All Forum Posts by: Andrew Gomez

this is being sold as a new construction from the seller who is the builder, 

i didn’t think of that i haven’t ran those numbers yet thinking it would maybe save me some additional to put it into equity versus having a lower interest rate hmm I’ll have to run the numbers 

Hey guys,
Had a big update on my fourplex that I previously posted and got my official numbers. I just want to see if anyone else would go after this deal or if im just being played by everyone else
I preface this by my main goal being to build equity as quickly as possible and have something that is generally low maintenance in comparison to an older property 
1) Brand New build  5000 Sq ft Quad - Each quad is a 3/2 with garage 2 story side by side unit 
2) Total Price $859,000  - (Subject appraisal only so far) 

3) Interest Rate Lock at 5% FHA (Bought down rate at $34,000) - - Total Closing at $79000
4) Monthly Payment $4,454 + $1817 (PMI / Insurance) Total - $6277

5) Surrounded by C Class  in Windcrest Texas 
6) total Projected income 3 Units - $1656 ea (Subtracted Property Management 8%) //  $1300 I am making with roommates in my own unit confirmed 
Totaling $6,268

7) Is there anything else I should account for here? Any input on the deal? Is there anything i should shy away from? 
26 years old - final kinda cold feet analysis 

Thanks for the input if any from investors!

If you can trust your realtor has an investment mindset, definitely see all the Cons and whether they are in your wheelhouse to solve. I would say analysis paralysis hits but if your numbers work then its a decision time for you to either dive in and treat that investment as your child until it works OR keep moving until you are more confident in another investment.

 This is excellent advice, i know that at this point i am prepared to make an investment at 25% of the property, doing this would make the numbers work but it does seem like there could be a lot more potential in another market or area of San Antonio. I feel that I am mostly concerned of the turning tides of the market going to a buyers favor which could allow me to find a better property in the area. 

I appreciate your input. 

Hello,

I am wondering if I have the correct mindset when it comes to this new build property in San Antonio Texas.

I am planning to buy my first investment property which is a Fourplex in Windcrest Texas just inside of San Antonio. The price of this property is about $860,000 reference is below.

I plan on Renting out all 4 units which will gross around the $6,000 mark.

In total my costs should range about $5500 and I may be able to raise the rent over time.

I am doing this passively as i own a different company which takes the span of all my time.

Would this be the correct mindset and is there anything i should watch out for when it comes to this multifamily deal? Can i have som advice as to what i should lookout for on my first multifamily deal?

Thank you,

Information on the property, 
5000  Sqft Fourplex 
4- 3 BR 2 BA units with Garages 
Priced at $860,000

I am putting 25% down as a first investment property. 

I plan on putting the full 25% down on this property which will be complete in May.

Hello, 

I am wondering if I have the correct mindset when it comes to this new build property in San Antonio Texas. 

I am planning to buy my first investment property which is a Fourplex in Windcrest Texas just inside of San antonio. The price of this property is about $860,000 reference is below. 
I plan on Renting out all 4 units which will gross around the $6,000 mark. 
In total my costs should range about $5500 and I may be able to raise the rent over time. 

I am doing this passively as i own a different company which takes the span of all my time. 

Would this be the correct mindset and is there anything i should watch out for when it comes to this multifamily deal? 

Thank you, 

https://www.redfin.com/TX/San-...

Good Afternoon! 

I am partnering in one of our first out-of-state investments on a new build in Fayetteville NC, I have tried calling a few trusts and have received ZERO communication so far. I am going to continue my google search but was wondering if anyone has a lender they have worked with before for NC investments? 

Property is an SFH new build

Thank you,

Hello!

I have been in the hunt for a commercial property over this past year but to no avail due to the niche property we are requiring. I own  trucking company in San Antonio and i am searching for a property in the San Antonio area with around 8 acres or more in flatland and possible a warehouse on site 

I have financing secured and really am just searching for the best deal possible which would allow me to have 3 other fleets as tenants as well, if you know of anyone whom could assist me please reach out as i have many questions on the subject and best way to purchase 

Hello BP 

I am a longtime listener and future investor. I would like to be a current one however i am unsure if i should wait or if i should invest now, 
Here is my situation 

I currently have a brand new duplex under contract brand new build which has been delayed to the end of the year for build completion and i planned on doing a traditional house hack. This Duplex has already appreciated by about $125k which looks to be a home run. 

I have been Pre Approved for this since last year so i have no issues financing and all is well. 
Here is where I am currently however, I have the buying power of about 800,000 and I currently am renting an apartment now. 
In this Seller's market, a simple 3 by 2 would be 300k inside of the San Antonio Area. 
I am thinking of buying a single family home and then once the duplex is ready I will live inside of the house hack. Thus creating a rental property once I move out. 

I know the Single Family would not meet any rules for cash flow until it becomes a traditional rental. However i also consider my 2.000$ Monthly payment to be an opportunity cost that would be taken away from my monthly expenses. 

I currently am in a great profitable situation with my current trucking business so this property would be a buy and hold. Would this make sense in the long term? Would i be biting off more than i can chew?

Thanks for any insight,