All Forum Posts by: Alex Ramirez

I am not sure this ever happened but if it did, please let me know

@Chandler Butler you absolutely can!! Many people think you need to graduate from residential to jump to commercial. I personally started in commercial with a 9 unit and I am not looking back. Don't let others dictate the outcome of your goals. "Whatever the mind can conceive and believe, the mind can achieve - Napoleon Hill". Please reach out if you have any questions or need more guidance. I have a ton of book, podcast, etc recommendations. Best of luck to you!

@Colton Hahn could not agree more. Apartments are a recession proof business model if you buy right. When there is a recession, people lose their homes or cannot afford to buy one and apartment demand increases even more. I love commercial mtf because you can control the value of your property. The more money your property generates, the more it is worth. Plus all the tax benefits. There is no better investment in my opinion 

@Tyler J. that’s called analysis paralysis. You just need to overcome your fear and make it happen. Make sure the numbers make sense. I won’t be a bad idea to run your numbers by someone that has experience already. My first deal was a mess and I lost money but I don’t see it as a loss…. You either win or learn. Best of luck to you! 

@Chris Anderson there are companies that will do this for you. They will literally put the machines for you and run them including maintaining them and the split is 50/50 most of the time. Not sure where you are at but you don’t really want to have the liability of faulty machines and having to deal with them. Let me know if you have any questions 

@Kenisha B. I would not suggest putting everything you have saved up as a down payment. If you are going to be occupying your property you do qualify for an FHA loan, which requires as little as 3.5% down. Good Luck!!

Negotiate a master lease agreement with an option to purchase in 2 years with the seller. Seller financing is the way to go, no bank fees, etc. it’a a win win 

Hi @Kenisha B. few questions and ideas for you. To me it is always a great time to buy Real Estate as long as the numbers make sense. Now, I do see you are looking for a turn key property. A question and maybe an answer for you is, are you currently paying rent? If so, will this mortgage for your own property be about the same or a bit higher? If the answer is yes, then I think it is a win for you. You are basically going from renting a place to owning your own place and putting your money into your own property, not someone else's. Now, the numbers won't probably let you cash flow with the current market conditions but you might be out of pocket perhaps less than what you are paying for rent right now. To me that is a win. Another idea is list your other half of the duplex on Airbnb and VRBO. I have a short term rental home near the med center and it is producing well. This month alone will bring about $3,500 gross income. Another idea is rent by the room if it is close to a hospital, school. It just takes about getting a bit creative. Let me know if you have any further questions. Happy to help

Hi @Andrew Michaud from what I can see it looks like a good deal. Now, I'll be curious to see if there is value to be added so you can bring that cash flow up even higher and the property value. Do you know how much are the market rents compared to what this place is renting for? Is there any room for improvement? Also, how much vacancy do you have? Does the Gross income match the rent roll per the leases in place? I recently bough a 12plex in Texas for $30K per unit and I did not do a full inspection. Turns out all AC units are going to have to be replaced soon as well as the roof. I suggest performing a detailed inspection unit by unit, remember you can use an inspection report as leverage to get the seller to decrease the price. Also, a good idea when you take over is to implement RUBS, so this is basically charging your tenants back for utilities, including trash and pest control. Insurance you can shop around to improve your current expense and electricity you can replace all the light bulbs to LED ones to cut your bill quite a bit. Let me know if you have any questions. Best of luck to you!!

@Daniel Schafer please IM me. I have a recommendation for you