All Forum Posts by: Chris Vargas

Why don’t you just become a hard money lender and earn in the interest you will charge for it. Let someone else take the risk and wait your time or look for a deal that at least breaks even, if looking for the appreciation game. 

Hi BP community, 

So my family and I have our home paid off and looking for a credit union in Las Vegas to take out a Heloc to leverage that equity into buying a rental. We are looking to BRRR even if we leave money on the new deal. We have enough for reserves for the rehab we are just looking to get enough to put as a down payment. We do plan on living in the new home while we rehab ourselves and leave our current home rented. Any suggestions more than welcome to hear your guys opinions! Thanks and let's keep each other motivated!

In this market wi will be harder to do fix and flips since not many people are buying  with interest rates so high. I think if you can cash flow a little bit and keep it during this market would be the best option in my opinion. Good luck!

Just make sure you do the proper screening. References, background, talk to their previous landlords, ect. Good luck!

Are your typical tenants travel nurses or students? You may have to use a little creativity and research your competitors and offer different amenities that they do not offer. 

Perhaps should pívot into looking for an off market deal. Yes, it's more work but it will definitely be worth it. I would also suggest to find a good legit wholesaler that can find the deal and you just pay the assignment fee. You can also look for value adds! Properties that the numbers may not make sense as they are now but if you added sq ft, ADU, bathroom, etc can make the numbers better. Good luck

The best market to invest will always be in your backyard! Why? Because do you know your neighbors backyard better than your own? Every market works to invest, you may just have to pívot into different strategy. 

When considering retirement always consider the type of lifestyle you will live in retirement with all that free time will probably mean much more spending. When you retired you want to enjoy it so probably means spending on entertainment, travel, and with age health related finances. Also, think about the value of your cash flow now will not be equivalent with the same value in 5,10 years etc. due to inflation. Maybe your cash flow can sustain your lifestyle right now but not the same during retirement. But at the end retirement is just a mindset because we never fully retire from real estate, why would you! 

Welcome back to beautiful SD! Just like you I been learning as much as I can about real estate. As long as we stay focus and consistent we will grow. Any meetups in San Diego area that you recommend would be appreciated! Cheers 

Wow $300 of rent! I would stay put and and save as much money as you can to put it down as a bigger down payment once we see the market drop some more with these high interest rates.