All Forum Posts by: Alfredo Alfaro

Hello, as I am looking to house hack a Quad-plex or Tri-plex I am curious how other people have self managed their properties. 

What kind of software are you using, if any, to facilitate repair request from tenants and to receive payments or notify tenants of late payments and such? 

What has helped with communication between the tenants and you?

Also I know a lot of people are split between telling the tenants that you are the owner or just telling them that you are the property manager. Thoughts? 

I am ok with a little risk. I am definitely taking into account all expenses and setting aside money for anything else. I am looking for averages of what people pay for their coverages annually or monthly and what kind of deductible they choose to go with so I can make sure to make the best decision. 

Hello, I am looking into getting a quad-plex or Tri-plex with home-owner occupancy so I can get in with a lower down payment. I was curious though about the insurance coverage I should have? I know usually a rental insurance coverage is needed if I wasn’t to live in the property but I also don’t know what a good deductible would be to start with or if $900 a month is a good rate. Any information would be great!! Thank you in advance. 

Also since I would be residing in the quad-plex would I need rental insurance and home owners insurance? 

I remember listening to some podcasts and hearing that you can get an 90/10 or 80/20 or 70/30 LTV and use creative ways of funding the 10%, 20%, and 30% down. I have found some loans and not just traditional loans but unconventional as well and was wondering about how some investors have used or found creative funding for the 10%, 20%, or 30% down. Do you get another loan from a hard money lender or traditional? How have you or others funded the additional amount using OPM (Other People's Money)? Also, would you recommend doing it?

Hello I was wondering what kind of insurance everyone tends to put on their RealEstate Investment Properties? My Insurance tells me about how their system advises to have a certain amount and if I want to change it that’s possible and my Lender tells me I must have a certain amount. I just wanted to hear about other Investors opinion is over this topic and how they cover their properties without taking an arm and a leg. I know that depending on the property and location it could be more but typically for a Multi-Family it could be around this much… and for a Single Family around this much…etc. I’m looking for any information. How much should the deductible be, how much coverage for liability, should I include renters coverage (for potential loss of rents), anything else I should include? 

I remember listening to some podcasts and hearing that you can get an 90/10 or 80/20 or 70/30 LTV and use creative ways of funding the 10%, 20%, and 30% down. I have found some loans and not just traditional loans but unconventional as well and was wondering about how some investors have used or found creative funding for the 10%, 20%, or 30% down. Do you get another loan from a hard money lender or traditional? How have you or others funded the additional amount using OPM (Other People's Money)? Also, would you recommend doing it?

Hello Everyone, I am new to Real Estate Investing and I am looking into getting into Buy & Hold (Rental) Properties. I have come across some properties for sale and have crunched some numbers and am asking for additional information to make sure the numbers work before putting in an offer. 

My question is that I have heard on some BiggerPocket Podcasts that some Investors have their Real Estate License and have charged their fee for finding a buyer (themselves) and received this at closing or had the funds go towards closing costs or down. 

Can this be done if you don't have a license or would it depend whether or not it was a For Sale by Owner vs MLS, Zillow, etc.?

Just wondering because I have heard somewhere, I believe on a YouTube Investing Video not sure though, that they did not have a license but they still added a buyers fee in place of the agents finding a buyer fee. What are everyone’s thoughts and would you do this or when would you or would you likely not do this?