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All Forum Posts by: Enrique Huerta

Enrique Huerta has started 3 posts and replied 207 times.

Post: Tenant not paying rent

Enrique HuertaPosted
  • Investor
  • Los Angeles, CA
  • Posts 213
  • Votes 162

Contact a lawyer.

Post: How do you go about finding apartments for sale?

Enrique HuertaPosted
  • Investor
  • Los Angeles, CA
  • Posts 213
  • Votes 162
Originally posted by @Marty Summers:

I am interested in finding a good multi-tenant apartment complex like a 16 to 24 unit for a price range of 300-700k. However, I have no idea where you guys find these deals. Can you assist? I would like to find an older investor that is looking g to retire, put 200k of my own cash into it and finance the rest.

Start with loopnet.com and also reach out to brokers in your target market. Ask any investors you know for referrals and introductions. Crawl craigslist to call small property owners if they self-manage. Once they are on the line you can inquire about acquiring their asset.

Post: Seller refuses to turn over financials

Enrique HuertaPosted
  • Investor
  • Los Angeles, CA
  • Posts 213
  • Votes 162

This is frustrating but not uncommon with mom and pop owners like someone mentioned. Go to their office with a note pad and a phone to take pictures.

Do your lease audit and financial statement audit while on site. That should be okay and then get estoppel certificates too.

Lastly, the lenders will require the financials so make that clear...

Post: Would this interest your apartment buying clients?

Enrique HuertaPosted
  • Investor
  • Los Angeles, CA
  • Posts 213
  • Votes 162

@Rich Weese, I personally would have zero interest in that arrangement as a buyer. It would surely benefit a seller, but I don't think many buyers would go for it unless they had to (1031-exchange). 

At the moment, we see no need to make hard EMD upon PSA execution or write price increases into a contract. I'm seeing longer DD periods and lower pricing. Not everywhere but in certain markets...

Post: The Reasons Why It Happens

Enrique HuertaPosted
  • Investor
  • Los Angeles, CA
  • Posts 213
  • Votes 162

The norm for most investors is that they want alignment of interest. They want you to put some money into a deal alongside them (skin in the game). Someone mentioned it already and it's because if you win, you win together. If you lose, you lose together.

HOWEVER, look for someone who will see your hunger and take a chance on you. There ARE some people who will say, "Hey, I like @Christopher Smith, he's genuine, hungry, and I think he will do the right thing." They are out there so stay positive and enthusiastic.

I have one comment and it is just my opinion (noun; a view or judgment formed about something, not necessarily based on fact of knowledge) so I hope you don't take it personal or that I'm trying to tell you what to do/not do.

I think you have self-doubt: "I often think to myself. Is it really that true? Is it impossible to accomplish a fear of this size"

and a negative attitude or outlook: "But do investors have to be so "anal" about everything that comes out of there mouth?"

The first statement shows some self-doubt which is normal. However, think the opposite "I know it's possible and I will eventually find the right deal and partners" and make sure to scale down your goals to what is tangible and realistic. For example, before I ended up working on 200+ unit deals, I was selling condos. That was the only tangible and realistic thing at the time and as time went on and I learned more I increased my goals even though my vision stayed the same. So maybe consider a smaller multifamily deal to start and learn. You're 19 and have access to VA financing like someone mentioned! Keep hustling my friend and you'll breakthrough.

The second statement is a negative attitude plain and simple. As someone mentioned, you may be taking the rejection personally. It is my experience that we attract what we put out into the universe...so if you think investors are "anal" then that is the only type of investor you will come across and continually frustrate yourself. Set your expectations positively: "I'll find a sophisticated investor who will be willing to take a chance on me and work together" and you'll have a better chance of finding them.

Again, this is my opinion. If you think I'm wrong or stupid for saying it, you're right too because you can choose your reality. :)

RE: Options (Wholesaling, Bird Dog, etc.)...

