@@goreeska5014 thank you for the sub! I definitely appreciate you. For this particular deal, do I did not have to, because I bought it via creative financing. And I funded the rehab with money I had out of pocket.
@ it’s a bit harder to get any type of sub loan from a traditional bank or lender when you have acquired a property creatively. Because the bank is still in 1st position. Usually your lender will want to be in 1st. I know I was rejected by a few different lenders when I presented them this deal (to fund my rehab) due to that. It was not ideal for me that I payed out of pocket. But I just did it anyways. For deals like these- If you are unable to gain capital for the rehab - I would recommend JVing or partnering on the deal with someone who does. Or finding a private money lender that is willing to be 2nd position. There’s other ways too but these are the simplest most cost efficient ways.
@@TheRealTeflonRon just depends on what your buy box is , there’s plenty of opportunities for deals in every city. Each deal can yield different returns based on how its structured
@ max I can go is $450-$500k. I have a friend that has houses in Richmond and Va beach area that’s not selling. He does full renovations. Seeing his properties not selling makes me think of is it a good time.
Contractor took advantage for sure... WYM its MONDAY MORNING and they not at the job site. It also looks like a mess, that's probably what signaled whoever stole that copper
That’s really good insight. After that Monday morning when they weren’t there, I ensured that moving forward they were working around the clock from then to make sure the rehab was done ASAP.
Keepndoing your thing youngin. Don't be afraid of asking the hard questions and don't be afraid of being tuff. If things aren't going on schedule or as planned it's time to have a talk with your GC. This Real Estate Game will eat you alive. Keep Grinding
@iamchrisawilliams yeah man. You seem to have the passion, I would also recommend getting 2 or 3 quotes for stuff you need done. It's okay to trust people, but remember that there are still crappy people everywhere. I also ask hella questions about why something cost what it cost and then ask those same questions to the other people who I get quotes from, so cross reference what I'm hearing.
Nice job Chris! I just finished one where my rehab was $130k! Keep us updated.
@@bizmatthew sheeesh! How big was the square footage for that one for a rehab that high?
@@iamchrisawilliams Not that big, about 2100 sqft but it needed a good amount of work
Thank you for explaining in detail.
@@keneg2406 you’re welcome! I appreciate you watching! Hopefully this video was able to give you some valuable insight
Such a great video !! 🔥🔥🔥🙌🏾🙌🏾🙌🏾🙌🏾
Thank you so much! Glad you enjoyed it!
Hello loved this video. I would just asked if u can make a video explning the vocabulary use in this line of work. Like buyer seller holding ect.
Great video. Thank you for sharing ❤👏🏽
@@BriPri-89 thank you so much! 🙏🏽
great work bro!
@@filippbloom9997 thank you! I definitely appreciate that!
Great work love to join the team
@@AmazinHandymen thanks so much!
New subscriber here, love the video and looking to get into real estate investing. Did you have to get a loan for the rehab?
@@goreeska5014 thank you for the sub! I definitely appreciate you. For this particular deal, do I did not have to, because I bought it via creative financing. And I funded the rehab with money I had out of pocket.
@ thanks for sharing. For someone who may not have that much capital, would a construction loan work in this scenario just for the rehab cost.
@ it’s a bit harder to get any type of sub loan from a traditional bank or lender when you have acquired a property creatively. Because the bank is still in 1st position. Usually your lender will want to be in 1st. I know I was rejected by a few different lenders when I presented them this deal (to fund my rehab) due to that. It was not ideal for me that I payed out of pocket. But I just did it anyways. For deals like these- If you are unable to gain capital for the rehab - I would recommend JVing or partnering on the deal with someone who does. Or finding a private money lender that is willing to be 2nd position. There’s other ways too but these are the simplest most cost efficient ways.
@ thank you so much. This makes a lot of sense. Appreciate you taking your time to break down these details.
Did you flip the house while the seller still owned it?
So this was a subject to deal?
Yes! I acquired it via the subject to method
I live in Va and I got some money to flip. Should I pull the trigger on a flip property? What area in Va is hot?
@@TheRealTeflonRon just depends on what your buy box is , there’s plenty of opportunities for deals in every city. Each deal can yield different returns based on how its structured
@ max I can go is $450-$500k. I have a friend that has houses in Richmond and Va beach area that’s not selling. He does full renovations. Seeing his properties not selling makes me think of is it a good time.
@ send me an email - admin@iamchrisawilliams.com - let’s talk further on it
Hi. What state is this in?
@@ellepatton in Hampton Roads, Virginia
I like Hampton. Let’s work together
@ let’s do it!!
Contractor took advantage for sure... WYM its MONDAY MORNING and they not at the job site. It also looks like a mess, that's probably what signaled whoever stole that copper
That’s really good insight. After that Monday morning when they weren’t there, I ensured that moving forward they were working around the clock from then to make sure the rehab was done ASAP.
Keepndoing your thing youngin. Don't be afraid of asking the hard questions and don't be afraid of being tuff. If things aren't going on schedule or as planned it's time to have a talk with your GC. This Real Estate Game will eat you alive. Keep Grinding
@iamchrisawilliams yeah man. You seem to have the passion, I would also recommend getting 2 or 3 quotes for stuff you need done. It's okay to trust people, but remember that there are still crappy people everywhere. I also ask hella questions about why something cost what it cost and then ask those same questions to the other people who I get quotes from, so cross reference what I'm hearing.
@ yessir! Definitely makes sense. I appreciate that advice!
@ thank you for that advice! Very valuable & very much appreciated