All Forum Posts by: Ceasar Rosas

@Ray King Sterling

Welcome to the wonderful world of real estate!! I think everyone should assess where are their skills. How can you benefit someone on a deal? Can you bring money to the table and fund a deal with an experienced investor or are you good at finding great deals and can be the one to bring the deal to the table? I have flipped, have a few buy and hold units, all with partners. I am currently coaching with a multifamily syndicator that I feel have a great way of teaching and wished I would have started with multifamily. Also what are your goals? Do you want to build passive income or have a more active role? Real Estate is very broad so definitely look into all aspects and see what is most fitting for you. DM me if you want more info on the coaching I'm apart of. 

@Alexander Ferrer

Never impossible, but extremely tough depending on what you are looking for. Assuming you are doing a 10% conventional loan on a multifamily, you wouldn't be able to go after fully distressed deals to force appreciation. What numbers are you looking for? The areas you mentioned do not usually have many multifamily inventory. Have you considered New Rochelle or even the Bronx? 

@Alissa Hyder

is the current furnace oil or gas? Do you have gas on the property?

@Alissa Hyder

Quick suggestion if it makes sense, can you get a quote to potentially separate units with their own boilers? For a smaller compact boiler, should be anywhere from $5k to $8k, and while you may pay more initially, you will completely pass those heating costs to your tenants saving you tons of money in the long run.

On another note: How do you like this market? I am looking to get into larger multifamily and Cincinatti is on my short list to start focusing on. 

My condolences on the passing of your grandmother....... 7 years is way too much. I am assuming there is no lease in place. Newer leases will have clauses in them that determine what you are allowed to do with tenants' belongings. Also is it clear that these things are trash? Take pics of conditions of these items. If it is proven that they are trash then you should be fine. Usually what we would do is send a notice to the tenant letting them know that they have 30 days to pick up whatever they left behind. Then we trash it. Haven't had an issue yet. We have done this in investment properties as well as properties we sell for others. Keep in mind, I am not an attorney and if you need one, I can recommend one to you. If you have any questions feel free to reach out. Always here to help!

Hey Everyone,

March 30th at 7pm, we will be discussing Finding Deals in today's market! I've had multiple people ask me about this. While we are implementing our own new marketing processes for deals, we will share what has worked in the past as well as what we are looking to do in the future. This will be an open discussion. We will mastermind on this, talk about what has worked and what hasn't, so bring your questions and suggestions. I put these meetups together to help people come out of their comfort zone, network with like minded people, find partners, find deals, etc... let's grow this meetup and mastermind that is based out of the Bronx, NY. This meetup is focused on REAL ESTATE, please leave crypto, multilevel marketing, or anything else non real estate related out of these meetups. We are open to Realtors, attorneys, contractors, investors, newbies, etc... Reach out if you have any questions.

Come network with us. See you soon!

@Billy Daniel

I myself joined Apartment Addicts with Ashley Wilson and J. Scott. It has all the tools necessary to get into the syndication business. They do a zoom once a week. There is a course that goes through the whole process and there is a Slack channel that allows you access to them with any questions you may need. It is also the most affordable that I've found. Reach out if you want to know more. 

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $123,500
Cash invested: $90,000
Sale price: $275,000

Single family that we bought as a 3 bedroom/1 bathroom and turned into a 4 bedroom/2 bathroom.

What made you interested in investing in this type of deal?

We like flips. This one had potential to add a 4th bedroom and 2nd bathroom and we wanted to test the area.

How did you find this deal and how did you negotiate it?

Hubzu.com. An online auction.

How did you finance this deal?

Hard money loan

How did you add value to the deal?

We redid all of the interior and added a bathroom and laundry room. We also finished the attic off to add a bedroom.

What was the outcome?

We sold it for almost asking.

Lessons learned? Challenges?

Contractors. Our main contractor is reliable, but his team was not. He fired his whole crew in the middle of this house which caused us delays. He finished it with one other person, but was a lot of work. My take - have a few contractors lined up.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes. Joe Rizza at Vylla Homes.

@Kth Bee

Look up to 2 hrs away if your market is to tough to scale in. Determine if you are looking for more cashflow or appreciation. Ex. I dropped a pin where I live in the Bronx, NY, and went 2 hrs north, west, and south. My options were, Hartford County, CT, Poconos, PA, and Philadelphia, PA for best cashflow. I wanted cashflowing multifamily so I decided to focus on Hartford, Bristol, Manchester, and those surrounding areas in Connecticut. 

@Aneil Champagine

Everything @Charles Carillo mentioned above is accurate. In addition, look at bridge loan lenders and hard money lenders, especially if you are doing value-add. They can do sometimes 10 to 15% on these type of deals as long as you are under 70LTV.