All Forum Posts by: Andrew Garcia

Hi @Ashley Johnson, 100,000%! 

Just kidding, a good ROI is typically anything with double digits. Those are getting tougher and tougher these days.

Cap rate is a measure used for multifamily. Are you looking at those types of deals?

Buy and hold investors typically put away 5-10% for cap ex and maintenance.

Hope this helps! Let me know if I can be of any assistance.

Hi @Priya Srinivasan, there are a lot of legalities to lending.

Talk to a local attorney or partner with a lender that is experienced in the arena to handle the origination, processing, underwriting, and closing the loan.

Hope this helps! Let me know if I can be of any assistance.

Hi @Kayla Caruso, house hacking is a great way to get started in real estate.

There are a lot of great agents and investors in Cleveland. If you want any recommendations, please let me know.

Hi @Michael Mastantuono, finding an agent on the buy-side is almost always worth it.

Some very experienced investors use the listing agent with dual representation to win the deal but if you do not have a ton of experience, use a local broker.

Hope this helps! Let me know if I can be of any assistance.

Hi @Austin Cox, below are my answers:

1. The VA loan has a one-time restoration of entitlement. That means for your first property, you can refinance into a different loan product and have your full entitlement restored. However, for future properties, you will have to sell to get the entitlement back. That is oversimplified but it is a brief explanation.

2. Typically, when investors scale, they start going into different loan products. A typical progression looks like this: FHA/VA house hack > conventional investment properties > DSCR > portfolio/blanket loans. This is not right for everyone but that is the typical progression.

Hope this helps! Let me know if you have any questions.

Hi @Davis Sessums, that sounds like a great plan!

Which market are you looking in? I might be able to get you connected to a local expert.

Hi @Greg Carroll, the biggest issue I see with this strategy is that you need people to buy the flips or rent the newly renovated properties.

Sure, some people can afford that but if you were to do it to the whole town, you would have listings sit for months.

That would likely be your biggest obstacle.

It would be great if you could pull it off, however.

Hope this helps! Let me know if I can be of any assistance.

Hi @Maya Grevatt, this is a great question that does not get talked about enough. 

There are a lot of nonprofits and local governments that help with this cause. I am not super familiar with the ones in New England but I know they are out there.

You can look into the Rapid Re-Housing program. There is also a great private REI solution by David Grabiner that you can look into.

Hope this helps! Let me know if I can be of any assistance.

Hi @Sean Robinson, my answers are below.

1. The monthly splits are typically based on the profit after paying all monthly expenses. You and the partner determine the split.

2. If by equity, you mean the down payment that they gave you, then the same split would be applied until you buy them out or sell the property.

3. Typically, you will close in an LLC with the ownership being divided between you and the person that put up the down payment.

Ultimately, it all varies from deal to deal and partner to partner so you will have to work out terms for each.

Hope this helps! Let me know if I can be of any assistance.

Hi @Mimi Halloway, Cumberland and Baltimore are both good for cashflow but they will not have the highest appreciation.

If your goal is income, they can certainly be good markets, especially if you have some sort of advantage (such as living there).

Hope this helps! Let me know if I can be of any assistance.