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All Forum Posts by: Justin Fernandez

Justin Fernandez has started 17 posts and replied 217 times.

At a way to make it happen! Definitely looking forward to seeing your success story here!

Post: 10 Unit Multifamily in Atlanta (Apartment)

Justin FernandezPosted
  • Investor
  • Watertown, NY
  • Posts 225
  • Votes 88

Open House is tomorrow at 12pm.  Please call or text first.  Send proof of funds with full name to [email protected] and I will send you the address.

Post: 10 Unit Multifamily in Atlanta (Apartment)

Justin FernandezPosted
  • Investor
  • Watertown, NY
  • Posts 225
  • Votes 88

@Kyle Wells

@lain stewart

I will get you something by tonight.  If you have someone you want to go look at it, I will have an open house starting at 12 on saturday. I know it's labor day weekend, but someone has to work :)

Post: Brand new to RE investing and looking for Analyzing tips

Justin FernandezPosted
  • Investor
  • Watertown, NY
  • Posts 225
  • Votes 88

Key details to provide

How many units?

What are the rents?

How many are rented?

What's the condition/repair?

How are you financing? 

How did you find it?

What's your exit?

Also a book that ties everything together for small multis (4 or less units) is called "Investing in duplexes,triplexes and quadplexes" by Larry B Loftis. Most of the info is still relevant, but the financing portion isn't anymore. 

He drives many good points and gives enough examples for you to do on your own. 

Post: Scared of Your Own Success

Justin FernandezPosted
  • Investor
  • Watertown, NY
  • Posts 225
  • Votes 88

If you let fear guide you, you will lead a fearful life. If the numbers work, then they work. Don't get stuck in analysis paralysis. 

I wanted to JV a 10unit, but didn't have the capital that all those that considered doing it wanted me to have more skin in the game. But with poor credit, no assets worth flipping and limited income I am working up to it. I'm wholesaling the deal now, but I'm going to continue putting in work to get there and helping the person go through the process because I want her to be successful. And if she's successful, then I'm successful and I will learn how to rehab and rent a 10unit. So the next time I can bring more to the table.

I guess when I get there, I'll let you know how I feel. 

But back to your question, every time I train a new soldier, teach someone about real estate, and show someone how to analyze large volumes of data(I'm an analyst by trade) then I think what if I didn't do that and just leave it to someone else. Then I think, that if I didn't do that then someone else will. They will step up to the plate, because you couldn't. 

What if sets in, that's the worst feeling I've ever felt. I would rather regret than think about what if. But that's me. 

I hope this helps in some way. If not then, I've told you my feelings for nothing! ><

Post: 10 Unit Multifamily in Atlanta (Apartment)

Justin FernandezPosted
  • Investor
  • Watertown, NY
  • Posts 225
  • Votes 88

Hey BP! I have a screaming deal for you!

10 Unit Multifamily Apartment in Southwest Atlanta.  PM for more details, will be available this weekend for an Open House so please feel free to bring your experts!

The unit needs to finish being rehabbed. Will send pictures after this weekend.

Mix: 6 2bed/1bath and 4 1bed/1bath

Purchase 100K

Rehab 120K

Using Section 8 Rents
NOI 52K (expenses calculated at 55%)

ARV @ 12 Cap is 430K.

Using regular rents for area (30314)

It's 39.5 NOI (expenses calculated at 55%)

ARV @ 12 Cap is 330K.

Contact me at 678-427-2814. Leave a voicemail between 9-5. If you have general questions please post here so others don't have to ask as well.

This is priced to sell fast, so act fast! This is also not for first time investors.  I do not want this to be your first project. Unless you have an experienced mentor/partner/gc/someone other than you.  I want you to be successful, so this is a warning, but I do not discriminate against money.

Post: Owner-occupied Triplex Analysis

Justin FernandezPosted
  • Investor
  • Watertown, NY
  • Posts 225
  • Votes 88

Get a letter from a pm company stating their experience, and how they manage.  Have them put it on a letterhead and submit it to the bank.  See if the ends the issue.

Post: VA loan waiver exceptions

Justin FernandezPosted
  • Investor
  • Watertown, NY
  • Posts 225
  • Votes 88
There was a guy who gave notice to his tenants that they had 60 days to move after he purchased using the VA loan. So not sure how it would've worked out. I'll remind myself to look for the post and ask him to chime in here.

Post: Fortune Builders Refund Policy

Justin FernandezPosted
  • Investor
  • Watertown, NY
  • Posts 225
  • Votes 88

I would also take @Brian Gibbonson his offer. It may not be what you know, but it's always a good tool to have. At least that way, you can make your money back a different way. But don't give FB credit for it or do, because of your situation, Brian was able to learn and see if he could help. Just penny thoughts. 

Post: Fortune Builders Refund Policy

Justin FernandezPosted
  • Investor
  • Watertown, NY
  • Posts 225
  • Votes 88

Interesting to see. I'm glad it worked out for you. It's good to see that your money is getting you somewhere than nowhere. I'll admit I only read his book. They seem to target newer investors who want the cart before the horse. But at the end of the day, real estate is about 5th grade math. If you add emotion(which they prey on) you've been gotten before you even knew it.