All Forum Posts by: Kris Villasenor

As part of my investing journey, I'm now on quite a few wholesaler lists and receive off-market deals almost daily.

On properties I'm interested in, I'll get into the research on the property and then run numbers (working hard to develop these skills), and then I'll notice that some of these deals aren't deals.

For example a property is being wholesaled for 120k, but was last bought in 2022 for 60k, it needs a ton of work (30k est), it's vacant, and they say'll it'll ARV at 180k and the neighborhood comps (both nearby sold properties and even rents actually) do not support that ARV. It won't cash flow, and it's like the wholesaler wants the appreciation before it, you know, appreciates.

It feels like some wholesalers are hyping up properties to out of state investors (of which I am one) and they are banking on us not doing even the basic amount of calculations.

I wouldn't touch quite a few of these wholesale "deals", and am wondering what the purpose of wholesaling is actually. Is there something I'm missing?

I tried to use it multiple times and it just clocked, which is weird because it was working fine yesterday. I'll try again.

Hi all,

I'm looking for a RE agent in St. Paul, MN for Brrrr and fix and flips. Message me!

Kris

Hi all,

I need an LLC for an out of state RE project. Is this something I need to hire an attorney for? Where do I incorporate it? Is there a way to do it myself?

It's for me alone and there are no other partners/investors.

Thanks so much!

Kris

Hi everyone,

Long time lurker here. I'm interested in getting started with turnkey and/or brrrr for long term hold. I have 125k cash and own some land outright worth ~100k. However, my challenge is a lot of student loans of ~100k (bachelors and masters degrees), which consequently affects my credit. Of course, I don't think putting all my capital towards my student loans is appropriate, and I don't regret them either and I received an excellent business education from great schools. I also have experience managing remodels, contractors, subs etc and have even taken some community college trades courses (framing etc) so I have some basic trades knowledge. I don't own my own home and am blessed with cheap rent right now. Would prefer to invest instead of own the home I live in.

I've have had it suggested that to get started, I should buy a property that is under 100k in cash. I've also had it suggested that I should use my land to secure a loan under 100k, given my debt. My land is also buildable and I have plans from an architect for a 3 bd/2 ba home which would cost 300k to build (it's in CA) and is in an excellent STR location...but I'd need a construction loan to build it. AirDNA says a new build on my land would bring in 50k yr in revenue on the lower end. (edit: the property can have up to 3 units built on it...house with attached separate apartment + unattached ADU)

Of course, other people are telling me to park my cash in a high yield savings account and just chill LOL, but I'm not really comfortable with that either as an investment strategy. I've thought about my goals, and they're pretty conservative. Basically I'd like to make 8% or more on my capital, which would outpace my student loan interest and be worth it.

So, where do I start? There's potential here, but also drawbacks. Would love to hear your suggestions.

Kris