As a contractor, it was so AWESOME to hear you say "hire a contractor to walk through with you to build a budget." I really hope people take this advice from you. It's so painful to come in to a job and tell them there is no room in the numbers for the reno they're thinking of.
@@sunset3458 there was a previous video, from early on in the channel, where she covered that. Since contractors will typically do free estimates in the hope that you'll hire them to do the job, she recommended offering to pay them like $50 for their time, especially if you want a line-by-line estimate.
Love the vid! Thank you 🙏 Could you talk about the processes after the rehab. How do you find renters? What background checks do you do? Do you have a template for leases? Or do you use a property manager for all rentals?
Best detailed video I’ve seen on not only how to run comps, but on how to use them to plan your renovation and what to expect for the ARV. Simply outstanding. Thank you!
Thank you SO MUCH for making such depth and detailed content. Truly is one of the best real estate channels out there! I hope you continue to grow and can’t wait what awaits for you!
Thank you for your videos! I've been on a life changing quest and you are on the top five of my inspirations! Learning so much and thank you for the time and effort you put into all of this! Will continue to follow! Much blessings to you!
I appreciate you walking through all of this Lili! You mentioned you got an alert when the second property went back on the market. Did you get specifically get a ‘re-listed’ alert or were you just tracking status changes? If the first, where can I find?
I found your channel last night when I was researching rehabbing fire damaged homes. There is a duplex on the next block that’s been foreclosed because of a fire, I’m very interested in house hacking it. Love your content I’ve been binging your videos since 🔥💯💪🏾.
Sis you add so much value to the REI industry. The numbers are what is most intimidating, I’m curious how do you navigate around realtors asking for roof of funds?
Good stuff Lili. Looking forward to seeing the finished project. I’m in the process of renovating my duplex I just closed on as well, this video was right on time.
use ozone machine for odor elimination , you leave it inside 24-48 hours and also will kill any animal inside , dont leave plants or anyone there since is very toxic , however you can be there with just air ventilation , thats the best way to eliminate odors in homes specially if there was smokers in it
Hi Lili, awesome video, I have one question: When you convert the additional tiny extra house , how you separate the water and electricity from the main house? , Keep your awesome videos I learn a lot.
This was so great! I’m looking at a duplex right now that needs a lot of renovations which the current owner has agreed to do but may take her 4-5 months realistically to complete. Just to clarify, you put 20% down for your hard money loan? How were you able to ask the lender to take a tour of the rental with you? How long does it normally take you to complete the renovations? Do you pay the increased interest and payments on the hard money loan during that time?
Hi Lili! Your videos are so detailed and helpful. They have been super instrumental in helping me learn about this business. I wanted to ask about contracts. Do you get them drawn up for you? Both Wholesaling and flipping contracts. I want to start wholesaling and flipping but I’m stalled on the legal process and where to find contracts/contract information. Thank you!
love this channel! can you do before and after videos on your next reno please? I think it'll be better for us viewers and will elevate your production a lot more as well. Can't wait for the interview with the loaner
Love your content! Question, since you're converting the extra space into a second unit, will that add more time to the rehab due to the city's approval and getting the permits? In New Jersey it literally can take 2 or more months to approve plans and pull permits. So frustrating 🙄
@lilithompson Why not base the ARV off of the lowest comp that way you know at a minimum the house would be worth x amount of dollars after it's rehabbed?
Because the ARV is the starting point that eventually determines your max allowable offer, and if that's too low, then you jeopardize not getting the deal, because you lowballed the offer. Plus, the lowest comp was for a much smaller home. It's best to be somewhere towards the middle, to keep from offering too much OR too little.
Would you evaluate things differently or change your strategy if you were going to house hack? I’m thinking of buying a duplex and living on one side and renting the other. But I still want to find a slight fixer, add value, and get some instant equity to do a cash out refi.
@aneshawright Good question. I also wondered if the house is right by a main road wouldn't that mean that it probably won't fetch top dollar so it won't go for 255? Not trying to rain on her parade just curious as someone who is getting into real estate investing.
Mom, leave the door open! Crack the window. Once you are done, close it. This way, you get a better understanding of what needs to be fixed or removed!
@@Liliinvests lili to gain knowledge in acquiring apts & self storage please see Peter Harris's YT videos and then contact him for more info. I highly recommend him.
I don't know where you are from. I see your doing thing's to better your life. I know how to fix almost anything. If you would like to have me do some work for a better price and better quality I would love to work with you. In oder to flip a house you need good bug price and great work at a affordable price witch I could provide. I can do landscaping and as well all home improvements. Stay blessed
![No More Driving For Dollars! How to get your first wholesale deal [Episode 3]](/img/n.gif)
As a contractor, it was so AWESOME to hear you say "hire a contractor to walk through with you to build a budget." I really hope people take this advice from you. It's so painful to come in to a job and tell them there is no room in the numbers for the reno they're thinking of.
