All Forum Posts by: Camilo Rey

Hi @Andrew Bannerman,

First of all, welcome to Houston and BP. 

It all depends on what your strategy is and what you have towards the future, but according to what you said in the first paragraph, it seems you are more of a Single-Family person, the first thing I would focus on would be the location. You can start with a house that was flooded since there would be a lot of profit when you make the repairs yourself.

Hi, @Adam Eckerman 

I think we've all been through this situation at some time in our lives. In my opinion, you should do what you like, real estate is the vehicle for a better financial life. You can work on what you like and at the same time make investments in real estate.

Hi Anthony Rios, thank you for your service. In my opinion, you should share your history with friends and family. Probably they want to invest with you and the interest rate will be lower than other places.

Hi @Jeff Congratulations for your deal, In my case I am sending direct mail, have you had experience doing this?

 @Dennis L Lewis Jr:

Hard lenders work as long as you do things fast and pay the debt.

They know the business, so they will not have any problem making the loan if it is a good deal.

I recommend the following link where they explain a little more about this topic.

 https://www.biggerpockets.com/renewsblog/2013/03/1...

Hi @Orita Issartel

I would buy apartments 
(Multifamiliar)

Tks,

Camilo Rey

Hi @Dennis L Lewis Jr

Congratulations for starting your real estate business, what I suggest is that you do not focus on looking for a deal worth $ 15k. I would look for a good property to do a flip, then I would look for a hard money lender and I would use the $ 15k as a down payment. It would be very difficult that with only $ 15k you do the flip and pay for the remodeling.

Good Luck

Camilo Rey

Hi @Jerryll Noorden

I just think that when people call you crazy, it means you're on the right path because you're in waters where not everyone is fishing.

Good luck.

Camilo Rey

Hi @Adam Sechrist 

What I would do is offer the initial value of the property, the purpose of obtaining the deal. But put in the contract that the purchase depends on the approval of the loan. Then return to the seller and renegotiate the price, if you pay in Cash.

Tks @Jimmy Murray . Actually, I forgot to include all the other expenses.

This affects my NOI and makes a huge reduction. please see below a list of the cost.

Next time I will include all the cost into the spreadsheet. Keep Learning. :) :)