All Forum Posts by: Carmelo S. Ramos Jr

Good afternoon,

I am reaching out with the intention of seeking recommendations from the knowledgeable members of this community. Specifically, I am interested in inquiring about any proficient bird dogs who have been engaged in the asset classes outlined below. Your insights and referrals in this regard would be highly appreciated.

1. Shopping Centers:

Buyer 1: I am assisting a discerning buyer with stringent acquisition criteria. This buyer possesses the financial capacity to secure fifty percent of the acquisition cost in cash, with the remaining portion to be financed. Targeting the Los Angeles and Orange County markets exclusively, the buyer's parameters include shopping centers priced within the $10-15 million range. Paramount considerations consist of a 6% (Cap Rate), full occupancy at 100%, and a minimum of 100 parking spaces.

Buyer 2: My second client is an established investor of shopping centers across diverse geographical regions. As part of an ongoing effort to enhance their portfolio, they are actively exploring opportunities in this sector. The are only looking for off-market prospects.

Your valuable insights or recommendations regarding bird dogs who possess expertise in these specific asset classes and parameters would be greatly valued. Thank you for your time and assistance.

My father just informed me of a property that was foreclosed on and is now owned by the bank. He knew the owners of the property so thats how he knows about this deal even before it is listed.

$43,500 is the cost but is negotiable. I put in an offer of $30k hoping we agree on $35k

The house is beautiful and strong. The house is made of pure cement and mostly needs cosmetic improvements, appliances and landscaping. The house even has a second floor that is open space but can be converted into an apartment to then take it from a 1 to a 2 family home.

Do any of you know of reputable Homestyle Loan Lenders that service Puerto Rico? I would greatly appreciate any and all information that you can provide I would greatly appreciate it.

Thank You,

Carmelo

@Roberto Torres, I sincerely apologize for my late response due to my travel schedule I wanted to make sure I responded thoroughly versus rushed and short. 

Here is the update, I went to check out the land and it was a beautiful spot with a nice view and a really large space. However, after having my family members who are in constructions do a deep evaluation of the property they informed me that only a small portion of the land could be used to build on. However, they did say the entire land can be built on BUT it will be very expensive to the point where it's not worth it. 

The location where that piece of land was Naranjito. However, I am open to purchasing land/property anywhere on the island as long as the price is right and the ROI potential is significant.

What I can tell you about buying land in Puerto Rico is that usually the value increases, in fact, one of the strategies that my uncle uses is simply purchasing land and holding on to it until the value increases a nice percentage before he throws it on the market. The downside to this strategy is that these plots of land are empty which produce no cash flow but he owns other properties with single-family homes and apartment buildings which help to offset the fact that the empty lots are not producing income until it eventually sells. 

I am really open to either new construction to rent or purchasing already established property and then rehabbing them to extract more value from them. I am a newbie in the whole buying land piece but luckily I have many people including family members who are not. 

How has the property in San Juan been for you? Please share :-) 

@Mike Hurney absolutely, I will make sure of it! thank you. 

@Richard Sherman I appreciate the encouragement and guidance! Thank you so much. 

@Richard Sherman excellent points. I could not agree more. Tomorrow I am going to visit the land again but this time I am going with two family members who own construction companies. They will help to provide a better understanding of what are my options with the land. The beautiful thing about this stretch of land is it has mix use so it can be strictly residential or agg or both. Which presents a great opportunity but i just need to decide which direction i want to go in. 

@Richard Sherman I am sure I can. Right now I am trying to decide if I do lock in this deal, whether or not I want to keep one acre and sell the other two. 

The meet up option is a great idea though! I do not know potential buyers yet.

@Richard Sherman the value of the land is $150,000 which is $50k each acre. 

Hello BP Family, 

I have come across a phenomenal opportunity here on the beautiful island of Puerto Rico. 

3 Acres at $35,000 BUT since the seller is very VERY motivated, I managed to get the seller down to 20k with payments. 

However I also threw around the idea of 10-15k if I could pay it in cash and his face lit up. 

Which leads me to ask all of you this question: 

Where could I go to get this money? I would love to hear what ideas or suggestions any of you have for me. 

Thank you, 

Carmelo 

Hi BP Family! 

I was wondering if anyone could point in the directions of book(s), website(s) (beside just BP) or other resources where I can learn the art of structuring deals.

I really want to learn two sides to structuring deals:

1) Investors: How to learn the various ways to structure real estate days that will capture a potential investors interest. 

2) Purchasing: How to learn the various ways to structure real estate deals that i am interested in purchasing but learning how to put it together so its not just a win for myself and my investors but also the seller. 

I would greatly appreciate any and all guidance you share. 

Thank You, 

Carmelo