All Forum Posts by: Frank Trigoso

Use the Biggerpockters rental calculator, and post the rental analysis to the community. I am sure you will receive feedback.  Think worse case scenario. Calculate your numbers well, and have a few exit strategies devised. 

I use it; however, I am not solely sold on it. The landlord may praise the tenant to help remove the tenant from his/her property because the tenant could have been a headache. 

If you invest in D-Class (the hood), then you must prepare yourself to hold on to your property for the long term. The war zones are the last to improve in areas. I own one property in Florida City, section 8. I will be selling soon. I am fortunate because I am in the Miami market and it's fast pace deals. Judge each deal subjectively (how does the property make you feel?) then objectively (run your numbers). 

The MLS has been good to me. My last three properties came from the MLS. However, I went through the conventional pathway. @Kenneth Garrett what lender do you use and/or would you recommend? To raise money is an art.    

Dave Ramsey brings an immense of value. Reading his books; it inspired me to pay all bad debt. However, there is good debt and bad debt. His theory of zero debt is because he over leveraged himself which led him to reach a financial crisis. Robert Kiyosaki promotes good debt. Debt is like a gun it could either protect you or you might just end shooting yourself on the foot. 

Your fiance goal you aim to achieve  depends on the numbers, location and the type of deal. Miami is at an average 7 percent cap rate. Depends on your market. Sixteen units or more is recommended so you could scale. Remember, 2+2 = 4, 3+1= 4, 6-2 = 4. Meaning, there are different ways to achieve your goal. 

I own a lovely Hialeah SFH. Great rental market.

@Clay Manship Any updates of your deal? 

Yes, kitchens and bathrooms is what will impact your deal. A shingle/tile roof does not mean much to a buyer of SFH. I renovated my roof two months ago, and I honestly don't feel no change to the house. Kitchens and bathrooms. Grant Cardone states the 35% for rehab cost rule. Meaning you must receive 35% profit on top of the original money used for rehab.

Congrats on the purchase. You want to market your property to the best of your ability. Screening starts as soon you answer the phone. You hold the cards and you set the rules. Tenant's will pay first and last month along with security deposit. Tenant income must be 2.5 to the rent expense. You don't want  a tenant who scrapes there way by. I use www.backgrounds.com to complete the background process. You could also have the tenants to bring you there police record by going to the nearest police station. You must fill your pipeline with an immense of potential tenants and you will have the luxury to select from.  I am in the Miami market.