All Forum Posts by: Alvaro Arango

@Bobby Paquette Seems like a great deal. Seems to be better than the 1% rule which is awesome but I did not see the monthly mortgage payment? Still would be a great deal. Any add value in this property?, could you fix it up a little bit and increase the rent to $1000 monthly? If it is just cosmetic stuff, could you do the work yourself perhaps?. Good deal.

@Anthony Torres Initially, I wanted to be more on the passive side for which I made a goal to buy a house every year and saving 20% down (which could be challenging but I was able to do it). Pretty much buy and hold. My goal at that time was to at least make $100 of true cash flow per unit/single-family home but I exceeded that. I wanted to at least semiretired however I saw the potential in doing the BRRRR strategy, multifamily, and scaling the business. My goals changed and no I'm looking to replace my income. Once you start getting creative, you come to realize that using other peoples money can be very beneficial to Scale up . My why is that I want to at least spent most of my time with my family and children and help my family. This is my why. I hope this helps

@Anthony Torres  I agree with all.  When I first started in real state, I read a little bit about everything to have an idea. However, the most important thing to do is to identify your goals and where you want to be in 3 to 5 years. Remember, it can be as aggressive as you want or passive. The important question is what is your why?

I totally agree w/ @Bryan Mitchell, 5% seems low to me, I think 8-10% is more reasonable. @Sarah Grossbach your NOI monthly is $2075 which I believe all the expenses are included. How much is you monthly mortgage payment? It seems to be a pretty good ROI. Also, did you research all the numbers or was it provided by the seller?

@Blaine Cox I'm the process of looking into scaling to Multifamily 8-24 units. I have been talking to some Hard Money lenders recommended by BP. Most of them do required experience but also putting 20-25% of the deal if you are looking to Buy and Hold the multifamily. Some will cover 90% if your fixing the Multifamily. They also required some experience. The less experience, the more money you have to put down but bringing a partner might be helpful. Hope this helps. 

@Hairo Meza Congratulations on taking the initiative to get into Real Estate. There are so many great areas you can get into but the key is finding your niche. I would recommend reading about wholesaling, buy and hold, BRRRR, Flipping, Multifamily etc. There so much to learn but picking your niche will be very helpful. Using FHA is a great idea. If you want to chat send me private message. Good luck

Hello BP friends,

My name is Alvaro, I invest in SFH in Maryland but I want to scale to Small Multifamily. I've looking into Hagerstown, MD but I don't know much about it. Any investors in Maryland out there who can share some information? Anyone investing Hagerstown? Thoughts? I appreciate any information and insight. Thanks

@Drew Eldridge I am a Hospitalist PA working in the Maryland/DC area. I currently own 1 SFH in Baltimore and 1 condo in DC. I'm looking to expand some more and continue to grow.

Hello BP,

Does anyone out there in the Baltimore area know a good electrician and roofing company. Any recommendations would be really appreciated. 

Thanks,

Alvaro

@Isaac Wagner I totally understand your situation. I 'm in the same shoes, 9-5 job is not going to help you with financial freedom. I agree with Ozzy, Baltimore is a great place to start looking for places with good cashflow. You can find some good properties between 60-80K in class B/C neighborhoods. Also, you mentioned buy/hold, flips, and wholesaling. My recommendation is to stick to one idea only. Real Estate in different areas can be challenging. If you just focus on one thing only, like buying and holding, this will make you a better investor, but if you try to do too may things wholesaling, flips, notes, and buy and hold, I personally think it will be too much. I personally recommend buy and hold properties with a good ROI. Good luck!