Listen. Where do I find one to do this? What’s a reasonable hourly rate to do this sort of thing?
@@sunset3458 there was a previous video, from early on in the channel, where she covered that. Since contractors will typically do free estimates in the hope that you'll hire them to do the job, she recommended offering to pay them like $50 for their time, especially if you want a line-by-line estimate.
😊ouI🎉🎉O
😮😮0😮😅😮0😮
😮 1:57 9😮I
I have an alarm set. Tomorrow begins my driving for dollars after a month of research. 🤩 thanks for sharing your knowledge girl, you Rock!
Good luck, you got this!!
Congratulations on beginning your journey
I've been doing that too in Phoenix. There's a d4d challenge in the fb group I'm in
@@dezm1844 thank you!!
@@eddiewright2048 thank you!!
I love seeing your projects come to life! Good luck and I can’t wait to see the finished property!
Love the vid! Thank you 🙏
Could you talk about the processes after the rehab. How do you find renters? What background checks do you do? Do you have a template for leases? Or do you use a property manager for all rentals?
Best detailed video I’ve seen on not only how to run comps, but on how to use them to plan your renovation and what to expect for the ARV. Simply outstanding. Thank you!
Thanks for sharing Lili. I can't wait to see this property finished.
Thank you SO MUCH for making such depth and detailed content. Truly is one of the best real estate channels out there! I hope you continue to grow and can’t wait what awaits for you!
Seeing the value can really be rewarding. Go Queen 👑 I enjoyed this video. Data is everything!
Thank you for your videos! I've been on a life changing quest and you are on the top five of my inspirations! Learning so much and thank you for the time and effort you put into all of this! Will continue to follow! Much blessings to you!
Fantastic! Thank you for actually going into the numbers and teaching us how to evaluate potential deals. Looking forward to more of your vids. Cheers
I appreciate you walking through all of this Lili! You mentioned you got an alert when the second property went back on the market. Did you get specifically get a ‘re-listed’ alert or were you just tracking status changes? If the first, where can I find?
You content and how much value you give is gold! I’m a new investor and your videos help a lot!
I found your channel last night when I was researching rehabbing fire damaged homes. There is a duplex on the next block that’s been foreclosed because of a fire, I’m very interested in house hacking it. Love your content I’ve been binging your videos since 🔥💯💪🏾.
Very nice reno.
Glad I found this channel. Amazing quality and very helpful real-world explanations
Sis you add so much value to the REI industry. The numbers are what is most intimidating, I’m curious how do you navigate around realtors asking for roof of funds?
Good stuff Lili. Looking forward to seeing the finished project. I’m in the process of renovating my duplex I just closed on as well, this video was right on time.
Nice. Keep us posted
Proud of you! Learn something new today..Kitlz. What state are you buying in? I am new to this and I am still working
Awesome content !
YOU ROCK GIRL! One day, I will wear my Ohio State track and field hoodie doing similar videos helping people !
Gold
Yo this is the best content on this side of the "Tube.
use ozone machine for odor elimination , you leave it inside 24-48 hours and also will kill any animal inside , dont leave plants or anyone there since is very toxic , however you can be there with just air ventilation , thats the best way to eliminate odors in homes specially if there was smokers in it
I can't WAIT to see the "after" footage of this house!
Thanks for sharing how the sausage is made … personally no intention on doing the same … but knowledge is king … thank you !
How do you plan the layout? Like how do you know what you want it to look like?
thank you for the content. Great videos. Wishing you all the success in 2022. And thanks for the Theodore Roosevelt quote on one of your videos.
Definitely broke this down great for me. I see how to estimate how a rehab will go. Great content
Hi Lili, awesome video, I have one question: When you convert the additional tiny extra house , how you separate the water and electricity from the main house? , Keep your awesome videos I learn a lot.
This was so great! I’m looking at a duplex right now that needs a lot of renovations which the current owner has agreed to do but may take her 4-5 months realistically to complete. Just to clarify, you put 20% down for your hard money loan? How were you able to ask the lender to take a tour of the rental with you? How long does it normally take you to complete the renovations? Do you pay the increased interest and payments on the hard money loan during that time?
How do you find your private money lender? Can you make a video talk about this?
Awesome job!!
great content Lili! Thanks for sharing your experience!
you doing your thing! Wasn't long ago that you started, love to see soo much progress....great channel.
Thanks so much!!
Your a boss, thanks for your content super helpful and inspiring!
Because of lili im going to make a milli heyyyyy bars 😂😂😂😂🔥🔥🔥
Hey, thanks for your amazing videos. I would like to know how to you find of market deals?
Hi Lili! Your videos are so detailed and helpful. They have been super instrumental in helping me learn about this business. I wanted to ask about contracts. Do you get them drawn up for you? Both Wholesaling and flipping contracts. I want to start wholesaling and flipping but I’m stalled on the legal process and where to find contracts/contract information. Thank you!
