

@Jim M. you'll likely get varying opinions, but let me share with you what I've done.  I partnered with a local GC with rehab knowledge and time.  I don't have time but I do have financial resources.  After some discussion, we decided to structure our partnership 50/50, because we each feel the other brings as much value to the table as we do ourselves.  Really, it just comes down to that... how much value do you each feel the other brings in relation to your own.  It's a negotiation for sure.

But let me go down a different path briefly. You alluded to the trust that must exist between partners. That is absolutely HUGE. Try to build in some sort of checks and balances that enable you to lead with trust but also have a way to verify. As time goes on and trust is reaffirmed, you might change things a bit.

Another absolutely critical ingredient is communication.  It's easy at first when everything is new and exciting.  But when you're in the trenches, and reality is clobbering you in the face, you MUST be able to get everything out on the table, discuss what's going on, and make hard decisions.

Trust but verify.  And communicate, communicate, communicate.  Nothing new here, just sharing some of the lessons I'm learning.

Best of luck,

Chris 

Post: How Do You Have Time to Be So Active on BP?!

Chris JensenPosted
  • Rental Property Investor
  • Bettendorf, IA
  • Posts 187
  • Votes 256

@Clifford Paul, haha well I'm glad I helped you come to that realization :)

@Anna Buffkin yup your life sounds full. Just like mine. Good for you for making time during the craziness for things that are important to you. I imagine that's a never-ending challenge. Best of luck!