All Forum Posts by: Kristopher Blais

Hey Ami - it's going very well. Two closed so far, a third tomorrow! My first fix/flip is just getting buttoned up and will be hitting the market week after next. 

Where are you located? Where are you in the process?

Hey Christian - thanks for your service and congrats on your progress! It may be tough to see from your position, but you are in the catbird seat - so many options available to you! 

I love (and wish I had) the VA loan option. Are you working with a lender on that? They should be able to tell you what your options are for the 1-4 unit properties. If you can use that to buy a multi unit, or something you can house hack, I'd start there. Aside from that, there are DSCR lenders, a HELOC would be great just to have available for when you find that perfect deal.

The question I have for you is - what are your long term goals with Real Estate? Do you want to replace your day job with it? Is it just a hobby? What's the big vision? Working backwards from that will help identify your next best step with REI.

I'd be happy to connect and talk through things with you if you want - reach out anytime!

Best of luck on this adventure! 

Kris

Hey all - 

I'm new to the KC market (long distance) but excited to have a few active deals in the area (Prairie Village, Westport and Independence). Are there any other KC investors that would like to network, trade war stories, vendor referrals, etc?

Looking forward to connecting!

What is the timing and rent for both options? 

That differential in time spent prepping to rent, multiplied by daily rate achievable is another factor to consider. E.g. - if the premade one is up and running a month faster, that's how much more in revenue? That additional revenue "reduces" initial expense.

Apples to Apples, I'd go option 1 any day. But there can be value in going the more direct route. 

Please let us know what you end up doing!
 

Look at what you want your (family) lifestyle to look like. If you sell the primary, where will you live? How will that change/improve/impact your family life? 

You obviously know and have the juice to get deals done - what do you want day-to-day?  

That's the dream. Can't wait to see it happen! Good luck - 

Hey Ethan - I echo what Jonathan said above. It sounds like the driver for this is emotional (something to enjoy with your family) and the justification is that it's an investment with what sounds like a lot of value add options (great!). 

To approach this from an objective position, look at it as a second home. If it makes ZERO, are you comfortable holding it? That should mitigate the stress of the negative cash flow component because you've shifted your focus from making money to adding value to your life and family's lives. 

If you answer "yes, it's worth it even if it doesn't make a dime," then you know what to do. Anything you can do to add value and off-set that negative cash flow (STR/MTR/LTR if the market bottoms out, improve the home) is a bonus!

I had a similar situation with a second home in my original hometown. I bought my dream house as a vacation home with the intent of AirBnB-ing it. Municipal code changes as often as some politicians change their underwear and that created a deviation from my original plan. But I LOVE the house (I know a lot of people say don't fall in love with RE) and I went into it knowing that I could afford it and WOULD afford it even if my investment plans didn't work out. Fortunately, the property has cash flowed well since day one - but when the day comes it doesn't, I know I'll be ok. 

Hope this helps - happy to discuss further if you like. Best wishes on the new venture!
 

Congrats, Nick! If I could go back 15 years, I'd do the exact same thing and would be in a much different place now. What's your plan for it?

Admin - please delete if this is not appropriate.

Hey All! I'm excited to be attending the Rookie Bootcamp in Denver at the end of the month. I have a few deals under my belt (resi/commercial/short term rental) and have been a Commercial Real Estate agent since 2011, but still consider myself a rookie. I am really looking forward to meeting with and learning from fellow attendees. 

To make the most of the weekend, I thought I'd start a thread to start the conversation early and set up some during conference weekend meet and greets. 

A little about me - I'm 37, a Dad, and in love with real estate. I worked for a commercial brokerage for 11 years, then after COVID gave me space to really look at what I want in life, left that brokerage and decided to focus on the principal side. Since, I bought my first commercial building, am making an offer on another this week and looking to buy a 4-plex to open up multi-family in my portfolio. 

On the day to day income side, I recently joined my local Keller Williams and am focused on building a full service, multi-faceted team with experts in each area (commercial, investment, owner occupied, leasing, creative financing, etc.). 

Markets I am active in are Portland metro, Greater SF Bay Area and Denver - but I'm really hoping to get into other markets in the midwest and south. 

Even if we don't meet, I hope this post serves you all and leads to some great relationships that result in deals. I am excited to hear what you all are up to!

Cheers,

Kris

Hi all - 

I am purchasing the long-term (86 year) Leasehold Interest of a multi-tenant NNN property in California. With COVID, financing less than conventional deals is proving to be difficult. Does anyone have any recommendations for lenders to reach out to?

Price point - +/-$1m

Cap rate - 8%+ (depending on LTV)

Timing- need to close by end of year

Occupancy - 100%

Thank you in advance for your recommendations!