All Forum Posts by: Andres Echavarria

Thank you guys for such a quick response! I will definitely find a reliable contractor to do the work that requires permit for my next deal. This will also free up a lot of time for me to focus on making some more money and finding my next Investment! 

Hello everyone

Trying to complete my first deal and need some advice and recommendation  

        I live in Daytona Beach, Fl, where I recently completed the renovation of my first property. My dad and I did all the work on property including roof, tile, kitchen etc. When I went to pull the permits for the roof at the licensing and permit office they said something that spooked me. They informed me that, because I performed most of the work on the property, I was not allowed to sell or rent it.  Since then I have been doing some research and have talked to a few real estate investors. Not one of the investors had ever heard anything like it before. One of them informed me that the city doesn't even know if its rented or not. He advised me to keep the utilities under my name and include them in the rent.    

My original plan with this property was to hold on to it for a few years while collecting some cash flow. Then after 5-8 year sell. I would truly appreciate some clarification and word of wisdom at the moment. Thank you guys for hearing me out. 

I am just looking for some advice and guidance that might help me get a good deal on a property. My neighbor passed away last year and his house was, I guess, inherited by his siblings. They don’t have it rented and no one is occupying it. They only come once or twice a month to check on it and pay to keep it maintained. I am starting to think that they might want to put it on the market soon. This property is in a great location for a rental and it is in great conditions. I have thought about approaching them but don’t really now how to tell them that I am interested in the property. My other neighbors have told me that the current owners of the property are well of and have no need for this property. What are your thought about my situation? Any helpful advice?

Hello Everyone! I am currently a full time college student and have recently started to become very interested in real estate investing. When I have time, I work for my cousin on his properties. I have worked on a handful of flips and have been fascinated by the results. Since I am only 19 and have very little credit experience, I doubt that any bank will give me a mortgage. On the other hand, my Dad offered me his saving for me to invest in a property, which we would work on together and split the profit. 

The only thing holding me back is the thought of putting my Dads hard earned money at risk. I understand that risk is always precent when investing, but with the right knowledge many mishaps can be avoided. I was wondering if any of you from the BP Community had some advice that could help me make the right decisions. 

Here are some of my main concerns. 

-Estimating the repairs and expenses

-Determining selling price for fair sale as-well as fair profit

-Knowing what needs permits and what is fair game for me to do my self. 

-What kind of properties to avoid and which ones to look for. 

I am all ears please help me out and thank you for your time and advice!