All Forum Posts by: Francisco Perez

Hey guys! I appreciate you taking interest in this and helping me out! I truly believe this to be a good investment opportunity! The seller counter the offer I did for just below asking and them paying closing costs so I think that’s a fair deal. However, I was just at work and a coworker mentioned that he needed to get rid of his property because he was moving out. I asked him about it and he said it was a 3bed/2bath built in 2017 and he was willing to sell it for $150-155K but it was worth around $180k-ish. It immediately caught my attention and I told him I could take a look and see if it was of my interest. It’s also an off-market lead, he was planning on going to a realtor tomorrow to get it on the market so I’m getting first chance on the property. It is in a not so desired neighborhood part of town (I would say C, C-) but I’ll go look at it in a couple of hours and then assess if it’s better for my investment. If not, I’ll accept the offer of the first property and continue to the closing process! Wish me luck!

Adam, thanks for the reply! Thanks for the confidence boost, I feel like I’ve analyzed the market a lot and needed to make a move on it and get some actual experience. I’ll keep this in mind tomorrow if I make an offer on the property, I wouldn’t want some other competition with more experience getting their hands on this if I have a chance to grab it first! I’m thinking of doing a double offer to give them options to choose from (both reasonable offers), that way I hope to get them on dropping the price where it’s still beneficial for both parties! I’ll keep this thread updated if you want to know how it went! Best wishes!

Hey everyone! I'm going to see my first potential lead tomorrow and I wanted to know what questions, concerns or contingencies you had for your first property. The market that Im working on has a tendency of having properties listed for a while but they usually sell pretty quickly. The property has been on the market for 30 days, so I'm going to offer below asking and start negotiating after that. It is a SFR w/ 2bed/2baths with an office (hidden 3bed/2bath) and its priced 30-40k below the other properties around. Also, I am planning to make the property a 3/2 ASAP and I already have some potential tenants for the property, making it cash flow positive since day 1!

My concerns coming in are how to negotiate the property well, and how to keep an analytical mind when it comes to buying properties (especially the first one!). Thanks in advance for the help, super excited to get started!

@Lydia S.

Thank you, Lydia!

I’ve been exploring the forums and using the website more often, trying to learn more on how to use it lol. Thanks for the tips! I’ll make sure to include those things in my search :)

Hello everyone! My name is Francisco, I'm 25 years old, originally from Puerto Rico but joined the USAF active duty two years ago and I've been traveling all around the nation ever since! Previous duty station was in San Antonio but now I'm in New Mexico for the next couple of years. I've been playing around with the idea of REI since 2018 but now I'm in a position now where I can make bigger financial decisions and I've gone all in on this! I'm currently working on paying off debts (i.e Car loan) this year, but I'm taking this time to educate myself all I can in this business and network to actually purchase my first property next year! I was actually speaking to an agent and she brought up this property that could be profitable if the numbers are right. If so, I might even purchase it this year if there is a demand for it quickly and could render some cash flow from the start.

I would like to hear from you about this. Any tips & tricks in the business that you may have are welcomed! Also, as the description says, I am looking for people who are also starting and/or have more experience that could share any knowledge here that could help me out to learn more about this business. Furthermore, if you are an investor in New Mexico please reach out! I am more inclined to invest somewhere near my zip code instead of branching out somewhere else just yet, just because I don’t have much knowledge on it. But hey, I am open for it if I find a way to work it out!

Wishing you all the best!