All Forum Posts by: Frank Trigoso

I judge each deal subjectively and objectively. How does the deal make me feel? Do I like it? 

Then, objectively run the numbers properly, request for the trailing twelve month's (TMM). You are the investigator and do your due diligence.  If the deal makes sense then yes I will partner up with your mentor. 

Sell or be sold.

Request for the trailing twelve month's (TTM) to understand the financial numbers. Be conservative and do your number's off of 94% vacancy. I will beware of the tenants and understand and review their leases. Hopefully, they paid in three months in advance. Please remember, whatever the seller/broker say's; they are all guilty until proven innocent. What I mean you should be able to verify everything he or she claim's through statements/documents. How far is the nearest Starbuck's? Starbuck's select their demographics in healthy neighborhoods. Does your deal have a value add play to raise the rents in the future. 

Cranes in the air beware. Miami has an immense of projects on the expressway and they are overbuilding. Thus, our population has increased. The rule of thumb is you shouldn't spend 35% of your income on rent. Miami is at 57% according to the Miami Herald. There are many open developing permits as of now. We are 7% cap rate at best with commercial. 

@Jonathan A. - You are in a tough situation, but there are solutions. Find yourself a lawyer. You purchased a headache. You need to weather the storm and hopefully have funds to cover the mortgage and any additional expenses. It's an asset and your wealth. Take care of the issue immediately. 

@Kenneth Davis - Yes start the process of eviction, and have everything on paper. Unfortunately, this happens in RE. Its not personal, its business. Your tenant has her own issues, and no else will feel sorry for you. Part of the business. Keep us posted.

Hello Biggerpockets,

I now have 9 tenants. All moving in next week. I'm in need for a list of house rules. It seems each year a landlord needs to add on to the list. May anyone provide me with directions where I may obtain a list of house rules? Thank you for your time. 

Hello BiggerPockets,

I wish everyone is doing well. I just purchased an 9/4 house. Two rooms and 1 bathroom is actually separated in the backyard. I will rent each room out. I have purchased a coin laundry, each room with a mini refrigerator, 32 inch flat screen with cable, water/ electricity included. The living room is furnished with a 55 inch tv and furniture. The house is big. My main concern is tenants bringing someone to sleep over causing the house to have too many cars outside. I am currently removing  the front lawn to be concrete for parking. 

Does anyone have any comments or advice they care to share. Thank you in advance. 

I am in the process of owning a 7/3 and 2/1. I devise to rent out the 7 bedrooms individually. The 2/1 is a separate unit. The  house is big enough. I would like your feedback,please. I am in the  Miami market which rentals are hot. Thank you in advance. 

Hello BP Family,

I hope all is well. I am actively seeking to commit my first fix n flip. I am filling up the pipeline with deals to choose from. I have two properties underneath my belt (buy n hold). I am committed to RE. Message me directly if you committed to RE to network and discuss fix n flips.