All Forum Posts by: Alberto Camacho

Doing OK?? Your kidding right. Rehab and rented in 5 weeks. On top of that your saving 31% of the rent roll for contingencies and still flowing 300 bucks. I'd say that's a sweet deal. You've done well.  If I may ask, what was your total out of pocket? Just a round number if you can. 

As you get a better understanding of the actual repairs costs and vacancy rates that % number can get lowered. Lenders like 6 months reserves. Once you have the reserves don't shy away from creative financing. I was talking to a hard money lender that would give me 7% with 2 points origination fees. Develop those relationships and money will find you. 

I'm working deal in North Tarrent right now. The same reasons anyone moves to an ares, low crime, good schools, good neighborhoods and cost. There are always pockets that are less desirable so you have to be careful. Rental comps and CMAs are important but they are only one part of the puzzle. Even in good areas one needs to be careful.

I was looking at a great corner property and the next door neighbor had created a dog run in his yard. Buying next to what appears to be less than social pets was not something I wanted to dabble in.

For an intermediary speak with Lu Ann Blough at Exchange Resource Group

get a competitive quote

 Welcome to BiggerPockets!

I hear ya, I leave the cards at home. Save those dollars for the next deal. I've attended a bunch. All are selling something. Have you considered arranging a networking event? If its in my farm i'd attend. 

 Cool, I wish you continued success. 

Thanks,

I found it interesting some found Property Management off putting. While the goal may have been for the wholesaler to obscure his role, he did not hide it when asked. To me Real Estate Operator has a blue collar connotation to it. I can see how that might not be the case for others though. 

So whats the verdict?

For networking there are a few groups on the Meetup website. Its really easy to identify the larger groups. I'm sure you can find something locally that will fit your needs. 

Have you started conversations with the business leaders and police department in that community? I don't expect "hiding" legally is going to provide any real sense of comfort. 

Once there is illegal activity its a completely different ball game. Changing the tenant profile will make you sleep better at night and raise the value of your investment. Work on changing the profile right away. The longer its drawn out the more likely you'll be faced with a difficult situation.

True story...I know of one investor that spoke of the police raiding his apartment complex a couple of weeks after his purchase. In preparation for a fence upgrade the contractors had greased the fence the days before. This made it very difficult for those to escape raid day.