All Forum Posts by: Khaleel Jenkins

Hey Joe, this is exactly what I was looking at. I suppose you're right, in terms of making the decision to either flip or BRRRR when that time comes, but in the meantime just get in the deal and run the numbers for both scenarios, to make sure we're covered in any market. That said, any spreadsheets or tools you could share that could help me run the numbers for a BRRRR or a flip?

Thanks for the response!

 Hey Renee, thanks a lot! Yes I was thinking the same way in terms of not having time constraints. I'm hesitant towards flipping, just because that's more of a hands on day to day job that I'm not sure I quite have the time for just yet. Also, not too big a fan of the tax implications that come along with short term flipping, especially when I have a relatively high income from my primary job. Ultimately, would love to do my own new construction and flips down the road, when I've built more experience with my company. 

Nonetheless, thanks very much, I appreciate you!  

 Hey Wilson, this is great insight! I appreciate it!

Hey Everyone - My girlfriend and I live in Orange County, CA and are 25 and 24, respectively. For work she does tech recruiting and works remotely, while I work as a project manager for a custom home, design-build company, based in Los Angeles. Though I love what I do for work and see myself remaining in the industry long term, we are passionate about achieving financial freedom and understand the opportunity available through real estate, to accomplish this. That being said, with our lack of experience and the state of the current market, both nationally, and especially here in California, we are suffering from analysis paralysis and instead doing nothing. 

We're familiar with various strategies available: BRRRR, House Hacking, Live-In Flip, etc. However, we aren't quite sure which direction to head down. Due to my familiarity with construction, we are leaning towards BRRRR or a Live-In Flip, but based on our financing scenario, we are seeking advice from the BP community.
 
On one hand, though we make decent income combined, we are not in a place where we are able to invest our own capital in such an expensive market here in California. On the other hand, we feel uncomfortable trying to manage the tasks necessary in long-distance investing, in our first deal. Our ace in the hole, however, is that we have parents that are capable and willing to serve as a hard-money lender of sorts and give us extremely favorable rates. Though this is obviously an enormous benefit to us, we want to ensure we are maximizing the opportunity for both parties involved and is where we are stuck on which strategy to employ. 

To the seasoned investors out there: with our experience and familiarity in the construction industry and the opportunity to receive financial backing from a parent, what are strategies we should be looking at? How should I be running these numbers to present to said investor? If going the BRRRR route, what are things to beware of? Are there other strategies I am not looking at?

Ultimately,  our goal is to maximize the capital for both parties involved and hopefully use this initial investment to accomplish 2 things: 

1. Get in the game and create some equity or immediate capital (hopefully both) 

2. Prove to our investor (parent) that we have identified a strategy or set of different strategies that we know how to execute on to make ourselves money as well as them. 

Any guidance, tips, suggestions, potential mentorships, etc. would be greatly appreciated and I look forward to hearing from this amazing community!

Hello, 

Our company Red Door Homes has a reputation for building beautiful custom homes throughout the Los Angeles area, specifically in the Pacific Palisades, Encino, Sherman Oaks, and Studio City areas. In the near future, we are looking to increase our volume per year, and are looking to expand our relationships with various high-quality subcontractors amongst many different trades, throughout LA county. Currently, however, we are specifically in search of a Foundation Contractor, as well as, a Demolition Contractor (if can do both, would be great). If anyone has any referrals please contact me and I would love to network and get an intro! Thanks in advance I look forward to hearing from you all!