All Forum Posts by: Daniel Vazquez

Hi Anthony, I live in Puerto Rico and I got to tell you that duplex properties down here are not quite the best investment unless you want it for personal use or buy for rent. Most people prefer a detached property with some land on it because they're easier to resell than a duplex one. The most common properties have lot sizes from 300sqmt to 600sqmt while duplex has less. You can get discounted REO deals from $50K to $100K with a potential ARV from 20% to 40% or more depending on many factors. I'll give you and example of my last investment where I paid $113K and put some $20k on it. Whenever I want, I can resell it for $170k to $190k.

Investment Info:

Single-family residence fix & flip investment.

My investments have been done in Puerto Rico. The drop down menu does not give me the option to select Puerto Rico and so I can't add detailed information of investment deals.

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

Just another way to make xtra cash.

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

Online auctions making offers 30% to 40% of listed price. After analyzing the last 3 sales within the area and doing interior & exterior inspection of asset, I can decide to go forward or cancel bid.

How did you finance this deal?

I usually buy cash. There's one or two hard money lenders at 8% rate I believe, but also there's mortgage financing available at 20% down for a conventional loan if you want to have a low payment. The last option I used it for a 3 units; 2 Bdrms/1 Bath each near the beach in an average neighborhood "not a tourist area" that total monthly rents are $2,000.00 with a low monthly payment of $530.00 with insurance and taxes included.

How did you add value to the deal?

Bought it at $70K market value is $125K

What was the outcome?

I think it was a pretty good deal.

Lessons learned? Challenges?

Positive.

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

I did everything myself, no agents.

Hello, I'm a Real Estate Broker who used to live in Atlanta GA but moved back to Puerto Rico 4 years ago. Since I moved back, I've done 2 flippings and 3 property purchases. The flipping market is very competitive many people are already into it. The average and conservative ROI per flipping is between $15K $35K however, if you put a lot of work in it then you can make $40K to $60 per flipping deal. I personally like the easy transactions and so I buy, clean, paint and resell for $30K avg profit. I'm not doing so much because I'm a Dakota, Franklin and HUD listing broker down here so I'm always doing tasks, BPO's, inspections, etc.

Yes. I just want to be involved in the real life. I've seeing tons of videos, read posts of do and don't but I just want to be on the field. I do have real estate license in Puerto Rico just moved here and trying to figure out things in this different world for me.

Thanks,

Looking to work with someone who needs help with anything related with property due diligences, supervision, inspection, pictures, subject ID's, this and that within the perimeter in Atlanta. The first 3 or 4 days you don't have to pay me a dime, nor lunch or transportation. Just see if I can be a valuable tool for you and if we can work together. 

David,

I really appreciate your words. I've not been as positive as I should  and that of course reflects on my performance. Due to I moved to Atlanta from Puerto Rico it has been hard to adjust but I'm pretty sure I can do this. Will post later when I make my first deal!

I really thank all of you for the positive comments, in no way whatsoever I  feel offended since after all I'm here to learn right? Do hope to get at least one deal though. 

David I listened to your BP podcast and you had so many different ways to do this which means that it'll be different scenarios every time there's a deal. In my case I live in a rental complex, don't know who my neighbors are, don't have friends here in GA so I guess I'm stock. I moved to GA 4 years ago and still don't know how the system works. I come from Puerto Rico where I know too many people and understand the market and I can buy a house there with a mask over my eyes but here I'm lost. Don't even know where to start.

I appreciate all your answers. Interested only to invest in Atlanta, GA  I've never seen or heard about these deals here. Am I  looking at the wrong place? where is the source of information for such properties available with zero down payment deal and private lenders?

Thanks,

Hi,

I've heard tapes, seminars and blah, blah, blah, about this particular subject but I've never really seen step by step with actually company names and contact information.