Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Christina Venegas

Christina Venegas has started 11 posts and replied 29 times.

Hi Bp!

thinking about getting a multifamily in hemet ca. does anyone here know if hemet is good for cash flow or appreciation? I appreciate your comments!

Quote from @Bjorn Ahlblad:

Not a big deal unless the tenant is not paying. Investors buy properties with tenants all the time! I know I have and I prefer a property with a paying tenant.


 what are the reasons why an investor who buys properties with a tenant would not buy it 

Post: Why most Wholesalers Fail

Christina VenegasPosted
  • Posts 29
  • Votes 8
Quote from @Tom Krol:

The journey of Wholesaling Real Estate can be VERY rewarding. Just like with any endeavor in life, victory does not come without a lot of heartache, sacrifice and struggles.

When you’re first starting out on your Wholesaling adventure (and “oh boy” it’s an adventure), you are going to have many “gut check” moments.

This, my friends, is where the rubber meets the road. This is right about the time when most of you will give up and throw in the towel. You will become scared. You will become confused. You will wonder if Wholesaling is for you.

This happened to me when I first started out in Wholesaling. This is totally normal. In fact, if you are NOT experiencing these types of thoughts and feelings, something is wrong!

I’m convinced that the only reason why myself and many of the people I work with have done so well with Wholesaling is because we were able to identify and push through these moments.

I’m not going to lie to you, it won’t be easy. I remember times when I was practically in tears because things weren’t going my way.

Sometimes it hurts...REALLY bad!

But know this: What you seek is “directly” on the other side of that pain.

These “gut check” moments will come to you in various forms. In this post, I want to share with you what I believe to be the three most significant gut check moments you can expect.

I like to refer to them as the "Three D’s" and man o man they can be dangerous!

If you allow it, the three D’s will stop you from having success in Wholesaling and rob you of your dreams. Just like with everything else in life, awareness is key. If you know what to expect going in, you are already ahead of like 98% of the population.

Imho, the three D’s is the universe's/God’s way of saying, “Hey, is this guy/gal really worth it? Are they really “ready” to have all of the success that Wholesaling can bring?”

So what ARE the three D’s? I’ll break them down for you here.

1. Doubt: What is doubt? What does it look like? Doubt in yourself, doubt in wholesaling – is this really real? Can you really make money wholesaling? Why would a homeowner ever sell their home at such a huge discount?

In order to get past this you must remember why you got into Wholesaling in the first place.

There are thousands of people out there making tens of thousands (and even hundreds of thousands) of dollars every month from Wholesaling houses and that's a fact!

Keep that in mind and remember that you are no different than anyone else.

2. Disappointment: What is disappointment? You’re working hard, you’re getting out there, but you’re starting to get disappointed because people are telling you: “I don’t wanna sell you my home at that discounted price.”

Or worse yet you’ve busted your butt to put a deal together and all of a sudden at the last minute, the seller and the buyer decide not to either sell or buy and the whole deal falls apart.

Disappointment just means that you’re getting closer so you gotta stick with it. You MUST stick with it! Don’t let failure be one of YOUR options.

3. Distraction: This is the last gut check moment and potentially the worst one of the three. This is the one that’s gonna come out from under your bed and grab you. Some people call it “shiny object syndrome”.

All of a sudden, right at the moment that you’re about to have success, one of your old high school buddies comes along, and says, “Hey, I have a way for you to make more money in a shorter amount of time.”

If you haven't read Gary Keller's, The One Thing, I HIGHLY recommend you read that book a.s.a.p. If you've decided to build a business through Wholesaling houses, make THAT your "one thing" and focus only on that.

Otherwise you'll just keep jumping from one thing to the next, having NO success, wondering why nothing ever works.

So regardless of where you are on your Wholesaling journey, understand that these things are coming for you. They are waiting for you and have your name written all over them. When they happen, you just gotta laugh it off.

You have to laugh to yourself and hopefully...remember this post :)

Set an egg timer and have yourself a three-minute pity party! You can blame me, blame yourself, blame your parents, blame your kids, blame whomever you want, you have my permission.

But then after those three minutes are up, get right back to work!

That’s when you are closer than you think you are. It's not anytime to be pumping the break. Actually, it's the exact time you want to punch the gas pedal and not look back!

So remember the three D’s: Doubt, Disappointment and Distraction, and never let them get the best of you. Happy Wholesaling!!

you know what, i'm going to print this and read it every time. this is exactly what i needed to read, thanks for sharing this!

I have a house in chicago that I want to sell but it has tenants inside and a lease that ends in October. can i sell the house before lease ends or can i give my tenant a 30 day notice so she can leave and ill sell the house. Does anyone here have experience with that or been through something similar, if so can you please tell me what to do in this case. I appreciate your comments

Post: real estate attorney of chicago il

Christina VenegasPosted
  • Posts 29
  • Votes 8

can anyone here recommend a real estate attorney in chicago. i appreciated

Quote from @Bryant Brislin:

That's hard to answer the way you wrote it. Not every cash buyer is a flipper; some will do long term holds as landlords or STR/Airbnb. For the flippers, I think the very minimum they want to make is a 25k profit, if not closer to 50k per house. Remember that once they buy the house, they have carry costs while they own it (prop taxes, insurance, utilities, etc) and then they have to pay 4-to-6% approx commission and closing costs again for the flip. Where you are at, in the Inland Empire (i.e. Fontana, Moreno Valley, et al), a very bascic metric that I've heard flippers use, is 100k margin/delta, meaning if the ARV is 400k, then they want to buy it for the max at 300k, if not less. That would be for a light-to-medium th

thanks! I thought all cashbuyers we’re flippers

i was wondering as a new wholesaler, how much does a cashbuyer want to make on a deal. How much do they earn in a good deal and how much do they earn in a deal that is not so good. i appreciate your responses

Post: a really good wholesale book

Christina VenegasPosted
  • Posts 29
  • Votes 8
Quote from @Katie Miller:
Quote from @Christina Venegas:

Are there any good wholesale books that you guys can recommend readin?


 Stay tuned this summer for a BP book on wholesaling! :) 

got it thanks!

Post: a really good wholesale book

Christina VenegasPosted
  • Posts 29
  • Votes 8
Quote from @Eliott Elias:

Put a property under contract and try to wholesale it, nothing will teach you more. 


 great advice! i’m working on it