All Forum Posts by: Vladimir K.

I'm an agent and investor in Sacramento. Every flip that I've ever done has been unique in some way, with unexpected happenings. If there's one thing to be aware of, expect the unexpected. Be conservative on your rehab budget, rehab timeline, holding costs, etc. And always have reserves to handle any unexpected issues. Understand the local permitting requirements, keep eyes on your property to avoid squatters, and make sure you have a great vacant insurance policy while you're renovating. If anyone's interested in getting more into depth on flips in Sacramento, I'm a DM away:-)

Hi Scott, 'm in Chicagoland area, and also an agent. Albeit a part time one. I have heard that CA is very competitive and very difficult to find deals in. So, I'm curious how you are managing to find your deals, whether you are buying at auctions or via marketing direct to sellers. I see that in my area, many agents buy homes either from wholesalers or at auctions. The homes don't have MLS sale history until they are listed after the rehab has been completed.
If you don’t mind shaing, how are you financing your deals and do you do the work yourself?
Thanks.

0 Votes

Quote from @Becca F.:

What would be the price ranges of Class A, B and C properties in your markets ….

If you don’t mind sharing, what are the definitions of Class A, B, etc? And how many classes are there?

1 Vote

San Francisco, California

Originally posted by @Michael Ealy:

Originally posted by @Shardae Robinson:

Thanks for offering to share your wisdom @Michael Ealy. My question is more about neighborhoods. The deals that I can realistically pursue today are mostly in C to D neighborhoods. What is your position on areas/quality of neighborhoods to invest in? Thanks in advance!

Shardae,

Good question as well. I started with F (war zones) and actually made a lot of money with it (although I don't recommend it). And C & D are good but you need several things to increase the chances of succeeding in those areas.

This one is interesting. If you don't mind my asking, what kind of a turnover do you have in a F zone multi unit and what is the management like? How much would a property manager charge for managing a property in that location?

Thanks.

0 Votes

Originally posted by @Joel Owens:

<snip>

Money isn't this magical thing that is going to solve all of life's problems. With having more money becomes more responsibility. Stress does not go away when you have money it's form just changes to something else.

I agree with you. I know of one millionaire who says that when he was poor, he worried about making money, now that he's wealthy, he is worrying about keepit it.

0 Votes

Originally posted by @George Skidis:

Chicago's threats are the City government and their influence on the state government. Senators and Representatives from Chicago are pushing to remove the state ban on rent control. If this passes, Chicago will not be as attractive. Time for a grass roots effort.

IF the ban on rent control is lifted, what do you think will happen to the rent prices? As it stands, a lot of Chicago investment properties are rented at the prices agreed upon by the Section 8.

I'm not arguing with you, just trying to understand your perspective as to what can happen. If the Chicago prices drop in 2019, that could bring more investment opportunities provided one plans for the anticipated controlled rent price.

Thanks.

0 Votes

Originally posted by @Amber K.:

.....

So what now? How can I put homes under contract knowing I can’t afford to close on the properties? How do I make money to fund the renovations and still hold myself to my own personal ethics? I can't bear disappointing a seller who is relying on me to help them.

I recommend getting a Real Estate License and then you can list people's homes and make money without needing to be dishonest.

Another option is to stick to homes and areas where you can afford to close and make renovations.

0 Votes

Originally posted by @Alexander Flores:

I agree with @J Scott 100%. I spent a good 6 months looking on the BP forums and other internet sites on the process of RE before looking for potential rental properties.

Even then I knew nothing, three years later and I still know nothing ha

You make a good point. There is a need for study, but ultimately there is always risk. If the OP found a thread on a 'tenant from hell' or a 'rehab from hell', they'd probably never want to get involved in investing as some deals have unforeseen risks that can bite no matter how much one knows.

1 Vote

I think every state has their own issues. There were investors making money in Detroit, MI when the prices were going down every year. Are Chicago/Illinois Real Estate deals as bad as Detroit, MI in 2010-2012?

1 Vote

If you are looking to become a Real Estate Agent making serious money, I would recommend going to agentsonline.net and looking up a thread about 100contacts per day

http://www.agentsonline.net/forums/ubbthreads.php/...

It's not going to be easy, but it can be done.

In a nutshell, top agents have prospecting systems and spend close to 6+ hours per day prospecting for new clients. Towards the end of the thread, one Canadian (Lucky) and one East Coast US Agent (Ronnie) shared their incomes for this year being CAD 600K and USD 430K, respectively. Most of it from cold calling.

2 Votes

Greetings all, what are some of the tricks to find best rehabbing markets on the MLS, that may not be obvious?

Do you have a quick go to method to identify best rehab and other investment opportunity when searching the MLS?

0 Votes

All Forum Posts by: Vladimir K.

Vladimir K. has started 7 posts and replied 65 times.

Post: Confessions of a First-Time Flipper: What I Wish I Knew Before I Started!

Post: Questions for Ohio agents/investors and Class A, B, C in your markets

Post: What Is Your ONE Question About Apartment Investing?

Post: Millionaire - RICH or Middle Class?

Post: Any predictions on the Chicago Market in the upcoming 2019?

Post: Do I have to let go of my integrity to be successful?

Post: Learning how to fix and flip

Post: Is investing in Chicago brilliant or ridiculous...go!

Post: Six-Figure career switch to Real Estate Agent?

Post: MLS Search Tricks to identify best investing areas