All Forum Posts by: Norberto Villanueva

@Ed C. - there are a few portfolio lenders in town, some of which will lend based on cash flow, a tough nut to crack in "conventional" circles. You have my contact info, feel free to reach out.

@Kevin Tornes - thanks for responding. As for words of wisdom, if local conditions don't make it viable to start in your backyard, make sure to have contractors, licensed brokers, inspectors...all working on your behalf in whatever market you choose. And do your due diligence! Many turnkey operators tout strong rental returns, but will fail to illustrate the economic (employment, migration, infrastructure development, etc) projections necessary to make buy and hold viable in the long term. For all the importance of cash flow, it's only one part of the trifecta for building long term wealth that includes future appreciation and principal reduction. 

All the best!

Thanks for posting, Kevin. What do you see for yourself? Wholesaler, flipper or follow footsteps in the buy and hold segment?

Thanks Canneton. It was a pleasure to work with you and I hope to do so again in the near future!

Thanks Trevor! Great to be in great company!

Thanks Ryan! I hope you're well. Let's talk about a source for 95% ARV fix and flip funding. It ain't cheap, but worth its weight in gold when passing on a deal is not an option!

@Brent Bowers - I appreciate your endorsement and wholeheartedly agree with figuring what others got in the area to make yours the best or at least as good. 

@Kalin Wilson - After implementing an average leased price per sq ft calculation in our model, I must caution against putting too much faith in the number, as it tended to be either way too high or low. In fact, I completely removed it from the model, leaning towards the former. Furthermore, be careful to look at more than just beds and baths for comps but also to limit consideration to those within a 20% range in square footage for comparison. So for that 1,000 square foot example Brent used, in a perfect world I'd have at least three comps that are between 800 - 1,200 square feet.

All said, the truth is the rental market is so strong one could almost make their own top end. As a case in point, I projected $1,150 a month on a 970 sq ft, 3 bed, 1 ba rancher we acquired for an investor client in October 2016. However, after seeing comps in the $900 - $1,100 range a few weeks before close, I had some concerns we wouldn't get it. Yet, after replacing carpets, a fresh paint job and more interest than we could handle, got $1,200 a month within two weeks, a few days after Christmas. 

All the best!

@Kalin Wilson - Thanks for posting. Seems you've got bases, at least the free ones covered. Problem is, they show more the ask, not leased prices that are on the MLS. Get a REALTOR on your team. Teamwork makes the dream work. :)

Thanks, @Bryan Mitchell. I appreciate your endorsement.

@Jeffrey Hayes - Thanks for asking. Unfortunately, I don't.