All Forum Posts by: David Ramirez

@Owen Dashner I've heard of Pace Morby but I've never looked into his content, I will check both of them out. Thanks for the recommendation!

@Eliott Elias @Brett Deas Thanks for the recommendation!  As soon as I finish "$100m offers" by Alex Hormozi, I will read both of them. 

I'm looking to do training in sales & negotiation for my lead generation business. Does anyone have any recommendations on any good programs?

Hey Jace, 

When I started out 3 years ago I was 22 years old and I was in the same situation as you are in now. I decided that I was going to learn and absorb as much knowledge as I could to provide value to every investor or real estate professional that I would meet. Every time I met someone I asked so many questions because people love when someone is interested in their story.  

Don't be afraid when asking for money. There is money everywhen and there are tons of people willing to lend that money and get a return. Before asking for money make sure your numbers are right and that you are actually providing a good deal to a money partner. 

Feel free to reach out with any questions. 

Regards, 

David 

Hey Tim, 

I flip houses here in Tampa, Florida. Feel free to reach out with any questions. 

Best of luck!

David

Hey Eric, 

Determine a fair interest rate with your relative and after you know that you can calculate how much money you can pay monthly. If you want to keep the property as a long-term rental I would calculate how much that property would rent for and then you can do the 50% rule which is that your monthly payment and interest should not be more than 50% of gross rent for you to be able to cash flow. To make the deal attractive to your relative I would recommend determining a loan duration of not more than 10 years with the last payment being a lump sum. 

Good luck!

David

Hey Garrett, 

I would try to get the monthly payment on that seller finance loan lower than 50% of the gross monthly rent that way you can get private or hard money on top of the loan and still be cash-flowing after renovating the property. Since it would not make sense to refinance after renovating I would ask around for money and give out a little bit of equity or set up a repayment plan due in a span of 5 years where it would make sense to refinance. 

Hope this was helpful. Good luck!

David

Hey Austin, 

For area demographics, I would recommend using https://www.areavibes.com/. Since I have access to the multiple listing service I get my comps through there but you can get comps from an IDX website like Redfin and Zillow. For Market trends, I go by supply and demand by checking available properties and sold ones. 

Hope this was helpful. 

Regards, 

David 

Hey John, 

I'm not familiar with the Philly market but with my experience, I would definitely recommend looking for a fixer-upper. We are entering a buyer's market right now so I think you can find a good value fixer-upper by sending several offers a week. 

Always estimate the worst when flipping. 

Good luck, 

David

Here is the link to our next meetup https://www.biggerpockets.com/... see you there!!