All Forum Posts by: Christian Margis

Happy to have you come down to Chicago and check out some of our active projects! Happy to help you out in any way I can...Let me know what type of connections you are looking for and I can provide some referrals.

P.S. I am actually from Elgin! We may actually have a large job coming up there as well.

Thank you! I would really a appreciate the opportunity to see what someone is actively working on and getting a look as to what goes on behind the scenes. What kind of project do you have going on right now?

As far as connections go I’m just kinda looking to build a network right now as I know it’s less about what you know more about who you know, I have talked to a few lenders that I got off the lender finder tool, but if you know any other ones that have experience with funding BRRRRs I would love to talk with them!

0 Votes

Joliet, Illinois

Quote from @Alecia Loveless:

@Christian Margis Be sure to really vet your deals once you have your down payment money saved up. I looked at a property today that my contractor looked at me with and he gave me some figures and I said that I needed $500 more in rent which turned the project into something else and we quickly decided it wasn’t worth it.

Know your numbers, don’t try to force a deal just to buy something because the correct deal will be just around the corner.

Thank you! I appreciate the bit of advice!

1 Vote

Joliet, Illinois

Quote from @Alan F.:

Quote from @Christian Margis:

Quote from @Rick H.:

Hi Christian, welcome to BP! BRRRR can be a great strategy, though I do not feel that it is the best for starting out. It is much more difficult than many make seem to fully cash out and not end up with at least some of your own capital tied up in the property. You have to buy really cheap and/or use your own cash (no financing) for the purchase and repairs to have a chance at making it happen. I would suggest doing a few flips first to raise some capital before looking to acquire rentals. It's pretty much the same concept and I really don't think any riskier. You can always start with a property that would also make a good rental in case, for some reason, you are unable to sell it. Good luck!

Thank you! I was originally thinking of doing flips to build capital first but have heard several things about a potential recession in mid 2024, which I’m honestly not worried about too much except for having it sit on the market for an extended period of time. What are your thoughts on that? I just don’t want to have to pay for holding costs for several months while trying to sell the property.

Nobody knows what the future macroeconomic picture is, build your SOP's, define your criteria and that will help eliminate fear of the future. Always have an exit strategy. Gobble up more knowledge from BP, use the search function and so SO many of your questions and concerns can be answered. Save $, cash is king. At your age you have immense opportunities, oh & take care of your dad...trades are rough on the body ;)

I wish you all the best, and remember this isnt a get rich quick game, as many others have said its not about timing the market, its about time in the market.

Thank you! And yes I plan on doing majority of the hard work, with my dad more being there to teach me how to do it, I also have a buddy that will be helping do some work as well that is my age. And I have no intention of getting rich quick lol, I just want to build a future for myself and my wife so we can eventually live the financially free life we want.

2 Votes

Joliet, Illinois

Quote from @Rick H.:

0 Votes

Joliet, Illinois

0 Votes

Joliet, Illinois

I am very new to the real estate scene, I am 24 and want to begin my real estate investing journey. I began by getting my real estate license not really knowing what it meant but just knew that I want to get into real estate. That was a couple months ago and I have learned so much valuable information about this industry in that time and learned about the bigger pockets community, and have been listening to the real estate podcast and the rookie podcast pretty much religiously and am in the middle of reading David Green's new book Pillars of wealth which has changed my perspective on a lot of things in my life money wise. After having getting my license, learning that I really do not need it to invest in real estate and knowing that selling houses as an agent is not for me, my father and I have decided to get into the investing side of real estate (he has a background in roofing and renovations). We want to do a BRRRR and are currently saving up for a down payment on a property. This is my first post and am just looking for any guidance I can get. We are located in the Chicagoland area (I'm near Joliet and my father is near Elgin), and I know it is important to provide value, at this point I'm not very sure what I can provide but I would be happy to do what I can to provide value in exchange for even a chance to be taken on shadowing trip to a project someone is working on or getting any guidance I can. I am excited to start this journey to start working toward financial freedom for my future and my family's future!

1 Vote

Joliet, Illinois

All Forum Posts by: Christian Margis

Christian Margis has started 1 posts and replied 6 times.

Post: Noobie to this scene, looking for guidance and support

Post: Noobie to this scene, looking for guidance and support

Post: Noobie to this scene, looking for guidance and support

Post: Noobie to this scene, looking for guidance and support

Post: Noobie to this scene, looking for guidance and support

Post: Noobie to this scene, looking for guidance and support