All Forum Posts by: Drue Fourmont

Hi everyone,

I’m seeking advice on a property for a family friend who’s considering selling it to reinvest in opportunities that generate better cash flow. Here are the details of the property:

Property Overview:

• Location: Texas
• 2 lots, 2 warehouse buildings

Financials:

• Mortgage: $4,897/month (balance: $530,000)
• Insurance: $830/month
• Property Tax: $1,800/month

Building 1:

• 1 tenant
• Rent: $7,570/month
• 12,000 square feet

Building 2:

• 3 tenants
  • Tenant 1: $2,850/month (5,000 square feet)
  • Tenant 2: $1,793/month (2,500 square feet)
  • Tenant 3: $895/month (1,250 square feet)

The property was appraised for $2,200,000 three years ago.

Given the current rental income and expenses, the cash flow is decent, but my family friend is looking to explore options that could potentially yield better returns.

Would it make sense to:

1. Sell the property outright and invest in higher cash-flow opportunities?
2. Refinance to pull out equity and reinvest while keeping the property?
3. Explore ways to optimize the current cash flow, such as adjusting rents or reconfiguring the property?

Hey Steve!

Thank you I will check it out! 

Making this post to see if there are any real estate investors in LA that are willing to let me shadow them. I am a heavily ambitious 21 yr old who is currently studying Finance at Loyola Marymount University. I’ve become obsessed with real estate ever since I interned at SoFi stadium last summer for The Kroenke Group Real Estate. I really want to meet someone who can provide me some guidance and broaden my knowledge on the industry. Please reply if you are an investor LA and have any time for a curious 21 yr old to bug you!

Hey Bigger Pockets world,

I am currently a Junior Finance student at Loyola Marymount in Los Angeles. I'm coming on the forum to get some perspective and insight. If you were in my shoes, what would you be doing right now. I am listening to as much on Bigger Pockets as I can. Trying to be a sponge in this real estate world. Just recently listened to the Josh Janus episode (21 year old real estate prodigy) and he started off doing cold calls working under an agent. Is this the route I should take:
Find an agent to work under
Cold call, cold call, cold call
Get good at analyzing deals
Get my real estate license  
Take commission and reinvest in multifamily

Please if anyone out there can give me some advice or point me in a direction I would really appreciate it.