All Forum Posts by: Erik Orozco

@Account Closed it's a pleasure to meet you. What brokerage do you work for? I'm interested in learning about commercial loans. My wife has a daycare business in Weslaco and we're interested in building/purchasing a commercial space in the future.

Woooow those are great numbers! Makes me want to get into flipping...Miliam, that Nolana and 10th area right? We should get on a call or grab coffee, I'd like to check out your operations.

We're doing great. Building 2 4-plexs right now in Weslaco the 1st should be completed in about 30 days. Rentals is a different game than flipping though, its slow money. 

Always doing deal congrats @Boone Tyson. We need some details brother! Whats this going to appraise at or range you think it will list for? What type of line of credit are you using, HELOC?

The RGV market is on the rise @Jonathan Flores. I'm no economics guru, but it doesn't take one to see the RGV's steady growth. From those investors I've connected with, any niche in real estate can prove successful in the valley. @Boone Tyson does flips if I'm not mistaken and I know several wholesalers that have done well. I myself focus on buy-hold small multi-family properties. I don't have the time to jump in full time so I've found that rentals are the perfect fit since they can be somewhat passive. 

@Donald Thomas man 1st of your on BP asking questions and wanting to get started. Sometimes just finding the site and beginning to change your mindset are the hardest gears to grind. I'm from Seattle born and raised, but I live and invest in south Texas.

The best advice in my opinion is the FHA House Hack whether you own a home or not, now if that's not something you are willing to do then take the time to study markets. Do your due diligence and take action before REI becomes an afterthought! I'm currently working on acquiring my 2nd and 3rd 4-plex in the McAllen area. If your interested in investing in south Texas shoot me a message.

Congrats on taking action @Justin Wotring!

Welcome to BP Jonathan! What niche are you focusing on? I'm an investor here in the valley. Glad the BP Community in the RGV is growing!

Bachelors in Criminal Justice and Chemistry. A Masters in Forensic Science. All very expensive...wish someone had pushed real estate on me at 18. 

Hello BP! I really need help on this one. I'm considering building a new 4-plex as my next deal and it would be a house hack of course. I'm located in Weslaco, TX (Very South Texas). There's been much growth in the Rio Grande Valley/McAllen area due to many factors and so far I've had solid returns with my 1st 4-plex here, but it was a value add deal with substantial equity built in.

These new construction plexs I believe would be in the B-class category. They are being sold between 325K-360K. With some networking I made some solid connections and I can purchase for about 300-310K. These plexs consist of 2x 2/2's and 2x 3/2's. The 2 bedrooms 2 baths go for 850 and the 3 bedrooms 2 baths go for 950 bringing gross rents to 3,600. The numbers definitely meet my criteria and 1 house hack 4-plex is well below my own risk tolerance.

From my understanding this market has seen steady growth for decades and is not necessarily affected like the larger Texan cities from market fluctuation. But it seems like just about everyone is preaching to practice cautious investing right now, hence my hesitation. 

My question is if I were to look to purchase multiple new construction plexs what risks should I be considering? What analytics for supply and demand should I be aware of? What indications tend to precede a market surplus? I'm still a newbie and I've never analyzed real estate at this level and appreciate any help.

Booked! I'll be there. I reserved a room at the host hotel. Any guys looking to split a room let me know.