All Forum Posts by: Erickson Sainval

Nice work, I am in Pensacola and invest there. Have 3 townhomes in the works right now.

I am in the area and picked up my 2nd property. Have 3 more under contract. he PIG was also referred to me, I have not joined yet but plan to. Feel free to hit me up anytime.

Dial down your criteria, what is important to you? Return on your cash or you happy with living rent free? Who says you cannot have both? Make a bare minimum baseline of what the deal needs to pass or even consider it. If it meets your criteria than you know it is  a buy without having to worry as much.

Future projections are just that, projections.

I think you need to ask yourself what can the market support right now?

 Cost of repairs? How much can you raise rents depending on your finishes? How is your financing? Have you gotten a idea from a lender in terms of your interest rate? etc.

You have to try and answer as much as you can before you make the offer, but do not take too long. Once you have a number your confident in and works, make the offer. If they accept great, if they do not, follow up consistently.

If you have the 1 year savings, than I think it could be a good deal. As you said, you'll have someone paying for your equity.

great work! hard work and determination paid off.

I am in Pensacola now and the market is only going to improve. I would refinance and get that property manager to save you the headache. Always better to hold, unless you have a goal that requires you to sell for an even better return.

Great value and insight! Definitely saving this one Julio!

 Yes,

The Definitive Guide to Underwriting Multifamily Acquisitions by Rob Beardsley

You named some solid places. I say look at the demographics, 200k+ population, 20% or less poverty, 445-55k median house income, and 150k+ median house price.

Numbers look decent, capex as mentioned might need to be more unless you do cosmetic with some sweat equity. I would anticipate having to leave a 10-13K in the deal after the BRRRR. I do not think the ARV is strong enough to be able to get all your money out.