Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Emmanuel Cano

Emmanuel Cano has started 13 posts and replied 42 times.

Post: I plan to rent my property

Emmanuel Cano
Pro Member
Posted
  • Posts 43
  • Votes 7
Quote from @Lauren Stark:

@Emmanuel Cano I am an investor and real estate agent in Madison, WI as well. Shoot me a DM and let me know the area your house is in. I'm happy to provide any insight I can give to you and give recommendations on property management companies to call. 


hello good morning, I apologize I do not know how to send you a DM but I live in whitewater WI, thanks for your help I appreciate it.

Post: I plan to rent my property

Emmanuel Cano
Pro Member
Posted
  • Posts 43
  • Votes 7
Quote from @Drew Sygit:

@Emmanuel Cano not many PMC's manage boarding houses as it can be very time intensive.

First, check the local ordinances to make sure you can rent out by the room. Just because someone else is doing it, doesn't make it legal.

Second, find out who manages the property across the street. It may be the local owner. Perhaps they would agree to limited assistance with yours? They should be careful of breaking state laws about real estate licensing requirements for managing property they do not own. 

Otherwise, look online for rentals in the area and start contacting the property management companies and agents (ask the agents about PMC's). 

Since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:

https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes


Thank you, I appreciate  very much, I will do it and I will try to share my progress with you if you allow me.

Post: I plan to rent my property

Emmanuel Cano
Pro Member
Posted
  • Posts 43
  • Votes 7
Quote from @Erin Dreher:

You might start by calling around and interviewing property managers to see what services they offer and if they will be a good fit for you. I think you will do well with this. The only thing you may need to factor in is that you will could have some turnover as classes end and a lot of students go home. Just something to think about.

I would see which is more profitable for you renting the house or by the room.. 


I used the rent estimator in beggerpockets and I think  as a house it is not very feasible to be able to rent it, not only would my profit be very little, approximately 200 per month, but also few people would want to pay 1600 per month, however, across the street from my house There is a house with four rooms and each one rents it for 475, my house has the same rooms and two bathrooms, which makes 1,900 less 965 house payment, less insurance 80, taxes 187 per month and 80 property maintenance, that gives you 1,312 with a profit of 588. what do you think? with your experience.

Post: I plan to rent my property

Emmanuel Cano
Pro Member
Posted
  • Posts 43
  • Votes 7

This is why I love this community, I thank you immensely

Post: I plan to rent my property

Emmanuel Cano
Pro Member
Posted
  • Posts 43
  • Votes 7

hello everyone, any help or advice will be greatly appreciated, I live in a college town, and I want to rent my house; I think that living in a college town, gives me the advantage of being able to rent my house by single room, after all This is how most property owners do it, my question is what type of rental agreement can I use for this purpose and since I will be moving out of the state What property management company could I use? I live in Wisconsin

Post: beginner in investment

Emmanuel Cano
Pro Member
Posted
  • Posts 43
  • Votes 7
Quote from @Andrew Garcia:

 Hi @Emmanuel Cano, when you speak with them, make sure that you build rapport and approach them with empathy. They are in a tough situation and if you come out like a pitbull, you will likely not get past an initial conversation.

The first step is to find out how to get in contact with them. You can skip trace them or send them a mailer or show up on their doorstep. Usually, you should come into an offer with proof of funds, such as a pre-approval. However, in today's market, it likely won't last long so you need to get in front of them ASAP.

The second step is to get pre-approved to ensure that you can close on the property.

The third step is to determine how much they owe on the property. Offer them speed, convenience, and a way out of their current situation.

The fourth step is to make an offer that covers the amount that they owe plus fees, commissions, and closing costs to ensure that they are at least breaking even.

Once you have it under contract, the lender and real estate agent will help guide you through the process.

Please let me know if I can be of any assistance.


  Thank you kindly for the extremely informative response. I sincerely appreciate your time. 

Post: beginner in investment

Emmanuel Cano
Pro Member
Posted
  • Posts 43
  • Votes 7

good afternoon, I have a question, I received a pre-foreclosure notification from beggerpockets and that property is 5 minutes from my house, what could be my approach to this opportunity? I don't know how accurate the zillow analyzes are but They say that the property is valued at $181,000 and the remainder is 62k. What would be the steps to follow? Any guidance would be greatly appreciated.

Post: beginner in investment

Emmanuel Cano
Pro Member
Posted
  • Posts 43
  • Votes 7

Thanks for the information and advice, I appreciate it.

Post: beginner in investment

Emmanuel Cano
Pro Member
Posted
  • Posts 43
  • Votes 7

I have a question, I own my house and I have been trying to refinance but I do not have enough equity in the property, and all the companies that I have contacted, ask me to try to make more payments to try to lower what I have to pay on my debt, which is 156 to this day ,the house is valued at 183, my question is can I take out a personal loan maybe 10 or 15 k and put it on the principal of the house or use that money for my first investment? What I can do ? any advice will be greatly appreciated.

Post: beginner in investing

Emmanuel Cano
Pro Member
Posted
  • Posts 43
  • Votes 7
Quote from @Jack C. Cheng:

Hi Emmanuel,

Are you in Wisconsin? If so, I can share with you a rental application template you can use. Also happy to hop on a call to talk through some ideas that can get you started.

Cheers,


thanks for the support. I appreciate