All Forum Posts by: Chris Luksha

Thanks for putting that so simply @Chris Gibbs. I tried too hard to say the same thing and it was always babble :) I second that request as it has been my biggest frustration with the BRRRR Calc to date.

Welcome @Ariella Brunkhorst.  Congrats on joining the group. It's a great crowd in here.  I will say that I have yet to find a decent low or no cost solution to your problem.  Everyone needs to make money.  The real problem is that even when you do pay for access, this is access to information that is up-kept by the seller - not the agency you are purchasing from.  For example I use foreclosure.com for alerts, but tried to use hudforeclosed.com to access the images and stats, for $8/ month.  I quickly realized that most information they had was outdated - sometimes by years. 

When I called them on it, they simply said "We can only show you the data as we get it from a listing agent and if they don't update the data - we don't police it." I once went to look up a property that I got an alert from that morning. When I looked it up, the data was over 4 years old and I didn't know until I called HUD directly to see about the house and they said "We sold that house four years ago. It is not ours."

If someone else knows of anything - I hope they post it.  Until then I am sticking to searching homepath.com a couple times a week.

I hope that helps!

Blessings,

Chris

HI @Alex Cole and @Mark Adams.  Welcome both of you to the group.  I too am very new to investing as a whole and am excited to be in this group.  I am intrigued Alex how you got some of your vacancy rates etc for your area?  Oddly enough I tried calling up to the Old Town Community Economic Development group today to ask about the community of Orono and Old Town. I completely skipped over the aeronautics industry when I was looking at the area. I am interested as a hands on partner (contractor) who needs a financing partner, but unlike you, I am 6 hours away in Southern NH. So we are in the same boat but you two have something great that I lack - local knowledge. 

Every once and a while I end up coming to Lincoln for business.  I would love to grab a can of Moxie with either of you the next time I am in the area.  Have either of you delved into the idea of being property managers in your area?  Also do you know of other contractors in your area who you would have come work on a property you owned as an investor?  Just throwing out what's coming to my head.

Blessings,

Chris

Ok so I just listened to Brandon Hall's podcast on show 196 and it was amazing.  Go listen to it. I have a ton of questions from it but here are one or two.

1. What is a passive loss?  

2. There was a section about S Corp declarations and making use of the status proactively if you hit a predetermined income threshold. I was wondering if it was possible to convert my sole prop to an scorp llc and start taking advantage of tax benefits from the beginning of the year? 

3. As a carpenter / GC, can I call myself a real estate professional if I am working on flipping homes primarily? Of course, not knowing what a passive loss is, I'm not sure why it would matter to me :)

Blessings all,

Chris

Thanks T@Tom Brooks. I will read it tonight.

Welcome to the forums David Barnett Way to go whole hog into a non local to you market. I love the guts to jump like that. Keep us involved in how you're doing. I can't offer real estate help or boots on the ground as I am new to all this myself but certainly use the boards here. Good luck in your journey. Chris

I use Ben Moore from my local hardware store but I have to admit, unless you spend the money on the top of the line, you pay for it in number of coats etc. I have had decent success with Sherman but only when a customer purchased it as I don't go out of my way for it. I will jump on the contractor/bulk bandwagon though. It's well worth it if you are going to do more then one room.

What are you trying to register with? If you mean to simply register the domain name so you can have it, go to www.namecheap.com. $10/year or less. You can get domain hosting cheap -and worth it- at hostgtor.com Blessings, Chris

I went to the town offices and purchased an "abutters list" with the out of town address qualifier. But I am only talking a small area of virtually rural towns, not the big city ;) Just a thought. Good luck.

Welcome Denise Filmore ! I wish you great success in your wholesaling. I'm not sure I have the fortitude for wholesaling :) but love that others do. Good luck!!! Chris