All Forum Posts by: Angel Castillo

Buy a property that has potential for value add on ... put 3.5 %down say you spend 40k on closing and down payment then use remaining 50k to put up some walls... add a restroom and a gas range(won’t be 50k) ... now you have a separate unit ... in LA you’ll rent for at least 1.8k/mo ... you can live there and cut your mortgage expense by 1.8k or rent it all out and cash flow per month.

My goal is 400/mo cash flow and cash on cash return of 12% .. total cash outlay 40k buy and hold sfh 

How would you approach? 

YouTube !!!!!

Thank you 🙏 

Every day same routine , get up before sunrise ... long commute  ... labor for 8 hrs ... come home and get ready for the next day ... some days are harder than others . It takes discipline to keep on keeping on. Every paycheck I get closer and closer to my goal ! That first investment property! Looking back I’ve come a long way... my vision gets clearer as I accomplish my goals one at a time .. day by day check by check .. getting closer to the main goal ... my side business is starting to grow .. I’m building relationships and gaining valuable experience! All this gives me motivation and pushes me to keep giving my best effort ! I’m so thankful for the opportunities that come my way ! And god knows I don’t let em pass me by! 

If you had 40k in California and long term goal was buy and hold rental property! How would you approach!? FHA loan and house hack ?! What are other strategies! I met an investor that buys rentals that lose him money monthly at first then he adds separate unit to property that then bring him more income and cash flow after additions.

Thank you for commenting! And thank you for info ! I will add flood insurance to numbers when I analyze! Thank you so much ! 

Hey y’all ! Im analyzing deals in Harris county specifically Spring Tx ...  Don’t have lender yet! Looking for a sfh worth 150,000 and I plan to rent for 1500 ( Zillow rent estimates) ! 
need advice , about lending, minimizing expenses , strategy ,entity structure 

-what are avg property tax % in Harris county( Zillow says 2.3%) - is $100/mo for insurance conservative? I know it rains a lot in Harris county and hurricanes here and there ! Is flood insurance typical ? If so am I looking more at $200/mo for insurance 
- I want to own in llc but easier to get loan under my name ( conventional loan ) I read about buying under my name then transferring to trust and have llc as beneficiary! ( what steps would I take to do that) 

- main goal is cash-on cash-return along with cash flow!In order to reach my goal of 12% cash on cash return I need $400/mo cash flow. Total cash outlay $40k .. how can I get monthly operating cost to less than 1,000 (mortgage, insurance, taxes, property management, vacancy, capex, other,) 

- how would you negotiate deal in order to make money at the purchase! ( equity) I plan to offer at least 10% below value . I understand this may be difficult but I am determined! 
- I live in California so this will be a long distance rental investment. 
plan to talk to mynd property management(haven’t reached out yet)saw them on the BP YouTube channel 

- plan is to have team putting in offers by summer 2021 , in meantime I need to build team of course !!!!!  And I’m also beefing up my personal emergency fund in meantime in order to mitigate risks ( worst case scenario I personally have to fund) 

Give me advice y’all 

@Brandon Turner