All Forum Posts by: Alfonso Aramburo Zepeda

@Anthony Ybarra

Nice! See you there!

I’m curious about what the strategy could be for buying on expensive markets as I want to start in Real Estate but I don’t see how. Any ideas??

After looking at the MLS for months now It is hard to believe that it is a good time to invest in Buy & Holds for SFR's as the standard is not meeting the 1% rule (.5 in avg). I would say flipping houses, wholesaling or BRRRR for CASH only sales or Short Sales once every blue moon are the best ways to jump into real estate.

What would you do to start in RE if you were in an expensive market where cash buying properties is no option? (I have limited funds).

@Charles Goetz

You said it right. Those are all the things I’ll consider today when going to inspect a house and estimate how much would I need to consider to invest on doing that.

Thank you

@Frank Chin

Great advise! One of the properties I've been analyzing has potential to be cashflowing once getting the permit as the zone is not SFR as I got into the city public records online already.

I will double check going to the city anyway as this is the first time doing these.

@Aaron K.

I see, so the likelihood of renting the property at 2400 is less. Thank you for the input

I think I found a Deal but one of the things that makes me not moving forward with it is not being sure about the numbers.

The asking price is 370,000 and the comps go anywhere between 270,000 up to 490,000 in a .5 mi radius, houses being very similar (4bed houses). A house like this one was just sold for 370K. Since it needs about 10K in repairs my initial though was to offer 350K.

How can I "appraise" this house and know what the ARV is if the range is way too open?

Thank you BP people!

@Aaron K.

Comps for a 4 bed house that size is 2100-2400.

@Joseph Walsh

Hmmm. Good point. Will run the numbers...

I took the rent from Zillow Rent comparing houses nearby. Maybe it is off.

Correct, I'm just accounting for materials as I've been in the remodeling business for over 2 years already and have somehow the knowledge to get it done. I work for a countertops company as my full time job, so I get a big discount for material as well.
One of my buddies who has a remodeling contracting license specialized in cabinets will help me revitalizing those cabinets as a way for him to start with his business & have a project to show for future customers.

About painting I will consider sourcing that out if it's not that expensive.