All Forum Posts by: Albert Gutierrez

@Joshua Gutierrez congrats on the great life you've had so far, I'm semi new to investing and I'm also in CA, if you want to connect to grab a coffee and talk about investing let me know, I'm young but full of ideas and knowledge

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Originally posted by @Albert Gutierrez:

I found a property in Texas (Duplex with an extra unit so a Triplex) that has rental incomes of $2375/month, recently renovated (like 2 years ago) and it costs around $150k, am I missing something? putting 20% which is 30k it would net around $1525 after the mortgage payment and taxes. Even if I pay some management it would generate around $1000/month of cash flow, which is why I'm intrigued since this seems like a no brainier but I'm new to real estate investing and I want to ask for all your experts advice

Cleaner Look:

Update on numbers:

150k Home

20% down payment 30k

interest rate 4.5%

property taxes: 2k/yr

home insurance: 1500/yr

Monthly Rents: $2325

Unit 1: $900 2bd 1ba

Unit 2: $825 2bd 1ba

Unit 3: $600 1bd 1ba

Monthly expenses:

monthly payment would be $913 (includes insurance, taxes, P&I)

Vacancy: $193.75

Repairs: $100

PM: $200

CapEx: $150

=$1,556.75

CF= $768.25

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Originally posted by @CJ M.:

@Albert Gutierrez

Sounds like a good deal to me based off the numbers.

Monthly Income

$2,375 rent

Monthly Expenses

$650 mortgage (estimated)

$594 (assuming 25% capex, repairs, vacancy, PM)

$300 Insurance/Taxes (estimated)

$1,544 Total Expenses

= Monthly CF of $831

As other have said, make sure there aren't other expenses like lawn care, utilities, laundry, etc.

This actually seems pretty accurate, I actually have the projected property taxes for 2019 which are $2,000, and I'm basing the Insurance on $1500/yr so based on this we can get a more accurate picture

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Originally posted by @Sid Jones:

@CJ M.

It’s Texas- double your property taxes and insurance. 🙄

This looks about right if you’re not In AustIN.

As noted - do your due diligence and it’s likely a real deal.

He did, he put $3600/yr for insurance and taxes I will update my post with more accurate numbers

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Originally posted by @Jake S.:

Hey @Albert Gutierrez How confident are you on the rental amounts and the location?

Since it is out of state for you, I'd find a solid property manager in the area and see if they can verify the location quality and the rental amounts projected. They should be able to help you be a bit more confident in your numbers.

While this sounds like a killer deal, it does sounds a bit too good. Does that mean something is wrong? Possibly, but possibly not as well. I'd for sure dig into it with some boots on the ground in the area.

Maybe the structure itself is messed up a bit and needs work?

I guess my question would be, how would I find someone in the area that would help me but won't snatch it up if its a good deal lol?

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Originally posted by @Tory Dennis:

I'm also looking into this strategy as well. OC is a tough market to break into unless you can spend close to a mill, but I have found some properties in the nicer side of santa ana and also in fullerton/anaheim areas that are reasonable!!!

Where are you finding properties, can't seem to find anything

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Orange County, California

@Troy Dennis, what resources are you using to find those properties? Can't seem to find anything

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Orange County, California

All Forum Posts by: Albert Gutierrez

Albert Gutierrez has started 25 posts and replied 67 times.

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