All Forum Posts by: Fernando Tello

Hello Jon, I am interested in joining in to the next meeting. Could you please add me to your list? ([email protected]) 
Thanks and looking forward to the next one. 

Hello Jeremy, 

First of all thanks for reviewing the deal and taking the time to reply.

Answering your questions, yes it is a Fixer Upper, and I do have a Private Money Lender who is willing to lend me a Fixed amount of money on those terms (8% interest, no points down, if and only if I can deliver in less than 75 days).

Although, the information you provide with typical terms of hard money lending is super valuable, and I will definitely take it into account for further analysis, my questions still if in a BRRRR project should I consider the "Cost of Repairs" in my hard money loan? Or is it typical to have a separate loan specific for repairs?

Thanks again, 
FTW

Hello BP community! 

I am an aspiring investor and a new user of the BP calculators, normally I would prefer to build my own spreadsheets, but here I am trying to innovate myself and become more efficient in the analysis process. 

Unfortunately, my spreadsheet results for this deal defer A LOT from what this report shows and I just want to clear some basic concepts that maybe I am missing out. 

While using the BRRRR Strategy, should I consider in the "Aquisition Loan" the cost of the "Estimated Repairs" ? Or is it normal to have a different Loan for that? Or should I have the " enough cash reserves" to put it on the deal? If so, then it is imperative for a BRRRR strategy to work that the loan of the Refinance, after all repairs are made, covers completely or almost completely the Aquisition Loan, right?

Thanks for everything! 
Stay safe in this complex times! 

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Hello BP Community,

I came across a pretty attractive deal with a wholesaler for a good size property. (+1 Acre). Although the zoning is a bit different than what the rest of the properties that is surrounded by. If you can break that property in smaller plots and develop 3 or 4 properties, it might be a great deal. Unfortunately I am new with rezoning processes, I am afraid of having a "sitting duck" that will cost me a fortune on holding costs. 

(The current zoning is from Residential Estate and I want to rezone it to Residential Single Family)

So my questions are:
- What is an average time for a rezoning process? 
- What should I expect from holding costs with regards the property? (Considering it would be a knockdown/build opportunity)
- Is the rezoning process difficult and what should I be aware off? (Considering I am a new Real Estate investor I am having a lot of second thoughts) 

Any feedback is welcome and appreciate it! 
Thanks for taking the time! 
FT

Dear BP community,

I am recently starting a family real estate business here in Dallas (we are looking to buy a hold several multi families)  and my question is if it is still recommended as a real estate investor to become a realtor?

At first, I did not had any doubts about the subject but after talking to other investors, some of them have raise some concerns about it, citing some "conflict of interests" when you are a realtor v.s. a real estate investor.

(Ex.  When you see a small issue on a property that you have invested or want to invest in, and you know there is a quick fix or that the small issue wont be a real problem until 20 years from now, as an investor you can either do the quick fix or even forget about it,  knowing that is highly unlikely that you'll have the property for that long. On the other hand if you are a realtor you are obligated to report the issue, and deal with it as soon as you find it) 

Again I am new to all this so do not know the veracity of all the facts in the example, but that is the one I remember

(For me the point of becoming a realtor, was to get some more leads, and have an easy way to get good comps with the MLS)

Let me know your thoughts, 
Thank you and all the best