All Forum Posts by: Carlos Gomez

I recently purchase a property and there are four month-month tenants with no leases in place. What is the best manner to approach this situation with the tenants to get them to sign leases? I would rather have the tenants agree to signing the lease than having to find others.

My idea was to allow the tenants two months or three to make a decision if they want to sign the lease or not, providing them with lease to review during the 2-3 month period (also planning on raising the rent slightly based on market rents being higher than their current monthly rate).

@Shawn K Hicks for sure man I see a lot of growth coming Gainesville. Always looking for good opportunities in the area, just haven't found anything since my last purchase that fits my criteria.   

@Jeffrey Edwards thanks man for taking the time to answer my post! Would you recommend to take a drive around the property with listened contractor to get a better understanding of what I am getting myself into; reasoning behind that is that some of the big cap expenses can be observed from the outside. Also, would you complete a preliminary title search before bidding on a property? 

Will definitely start pulling all the records of permits I can find as part of my due deligence. 

Hello BP community! My name is Carlos Gomez a 25 year old law student and investor from Florida. I currently own in a partnership two college rentals: one condo in Gainesville that we rent out per room, and a single family home in Tallahassee.  For our third purchase we decided to venture outside the college rental market into a quadplex in Pensacola. We are self managing everything by creating meaningful relationships with vendors in all the markets we enter. 

I look forward to becoming an active participant in this community, and would love to connect with like minded investors in Florida and other states. Would also love to connect with different vendors that are our part of this amazing community. Looking forward to getting to know you guys and gals!

I am not a seasoned investor but do have a couple deals under my belt. Currently own two rental properties and in the process of closing on a third. I recently got interested in acquiring properties through auction websites, mainly bank owned properties. My concern is that the due diligence process is severely limited. What would the bigger pockets community recommend as check list of essential things that have to be checked off before starting to place bids on a property? 

Appreciate any suggestions, would also love to connect with any other investors in Florida; which is were I am focusing my investments. 

@Brian Garrett  thank you for your reply! Will commercial/portfolio loans allow us  to get the loan under only the partner with the better credit/job?

I am currently purchasing a property with three partners. We are going to be all in at around 200k after repairs, with a 240-250k ARV. The issue that we have is only one of the partners has a stable job, with w2 income, to show the bank for the refinance. Is it possible to structure a loan, 30-year cash-out refinance, where the partner with the stable job is the only applicant, even though the property will be purchased under our LLC were we all our members.

Thank you in advance for the help!