I follow this other wholesaler on TH-cam and he goes through the contracts and everything I will find his name and comment back on here
@@djexclusive215 thank you!
I love your videos!
love this channel! can you do before and after videos on your next reno please? I think it'll be better for us viewers and will elevate your production a lot more as well. Can't wait for the interview with the loaner
Love your content! Question, since you're converting the extra space into a second unit, will that add more time to the rehab due to the city's approval and getting the permits? In New Jersey it literally can take 2 or more months to approve plans and pull permits. So frustrating 🙄
That's a great question, especially since most of the build has already been done🤔
Can you do an video on your exit strategy from the hard money lender?
go watch perfect brrrr video
Another great video!
How many of these properties do you keep in your name?
In other words do you transfer to an LLC after refinance?
llQuestion:
When using the BRRRR strategy, are you purchasing and refinancing in your own name or a business entity like a LLC?
Thanks.
So how will you end up purchasing it? FHA or conventional loan?
How many rental properties you totally have now?
Yess, Lili do you have an LLC for your properties
Yes
Love your content.
💎
Great video! Very informative 😁
Lili, you said “floor plan designer”? Where can I find a floor plan designer? I flip houses and sometimes I need some help optimizing my square feet.
Ask around! Generally structural engineers have good recs for designers
I have a question on these houses that you do the Brrr method and getting max arv you still able to actually cash flow on these new numbers?
Thank you for this knowledge queen ❤ 🙏
Any time!
💙😎💙 You are soooo.... Inspirational. Thank you....💜
Wow, thank you
Second
Wow Just stumbled across your channel good stuff! Also you mad cute 😜 wild wild thoughts!
@lilithompson Why not base the ARV off of the lowest comp that way you know at a minimum the house would be worth x amount of dollars after it's rehabbed?
Because the ARV is the starting point that eventually determines your max allowable offer, and if that's too low, then you jeopardize not getting the deal, because you lowballed the offer. Plus, the lowest comp was for a much smaller home. It's best to be somewhere towards the middle, to keep from offering too much OR too little.
YEEEEEEEE DUPLEXXXX LETS DO IT
Would you evaluate things differently or change your strategy if you were going to house hack? I’m thinking of buying a duplex and living on one side and renting the other. But I still want to find a slight fixer, add value, and get some instant equity to do a cash out refi.
Yes. Go watch my house hacking playlist to see how I run those numbers
@@Liliinvests okay, I’m about to check them out now. Thanks!
Hey Lilli, great video! how did you get to the 255,000 number if the comps are 190s, 172s, 255? Did you just pick the highest comp?
@aneshawright Good question. I also wondered if the house is right by a main road wouldn't that mean that it probably won't fetch top dollar so it won't go for 255? Not trying to rain on her parade just curious as someone who is getting into real estate investing.
Hey Queen Lili
so what was your take away once all was paid?
Where is this property!?. What state?. This is great for price.
After a bankruptcy how long should i wait to pre-qualified for a mortgage loan?
Mom, leave the door open! Crack the window. Once you are done, close it. This way, you get a better understanding of what needs to be fixed or removed!
And you will be able to breathe and air out that funky house! Hahahaha!
Can anyone inform me on how to have Zillow, and Redfin notify me for “as is” properties?
I’m binging your channel!!
Thank you!
Nice 🔥
Can you wholesale half a duplex??
First
i live you big sis lili
What city are you investing in?
Firefighter advice. When going into stinky homes Vicks vapor rub under your nose is your friend
THANKS BEAUTIFUL
9:05
Smart lady. Will you ever invest in Apts and/or Self Storage?
Stay tuned :)
@@Liliinvests lili to gain knowledge in acquiring apts &
self storage please see Peter Harris's YT videos and then contact him for more info. I highly recommend him.
isn't there such thing as over leveraging yourself? How big is your portfolio and how much is owned by the bank ? ...
So you’re holding this property long term right?
How do you find good contractors? 😔
Hey, you got up on the roof!!😂
Lol I was nervous too
🙌Bravo🙌
how do i get on your buyers list?
Email Caleb@LiliInvests.com with your info
Where you find duplex for $217k?
I don't know where you are from. I see your doing thing's to better your life. I know how to fix almost anything. If you would like to have me do some work for a better price and better quality I would love to work with you. In oder to flip a house you need good bug price and great work at a affordable price witch I could provide. I can do landscaping and as well all home improvements. Stay blessed
Any one near Savannah Georgia let’s team up
Can you share your current youtube income?
Sound like you just bragging .
Lol yet you watched, preciate ya!
Sounds like you just hatin 🤷🏽♀️
Says "1st place records"😂
corny topics
Says the hater with 6 subscribers 😂😂😂😂😂
@@MRSTECPT hon, just ignore trolls. They die when you don't feed them or give them oxygen