All Forum Posts by: Kristen Reyes

@Craig Sloan

Thanks Craig. I am actually currently reading Cash Flow Quadrant! In his book he suggests Millionaire next store as well so that's on my list as well.

Thanks for all the suggestions!

@Alex Olson

Sure thanks for the recommendation. There are so many good books to read I am having trouble picking one lol.

I guess I am just looking towards the future in regards to system. If I self manage I want to have an idea of how to leverage systems to help with that.

Hey BP! I am just getting started on my real estate journey and thought id get some reading done during my quarantine time.

What books do you recommend about creating systems and processes?

What tools or apps do you use to help with your systems?

Thanks!

Just getting started on my real estate journey and want to get some reading done while stuck in quarantine.

What is your favorite book that talks about creating business systems?

What tools or apps do you use to help systematize your processes?

Thanks!

@David Hulit

Hi David,

Thanks for answering everyone's questions.

I have 2 questions:

1. Can you apply only for the forgivable grant, OR do you need to apply for the EIDL to qualify for the grant?

2. If my husband and I both have stake in our LLC can we both apply, or is it one per LLC?

Thanks!

@Kyle Smith can you explain more about not having equity built up being a bad thing? My thought was even if we had 7 properties free and clear we would be fine and less complicated? What exposure am I putting on my business if we have more equity in a property?

@Alex Nickla yes I would love to connect! Are you renovating the old movie theater? I really need an investor friendly agent that is willing to work with me and submit a lot of offers! We are motivated to succeed and will submit a lot of offers, but I hope to buy a lot of houses too! 

Hey All!

My name is Kristen Reyes, and I am from Crown Point, Indiana. I am excited to get into real estate and looking to invest in various areas of NWI. The towns I am looking in are: Merillville, Crown Point, Cedar Lake, and Lowell Indiana. 

I currently am an eCommerce business owner, which works great which allows me to be a work at home mom, but I want to diversify and add additional streams of income. My first major milestone is to generate 4,000 in passive income using long term holds so my husband can quit his W2 job. At this point he can quit and we can feel safe to keep reinvesting.

We are looking to BRRRR our properties. We would love to connect with real estate agents/contractors from the area. It would be great to build a team and hit the ground running . Our goal is to buy our first property in 2 moths!

A question for all the experts: 

Since our goal is to have the most passive income- regardless of the amount of doors- I was thinking that having more equity in each property would mean a lot to us. Any opinions and advice on the following plans would be appreciated.  

1. Start with a flip. Use the profits to pay off our HELOC and with the rest of the profit using a 1031 exchange to invest in our first buy and hold. I was thinking that would be a great way to get more equity in the property because wouldn't have to pull it all out to pay off the HELOC.

2. ORRRR should I go straight into doing a BRRRR?

Thanks for reading and super excited to be part of this community.

Kristen 

@Jerryll Noorden

And then with your website are you paying for marketing?

I am brand new so any information would be helpful.

@Sterling Chapman no rehab costs on these homes?

@Frank Patalano 

Thanks for the advice. My plan is to try to find some local meetups. I already found one in the area. The more knowledge I can get the less fear I will have to take the plunge!

NWI- Northwest Indiana. All the cities I would look in would be 35 minutes- 1 hour from Chicago. This is a diverse area. You can go from an impoverished Gary to a very well off St. John- So I want to select my market carefully. 

Because I already run an online Ecommerce business and am a work-at-home mom with 2 little ones, I feel like I will do my first property within 20 minutes drive. That narrows it down a bit for me. 

If you don't mind asking- what are your criteria for selecting your market? What stats are you looking for an in an area?