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All Forum Posts by: Ivan Guillen

Ivan Guillen has started 7 posts and replied 51 times.

Post: replace our realtor or are we at fault (1st time buyers)?

Ivan GuillenPosted
  • Investor
  • Indianapolis, IN
  • Posts 53
  • Votes 62
Quote from @Sam Shueh:

The real estate market is going to cool off with the bad news. Layoffs etc are in the works.  Wait til this winter sellers will be more flexible.  In Silicon Valley home prices are eroding since mid 2018. 

Outside Amazon, Google headquarters, Facebook etc rather get 20 offers first weekend, people viewed the empty homes and walked away. Lost about 8-10% value since. Average days on the market is 45 days not 4 days as before. Buyers refuse to bump up offering price but will pay full price. Depending on Wall Street, Trade War outcomes high tech companies will need to reduce headcount. Expect a slower 2020 and on. 


 lol

Post: Need contractor-Indianapolis Indiana

Ivan GuillenPosted
  • Investor
  • Indianapolis, IN
  • Posts 53
  • Votes 62
Originally posted by @Nick Giulioni:

@David Moudy has managed all my rehabs with his crews. Highly recommend.

Didn't David Moudy gamble away a quarter million dollars of tenant's security deposits?
 

Post: New Indianapolis Investor

Ivan GuillenPosted
  • Investor
  • Indianapolis, IN
  • Posts 53
  • Votes 62

Hey Christy,

Welcome to the community! I would recommend you network with as many people as possible to start building your team in Indy. Finding deals via the MLS is possible, but can become difficult when inventory is low as it has been for a while. Connecting with individuals in the area can lead you to finding more deals. This will also streamline your investing since deals will be presented to you instead of you searching for them.

My team in Indy has great relationships with PMs and other professionals in the area and we often receive off-market deals that we can present to our clients. If you need help getting started feel free to reach out! I would be happy to connect you with PMs, contractors and other professionals that can help you get started.

All the best,

Ivan Guillen

Make your business as lean as possible in order to set cash aside, and focus on acquisitions. Secondly, make money on the front end by acquiring at the right price.

Post: Buy Primary Residence Then Eventually Rent

Ivan GuillenPosted
  • Investor
  • Indianapolis, IN
  • Posts 53
  • Votes 62

I agree with @Taylor Hudgins, do what is best for you. I have a family member who bought a small home thinking they would live in it long term, but later transitioned into a travelling nurse role. She ended up renting her house beating the 1% rule and continues to rent it as she travels across the country. This makes sense in her situation, because she is not worried about cashflow. While the property does cashflow well, she is satisfied with monthly rents servicing her debt and maintenance items around the home. This allows her to build equity in an appreciating home, while not having to pay monthly out of her own pocket.

Her situation might differ from yours, so ultimately your decision should depend on your goals. 

Post: License for starting out

Ivan GuillenPosted
  • Investor
  • Indianapolis, IN
  • Posts 53
  • Votes 62

I agree with @Michael J Scanlon, getting your license is not necessary but can definitely help your learning experience. I got my license because I wanted to be able to help investors set up their team (broker, PM, and contractors) here in Indianapolis, and learn from the transactions. My license has given me the ability to network with various investors who are like-minded and have similar goals to mine. Overall, it has provided me with great learning experiences, and the ability to chat with great people in the real estate space. 

Hope this helps!

Post: Storing documents..leases, etc.

Ivan GuillenPosted
  • Investor
  • Indianapolis, IN
  • Posts 53
  • Votes 62

Hey @Patty Capson, we use "Box" as our way to store important document. My team uses this platform to store documents pertaining to brokerage transactions, rental documents, and property analyzers. 

If you are looking for something that will just track expenses and leases I would recommend quickbooks or Stessa.

These are some of the platforms that we have had success with, so I hope these are beneficial to you as well!

Post: Client Wants Off Market Property - Advice?

Ivan GuillenPosted
  • Investor
  • Indianapolis, IN
  • Posts 53
  • Votes 62

I agree with @Nathan Gesner it does not make sense to go out of your way and chase a seller, when you can likely make the same commission off of the MLS. It is simply not worth your time. As an agent, you have to make certain your time is protected. There are a lot of tire kickers, and they can waste tons of if their making you chase property owners that likely have no interest in selling.

Here is my tip, and this comes from the book The 4- hour work week. Focus on the 80/20 rule, meaning focus on whatever is producing the most results, and leave the rest alone. For me, I realized most of my business comes from listings, so now I focus on procuring more listings. This does not mean I do not work with buyers though. I have created systems that still allow me to work with a high volume of buyers, but it does not take from my time dedicated to procuring more listings. Ever since I have stepped back and focused on this I have been able to close more deals and also have more free time.

Here is a link explaining the 80/20 rule.

Hope this helps!

Post: I'm just starting out. Is it worth it to get my RE license?

Ivan GuillenPosted
  • Investor
  • Indianapolis, IN
  • Posts 53
  • Votes 62

Ultimately it depends on the goals you have, and if getting your license aligns with them. I wanted to be fully immersed in the real estate space, so for me it made perfect sense. Here are the pros and cons imo

Pros: Access to the mls, networking, income, helping other investors, learning from the transactions, seeing other's strategies, getting to know areas better

Cons: Course to get licensed, passing exam, paying annual fees

For me, it was definitely worth it, but everyone is different. The biggest factor for me was that I was able to learn and get more insight on REI with my license. Hope this helps!

Post: Looking for a Real Estate agent in Indianapolis Indiana!

Ivan GuillenPosted
  • Investor
  • Indianapolis, IN
  • Posts 53
  • Votes 62

Hey Matthew, 

One tip I have for you is to not go with the first broker/agent that is presented to you. I strongly encourage you to vet them to ensure they will be able to provide the most value to you. There are a few simple questions that can help you qualify an "investor friendly agent"

How many investment properties have you sold in the past year? (not cookie cutter homes in the suburbs)

How many investment properties to you personally own?

How do you source deals?

These questions will allow you to check their track record and ensure they will be bringing value to the table. All realtors have the same base value (access to the MLS, access to show properties, etc). Ensure your realtor brings more value than just that. Making sure they have experience in investing and a strong track record will set you up for success in the future. Hope this helps!