All Forum Posts by: Cristian Aviles-Morales

@Spencer Pillera Welcome to the city beautiful! Hope to see you at the local REIA meet ups! I am also starting off looking at BRRR strategies with possible flips if I can find a good contractor I can network with who can provide accurate estimates! Day by day :)

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@Thomas Franklin wow what a great post! No one ever talks about that when praising house hacking! Now ain't that something.

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Originally posted by @Anthony D.:

@Cristian Aviles-Morales Its been a year indeed but I have not started wholesaling yet but still on my list. Instead, I became a realtor to truly learn from that side of the fence and I've learned a lot so far after doing a few deals while holding down a full time job. Not sure where you get that notion of Lakeland crime is b-a-d ....... all major cities has its share of B.A.D areas and lakeland is no different, but lakeland in my opinion is wonderful and growing strong. I really need to get this wholesaling thing off the ground Though, but I'm just too busy

Oh no kidding! Congrats on getting your license. I am also aiming to become a sales associate though only as a part time gig to be exposed more to the world of RE.

That's good to hear about Lakeland! Will definitely take another look at possible deals from there.

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@Jehoha Lewis You dont know what drugs he may have taken. For all you know he could have been high off b12. But I digress because the point is not that he took drugs but that he accomplished an amazing feat and DESERVES recognition and relaxation @David Zheng Can you share more on the bumps in the road? Was it bad tenants or something else? Also for newbies, can you explain how the deal was structured a bit more with your private money? I'm interested to know what FFFF got out of the deal when investing 10,000 into you if anything at all?

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Originally posted by @Jason Luongo:

I currently own one property in Jacksonville. It provides great returns. Right now im closing on a duplex in SW Florida, Charlotte County. As a newbie (like me), I would recommend staying away from the larger markets. I live in Palm Beach County, but I would never dream of investing here. Anything I can afford, is a WAR ZONE.

Some areas I would check out are Jacksonville (specifically North Jax) and the west coast of Florida (Tampa, Port Charlotte, Fort Meyers etc.) Heres a few data points I like to research before selecting an area to invest in.

Less than 15% poverty
Higher than national average population growth
Low crime area
Not in a flood zone

Best of Luck! Feel free to contact me if you have any more questions.

You know, I feel the same way. I live in South Orlando and I can see that what I can afford now, with my mortgage and my paycheck income, is a place like Poinciana which they keep trying to "bring up" but you can't bring up a city with constant violent crime and schools with "1 of 10" rating and students reviewing that they have active gang members as classmates.

Now that place is a no-go for me.

But out of curiosity, has anyone been unlucky or possibly lucky? to have an investment their?

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Originally posted by @Blair Poelman:

I have a Broker's license and I've done several wholesale deals (however I don't consider myself a "wholesaler").

If the only reason you want a license is to have access to the MLS you will be going through a lot of work and effort, and spending a lot more money than you really need to. It would be a lot easier to just get a couple different agents that send you whatever you are looking for.

There are several pros to having a license, but when it comes to wholesaling, there are a substantial amount of liabilities that you take on when you have a license and you do a wholesale transaction. So if you want to go full-speed wholesaling, having a license is likely to put a couple extra steps into your process.

If you're going to be successful in Real Estate investing, you will be successful with or without a license - wholesaling or otherwise.

Just curious, can you list the pros of having your license as a sales associate, not a broker? I'm expecting to test for my FL's license exam in Spring and been wondering about the benefits and if I should really be pursuing this.

I have a job that pays well and I semi-enjoy so I don't believe I'll be jumping ship to work for a broker but who knows. But if I don't, I won't have an active license. (Still learning..) But I think that disqualifies me from collecting a % on any deals I may be apart of and acting as the agent in the deal, thus saving some costs?

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Orlando really is over heated and it is so disappointing as a newbie!

Want a great deal? Sounds like you're looking at Oak Ridge or OBT in the B.A.D. parts. Everything else that is desired is just mid 200's for the most part and even then everything is put on contract at the snap of a finger.

Yeesh. But just got to keep looking!

@Navid T. For rental properties, I'd desire to stick to locations around the theme parks for the flow of tenants year round. That, or I'd head out to the major airports like MCO.

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@Rick Pozos This thread is exactly what my heart wants, the whole BRRR process but I find myself in exactly the same position as OP which is $0 in the game. So seeing your comment grounds me back to reality as the "right" way to do it and while there is no right way, I think being overly cautious as a newbie is definitely the way to go atleast for me. Thank you!

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Originally posted by @Anthony D.:

Great amount of info here. I've been looking into it lately trying to learn the ins and outs of wholesaling, wondering if its illegal in FL too but it seems not . Its just a matter of how you conduct yourself and not leaving the Seller high & dry! I think if get into it seriously I would like to be in the position to buy what I couldn't assign and add to my portfolio but things don't always go as planned though.

I realize this is a year late but have you started wholesaling out in Lakeland? How is it out there? I've been scoping the neighborhood scouts data and things SEEM appealing but I have a gut feeling that crime over there is b-a-d.

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Originally posted by @Tristan Colborg:

@Cristian Aviles-Morales So all Helocs have a draw period and a repayment period. How long each of those are depends on the bank. Mine with Navy Federal for example has a 20 year draw period and 20 year repayment period. During the draw period you are paying 1% of whatever your balance is and it is lowering your principal and interest with each payment. At the and of your draw period the remaining balance gets amortized over the amortization period. So if you started with 80k during the draw period and had a remaining balance of 50k at the end, the 50k would be amortized over that period. So in my case the 50k would be over 20 year period, and the payments are based off that 20 year period not the 1% any more. Hopefully that makes sense.

Perfect! I have Navy Federal too so that's handy to know they offer this service!

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All Forum Posts by: Cristian Aviles-Morales

Cristian Aviles-Morales has started 3 posts and replied 87 times.

Post: Orlando Real Estate Investing

Post: Newby in the Miami area looking for a fourplex to house hack..

Post: Wholesaling, Legal or Illegal in Florida?

Post: My biggest deal ever... and it went bust. (sort of)

Post: Best location to invest in Florida

Post: Real estate license for wholesalers?

Post: How to invest 400k in rental properties in Orlando,FL

Post: Wholesaler Dilemma ? Assign contract, Hold, Repair,Flip, Brrrr?

Post: Wholesaling, Legal or Illegal in Florida?

Post: How do you pull out equity on your home after its appreciated?