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All Forum Posts by: Carlos Cartaya

Carlos Cartaya has started 4 posts and replied 11 times.

Post: REJECTED!!!

Carlos CartayaPosted
  • tampa, fl
  • Posts 11
  • Votes 2

very good point, Jacqueline. I am philosophically opposed to the 30 year loan, as I see it as a rip off. Practically speaking, however, I see it as a tool that can be used as you describe.

In the end, if I can't at least break even with a 15 year loan, I think it's probably not a good investment, and I should just steer clear. 

Post: REJECTED!!!

Carlos CartayaPosted
  • tampa, fl
  • Posts 11
  • Votes 2

Thank you all for the info and encouragement.

Aaron- how do I find a wholesaler in my area?

Eric- I'm looking in the Gibsonton/Riverview area (about 20-30 min from Tampa)

Tristan- I have no idea about Seminole heights. I drive through there maybe once or twice a week and wonder how they ever got that area trendy. My brother in law bought a house there with some friends at the peak in '06…still trying to stage a comeback.

For my part, I'm going to be patient and keep looking (especially off MLS) and wait for the right opportunity and prepare to strike when the iron is hot.

Thanks again, everyone…What a great site BP is!!!

Carlos

Post: REJECTED!!!

Carlos CartayaPosted
  • tampa, fl
  • Posts 11
  • Votes 2

Hi all,

Just went to look at my first investment property and had a rude awakening.

Everyone talks about getting houses below market value- my realtor informed me that houses in my county are getting 96-99% of asking price. Strike one. 

Based on rents in my area, houses like the one I saw are fetching around $1500/mo. 

On a $130k loan (after 20% down), mortgage payment, insurance, taxes, property management, etc, I'd have to pay about $200/mo additional on a 15yr mtge, or break even on a 30yr. strike two.

I need some help or strike three is coming, and I'll be out before I even took a swing :(

Carlos Carta

Post: property managers

Carlos CartayaPosted
  • tampa, fl
  • Posts 11
  • Votes 2

THANK YOU for the advice

CC

Post: LLC or INC

Carlos CartayaPosted
  • tampa, fl
  • Posts 11
  • Votes 2

mortgage- I have about 40k to play with

Post: LLC or INC

Carlos CartayaPosted
  • tampa, fl
  • Posts 11
  • Votes 2

Now looking for my first property. I'm thinking single family homes- maybe one a year to buy and hold/ rent out.

Thanks

Post: property managers

Carlos CartayaPosted
  • tampa, fl
  • Posts 11
  • Votes 2

Hi all- 

just starting out…where/how do I find a good property manager in my  

area? (Tampa Bay).

Also, what should I specifically looking for? what do I need to avoid? 

what do I need to ask?

thanks!

Carlos Cartaya

Post: LLC or INC

Carlos CartayaPosted
  • tampa, fl
  • Posts 11
  • Votes 2

just starting : should i start an llc or an inc?

Post: Hi everyone!

Carlos CartayaPosted
  • tampa, fl
  • Posts 11
  • Votes 2

Thanks, Michael (Phillips)- what I meant was, I don't need the cash. I'm planning on keeping all cash flow in a separate account with hopes of using it for another property in the future. 

CC

Post: Hi everyone!

Carlos CartayaPosted
  • tampa, fl
  • Posts 11
  • Votes 2

thank you all.

Michael- no, have not read beginner's guide…yet.

Adrian- no, I have my own primary residence. I'm looking for an investment with some play money…with hopes it might turn into something serious

Carlos