All Forum Posts by: Andres Calderon

You have more than enough to flip. I would highly recommend looking into some auctions then.

There are great deals out there for example I bought a home for $52,000 didn't put a penny into it sold it within 3 months for $95,000.

Don't be afraid of thinking you are making a mistake go for it.

Andres Calderon

That's more of a personal question john because many would say go down the rental road for security, cash flow and what not especially since you have a family but It also depends on your drive and level of success you want to reach within the real estate industry.

The two scenarios:

1) If you purchased a house for cash flow ( income producing property)

You would be able to quit your job and be sustained by your cash flowing property. However.. I imagine that especially with a family at some point that money will not be enough.

2) Buying to flip

You wouldn't be able to quit your job quit as soon as you'd like BUT if you just endured that job a bit longer and thought about the future then bought to flip you can start to accumulate a lot more capital. At one point you will be able to purchase both rental income to sustain your family and STILL have capital left to flip a house. The time frame for this ? Really depends on you but think about it in one deal you could potentially double your money if bought for the right price in less than one year.

I hope i was able to both visually and financially paint these two scenarios for you.

Either way congratulations on wanting to make the first step into the industry best of luck !

congratulations ! Patience was the key to success !

Most answers will be coming from a personal experience but without being biased they can be great if you have them in the right locations.

Properties surrounding Amusement parks, national parks and beaches are all great.

We hold a couple properties in ski resorts and those are rented all year long even with the insurance, HOA fees and property management fees being a little on the steep side.

Its all about location just like anything else within the real estate industry.

Regards,

Andres Calderon

There is no simple nor short response to your questions since real estate is such a huge industry with many branches buttt here is a general over view..

-As far as funding goes best advice i can give you is find an investor. Do your numbers right and show him what his percentage return will be on his investment.

-You could also wholesale, put a property under contract then assign it to someone else for a higher price

Type of properties?

single family homes, multi family, condos, mobile homes, commercial, vacant land.. or did you mean Foreclosures, short sales, tax deed properties, FSBO (for sale by owner)

Education?

READ ,READ, READ everything and anything you will always learn something. Don't bother with programs or a course there is nothing they can teach you that you can't learn on your own. Some will help you improve but regardless you need the initial foundation of knowledge from trial and error to understand what to do when something goes wrong and what to avoid.

Best of luck !

Andres Calderon

@Sovannary O.

With that initial investment i would highly suggest getting into auctions ( due your due diligence well though ). You could also look into mobile home trailers most of the time they are sold separately from the land but on different occasions theyare sold WITH the land .

Best of luck !

Andres Calderon

Welcome ! and congratulations on taking the first step !

Hand raised here as well!

@Jorge Torres As far as tax deed auctions in florida goes negotiation is not possible.

There is a fixed starting bid on each property so not sure what they were referring to by "negotiating".

Most liens including the mortgage gets wiped out but others such as Irs liens do not so it is crucial to do you homework.

But yes the ultimate goal is to buy the property for a very good price to be able to do any repairs if necessary.

This past month i bought a condo for 14k and another one for 21k so yes it is possible to purchase properties for very low prices but 3k at least in florida seems a bit unrealistic. Land yes, there is plenty of that here.

Like @Account Closed said it depends where you live. Some states have different regulations. I would actually suggest finding an investor if you are going to attend auctions its best to have the cash in hand.

Best of luck