I personally wouldn't start there because I'm not passionate about it. I started by getting a license and being a residential agent. I wasn't passionate about that either but it was more along the lines of what I was willing to do to make it work and learn the business. I didn't understand the wholesaling model and I didn't want to go down that route (I think that is just unlicensed brokerage/middle-man...LOL). It comes down to what you're willing to do and what is really in front of you where you can take small steps. Just know you HAVE to have some interest in something to make it work... you don't have to love what you are doing but you must love the outcome. For example, I didn't necessarily love the RE brokerage space but I did it because I knew what the outcome would be (knowledge, investment capital, network, etc.). So decide what you're willing to do to get to where you want to be...that's what a sacrifice is. And then, just know you will get to the end goal as long as you don't quit.

Lastly:

"To whoever may read this. If you didn’t come from much. But you had a drive and you don’t really sleep that much. And your dedicated to reach that point to where a lot of BP investors are. And you reach that pinnacle of success. Would you treat someone on the other side of the fence as if your better? As if you were never that low?"

No, I would never treat someone that way. I never forget where I came from and I have a large interest in giving back, helping others, and putting others in a position to win because as I get better, I can help others get better, and they get better and can help others get better and It is a domino effect.

In general, however, and someone mentioned it...many people are just preoccupied with their own lives that they don't take a vested interest in others but it is not personal. It's just they way they are with others...as I said, just change who you're looking for in your life and you'll find them.


Best of luck Chris you'll do amazing as long as you persist and thank you for your service.

@Chris above me said it best: 

"Already you are far ahead of where I was at 19 by being on here, so keep crushing it! Every. Single. Day.

Consistent action regardless the outcome makes success inevitable."

Half the battle is having a vision (which you do at 19) and then it's just sticking to it.!


Post: Buying single family home zoned as multi unit

Enrique HuertaPosted
  • Investor
  • Los Angeles, CA
  • Posts 213
  • Votes 162

@J Folsom, I don't know the laws in Chicago but if I found a Single-Family Residence with Multi-Family zoning in Los Angeles, CA I would be all over it. Check with your broker, lawyer, etc. but it is usually a good thing. It literally means the city will allow you to build more units there. It's a great way to expand your current property or demolish the existing structure and build a whole new complex of units...

Best of luck and be sure to call the city and check local zoning laws with a trusted attorney or architect/consultant.

Post: Tips for a New and young Sales Agent

Enrique HuertaPosted
  • Investor
  • Los Angeles, CA
  • Posts 213
  • Votes 162

People may disagree but some of the most successful people I've seen in the real estate sales business are MFO trainees.

Look for "Mike Ferry TV" on YouTube and watch EVERYTHING. Download the scripts and practice them. Then, everyday, pick up the phone and make phone calls. That is priority #1. Call, Call, Call....Friends, Family, Neighbors, Expired Listings, For Sale by Owners, Developers, Investors, etc.

Since you're in the IE, if you find good investment deals (fixer upper homes, vacant lots or tear-downs with multifamily zoning, or a value-add apartment building) then feel free to message me. You can lean on me as a buyer prospect as I have cash to acquire good properties right now to rehab or build.


Best of luck and stay positive!!!

Post: Info on Apartment Buyers

Enrique HuertaPosted
  • Investor
  • Los Angeles, CA
  • Posts 213
  • Votes 162

HI @Shafi Noss, it sounds like you're interested in learning about the private equity investors and institutional investors in the real estate world. I'm happy to point you in the right direction...what exactly do you want to learn about them? Unfortunately, your post didn't elaborate on what exactly you're looking for...

Post: Apartment Analysis Software

Enrique HuertaPosted
  • Investor
  • Los Angeles, CA
  • Posts 213
  • Votes 162

@Greg Dickerson Will do. Thanks!

Post: Apartment Analysis Software

Enrique HuertaPosted
  • Investor
  • Los Angeles, CA
  • Posts 213
  • Votes 162

@Greg Dickerson This looks and sounds great...the pricing is also reasonable. Have you used redIQ? Would you have any pros/cons of Enodo Inc that you can share (assuming you're a user)?

Thanks for the recommendation.