All Forum Posts by: Andres Garcia

@Dylan Tanaka How do we know if it’s a deep discount, when the property is being sold at 80k and the comps around it are also lower if not 10k higher. Is it a strategy to bank on “growing” neighborhoods? And how would we justify if that neighborhood would grow. I think the only option i have to wholesale anything in this competitive market is D4D because houses on the market are getting snatched up and offer flowing in above market value

I live in Michigan, and the housing market is so damn competitive real estate blogs calling it “absolutely crazy”. Listing rising by double digits for every offer, and I heard something about our market rising 40%. I see my city growing every single day with new built neighborhoods, and new built condominiums. The thing is in my 21 years of living here I’ve never seen Michigan valued this high and never seen the scene so competitive (I feel like I’m living in Texas right now). Should I wholesale deals even when the comps are questionable? Or should I expect a bubble being formed and wait for it to bust? This is like Real Estate innovation for us, we are setting the bar higher but we don’t know how high?

I’m looking to invest in Multifamily both residential and commercial. My plan was to house hack my first deal I find whether that’s duplex - fourplex with my wife and kids. Then after I save enough money for another DP with cash reserves I wanted to buy a personal residency for my family. Is there ways I can continue to build my portfolio without slowing down, and is there any advice for looking for a great deal on a permanent home residence. Will this home slow down my portfolio building?

Appreciate the advice and taking your time to reply to my post.

This question is back when Matt invested in his first 2.25 million dollar strip mall deal. The 80% of that price was loaned by a bank, now did the sellers carry provide the other 20% down payment and needed Matt to pay a 15% mortgage and also needed to provide the 5% through pocket? What I'm trying to understand is if the seller provided the 20% down payment why is Matt paying the 20% still? So Matt is the buyer correct? which means he's buying the 20% from the seller? Through a 15% mortgage payment and 5% through private money? Am I saying that correctly? 

Does anyone here do commercial property investing? Came across the Matt Onofrio video interview on the Bigger Pockets podcast and it intrigued me and definitely changed my learning path with investing! Was hoping to connect with a few people? Newbie BTW!