All Forum Posts by: Erik Orozco

Estoppel is a must Mindy Jensen! One of my mistakes I made in the 4 plex i purchased earlier this year which caused many headaches. I 2nd Charlie MacPherson in that I wouldn't consider buying without one. 

Hey Jake welcome to BP and hello to all fellow RGV friends! I'm currently investing in the valley and would like to connect with you all. Do any of you attend the local REIA? Or any other meetup groups in the valley?

Welcome Hector! I'm familiar with the McAllen area and primarily invest in Weslaco. If you have any questions let me know.

Hey Travis. I'd have to agree with Greg and some of the others. Since price on these 2-4 units are based on comps you'll find it very difficult negotiating owners down to where the property will cash flow. 

I ran into the same problem, but I was determined to start with small multifamily. I didn't waste any time with the MLS properties requesting market price. I purchased a list of small MF properties from my county, drove for dollars, knocked on doors, cold called owners/LLC's, sent letters basically used all the steps a wholesaler would use for a SFR, but with a different target goal. That's how I found and purchased the 4-plex I'm currently house hacking at far below market price.

Good Luck!

I’m curious does anyone use the mike butler method he describes in his book Landlording on Autopilot? It consists of using a padlock/lock box method where he requests a picture of their drivers license and a picture of them in front of his unit and then gives out the combo so they can view it on their own. Eliminates no shows but seems risky.

Hey Mike! Is this still avaliable? I would definitely like more information and pictures please. I’m invest in south texas primarily, but will be moving to Washington next summer. Is 900-950 rent a conservative figure for market rents in the area? Also what do you estimate in repairs in order to get that rent to market?

Thanks a lot!

Driving 4 Dollars! Got as many multi plex addresses I could and starting door knocking and calling owners/LLCs!

Hello, I am considering purchasing a two 4-plex which are next to each other (same owner) and would like to obtain a commercial loan. They each have their own address and lot, not sure if this makes any difference. Is this any different than purchase multiple SFR's under one blank loan. Or can this be seen as an 8 unit property by commercial banks?

Thanks Jerome!

@Jeremy Taggart Thank you! I appreciate the kind words.