All Forum Posts by: Alexander Diaz
Alexander Diaz has started 5 posts and replied 10 times.
Post: What Do You Think of This Property

- Posts 10
- Votes 2
@Branden Rivero thank you for the offer but at the moment I am in my analyze phase. I am 18 and do not nearly have the capital to even acquire an FHA loan but thank you for the connecting opportunities, I will for sure use your connections in the future once I get the capital.
Post: What Do You Think of This Property

- Posts 10
- Votes 2
1286 NW 59th St, Miami FL
I found this quadplex which if the owner would be willing to come down on price I could rent it out for $442 /month cash flow or 15% return after living in it for a year so I could apply for a FHA. what do you guys think of the property,
With the way things are in Miami I have found trouble looking for cheap properties I can turn into duplexes. They are either not in ideal locations or are too expensive. Miami is known for having a big apartment market I and feel as though my potential duplex would be lost in all the noise. Any tips?
Thanks
Post: What Do You Think of This Property

- Posts 10
- Votes 2
I came across this property and I wanted to share it to see what you guys thought. (I am not in the market to buy currently so I am not afraid of someone stealing my Idea)
37531 E End Rd, Lucerne Valley, CA 92356.With Real estate being as expensive as it is in California having a property being sold for less than 100k while also sitting there for months is unheard of. Crunching some numbers you could cashflow $300-$700 a month from this property. Can someone else run through the numbers to see if this would be a potential property that would make money.
-Thanks
Post: Has Anyone Ever Looked into Camden, NJ for Investing

- Posts 10
- Votes 2
Save some homes for me!!!
Post: How much income should I allocate with a 200k salary

- Posts 10
- Votes 2
Quote from @V.G Jason:
Quote from @Alexander Diaz:
Hello everyone. I am an 18 year old freshman in college working towards a Phd in Economics. I will be around the age of 24 when I start working making around $200,000 a year plus whatever my partner makes. to make things simple let's call it $275,000 household income. I do not mind living below my means for a couple of years in order to start my real estate journey. My students loans will be around $1,000 per month which for my salary will no be a problem. The houses I look to buy for investing will be around $100,000-$150,000. How much should I save up per year so I can start investing after a few years. I plan on using the BRRRR strategy to also help finance future investments. Would love to hear your thoughts.
I would get past bachelors, see where you are going for your PhD. Once you get closer to graduation, then focus on how to align. Best thing you can do is live like your getting your PhD after you get it for the first 3-5 years. It'll wipe away 15-20 years of future pain.
Because of my academic success and credit cramming I will be able to get my Phd as early as I've said and because my parents are very supportive and have money to spare if I ever needed help financially they my back.
Post: Has Anyone Ever Looked into Camden, NJ for Investing

- Posts 10
- Votes 2
I grew up close by to Camden NJ and if you know anything about the area, you know it is one of the worst crime areas in the entire country. But it has an unknown charm to it that I do not believe hardly anyone knows of yet. from talking to people who invest in Camden, you can buy a townhouse for around 60k, spend about 20k in repairs and rent it for $1000-$1200/month. The demand for houses is always there as 66% of the population are renters. It is also across the river from Philadelphia and the average person there cannot afford a mortgage which grows the need for renting. Camden is a low barrier to entry place and I have calculated (along with someone I know who invests there) that there are dozens of houses on the market that can generate great cash flow for little start up. A $40,000 investment can net you about $4,800/year on average from what I've found. I would like to hear your guys' thoughts of this.
Post: How much income should I allocate with a 200k salary

- Posts 10
- Votes 2
Quote from @Theresa Harris:
Unless a PhD in Economics means you work making $200K while doing your PhD (none of the other PhD programs I know work that way), you will be older than 24 when you start your job. Your undergrad is 4 years, PhD is a minimum of 4 years (most in the US take 8+ years) after that. I'd also check if you need a PhD. Most people get those to go into academia, not into the business world-MBA works for that.
Best advice is once you are done grad school, keep living like you are in grad school and saves as much of the money as you can.
I don't know what a $100-150K house looks like where you plan to buy, but if they are the cheapest houses in the area and in rough areas; do not buy them. Aim for the less expensive houses in good areas. On paper the cash flow will be lower than the cheap houses, but in reality they will be less work, make more money and you will have lower turn over.
Unless you currently have partner, don't assume any income from them because you may not have a partner or perhaps they will also make $200K/yr.
I hear what you are saying. Because of academic successes I have I will be able to complete my Phd in 6 years. And I do have a girlfriend who plans to work as an accountant. But I understand what you mean by nothing being set in stone.
Post: How much income should I allocate with a 200k salary

- Posts 10
- Votes 2
Quote from @Chris Davidson:
@Alexander Diaz not to be sarcastic, but if you are going to have a phd in economics I would trust your gut knowing your situation over a bunch of internet strangers. Also you are 18 and have 6 more years. Focus on reducing your debt. Don't accrue more. a 200k salary fresh out might not be so accurate. Also in 6 years the house you were looking to buy at 100 to 150k will not be 100-150k. Build your knowledge of investing see if you can start sooner and work on making sound financial decisions from here on out.
Best of luck!
I get what you are saying. And a 200k salary for my Phd is accurate.
Post: How much income should I allocate with a 200k salary

- Posts 10
- Votes 2
Hello everyone. I am an 18 year old freshman in college working towards a Phd in Economics. I will be around the age of 24 when I start working making around $200,000 a year plus whatever my partner makes. to make things simple let's call it $275,000 household income. I do not mind living below my means for a couple of years in order to start my real estate journey. My students loans will be around $1,000 per month which for my salary will no be a problem. The houses I look to buy for investing will be around $100,000-$150,000. How much should I save up per year so I can start investing after a few years. I plan on using the BRRRR strategy to also help finance future investments. Would love to hear your thoughts.