All Forum Posts by: Cesar Sabio

@Craig C. let's definitely connect, shoot me a PM 

Isaac, Thank you for the advice I appreciate it

I am sorry I am confused your report says a purchase price of $135,000 and a total project cost of $138,000. That's what I am basing my answer off of. Your ARV is $240k.

Hi Alisha,

After looking at your report it looks to me your being too aggressive on some of your expense lines. I agree that for sure we need to take every expense into account when dealing with investment properties, but I am just curious where are you getting your metrics from. Is this your 1st property? If so, why not manage the 1st one one your own that would bring +$267.50 back to you or if you want to build the discipline for future properties leave the PM expense and pocket that money towards your cashflow and at least your already practicing deducting for future PM needs.

Also, if you are taking a VA loan you don't pay PMI. I know this as I have used the VA loan and PMI is not needed, one of the wonderful things about the VA loan. With that being said thats another +$150.00. You could probably also play around with your other expense lines to create yourself some more cashflow. I understand your trying to be conservative and it is better to deduct after purchase than it is to increase expenses after purchase. I'm just speaking from where I stand, I don't know your market enough to determine everything, but from a first glance that's what I see.

I do see though you will be generating some good rental income from this property, and your almost falling in line with the 2% rule which is right where you want to be. Best of luck to you!!

Cesar

Hi BP,

I'm looking for advice from the community on my particular situation. I feel like I am ready to take the step and get into this ,but something is holding me back, and it's not the fear of failure or not knowing what to do when I'm in it. It's honestly fear of rejection. Let me explain my position. I have a great career, I have stability from a job perspective as much as a job can create stability. I have a 6 figure salary, I have liquid capital that if need be I can put up for a down payment, rehab, or even a straight cash purchase, but my fear is my credit. I have a rebuilt my credit from the ground up due to decisions that very young put me in a bad position. 10 years later and I am finally in a place where I feel its decent(690) but not sure if the banks would still look at me like a risk. It's almost like Post Traumatic stress disorder with my experience with credit and financing. This mentality has lead me to look for partnerships to bring in as credit partners splitting my potential profits in order to help me take this step.

I would really like to get 20% down conventional or hard money loan. I would like to go after MF's and do the BRRRR strategy. During this period I have spent time reading, analyzing, working towards my goal by educating myself, so when that moment came I could deliver.

I would really like some advice, maybe some next step actions, and if you've ever been in my position tell me what you did.

Thank you to all in advance

-Cesar

Gentleman,

I'd like to chime on this thread and if I may before I move forward on who I am I'd like to mention this is my very first post on BP. 

in fact, I am also new to the real estate investment journey. I like to consider myself a go getter, very dedicated to whatever my focus is at that junction in my life and at this current point it's getting my REI venture off the ground. I like to think I built this attribute of discipline, hard work, and just overall intensity while serving in the Marine Corps which has generated huge success for me in my professional career after serving.

I am from Jersey City, NJ but now currently live in Easton, PA.

My Unfathomable RE goal is to first and foremost build a successful RE portfolio of rental property that will generate more than enough cashflow and net worth to give me financial freedom from a job. Furthermore, I want to be a leader in my space and be that person that can help others reach their goals. 

What drives me? Coming from the bottom, not having a way, and working hard to get where I am today. My family, and making sure that if I am not here tomorrow they will be more than taken care of through what I've created for them. And passion, finding love in doing what I do, trying not to be average or just another person in whatever space I am in ,but being a leader in it.

I love watching basketball, football, boxing,MMA. I love traveling and being able to see the world and experience different cultures. I enjoy having substantial conversations with people that I feel I can feed off of and learn and listen to what they do and apply it to my life, seek advice, give advice, and just grow. 

My Situation: I am currently looking to land my first deal. I've been reading and analyzing deal after deal just for the purpose of practice and preparation. I feel like I'm stuck on my next move. Should I invest my own money? Or Should I go after a loan? Should I invest in NJ, PA, or even NY where one of my colleagues has expressed to me some potential? I feel like I have all the tools ready to do it. I have the credit, I have the liquid capital, I have knowledge where I am conformable enough to understand make an educated decision. I just don't know which way to go!!

Any advice would be great and appreciated on how you made your first move!!

Cesar