All Forum Posts by: Frank Trigoso

Take a look at building a small private studio/efficiency room in your house and rent it out. Many are doing it in Miami. Could be risky, but an additional private room may pay 1/3 of your mortgage. That could be additional money to invest. Just a thought. 

@Robert Hetsler thank you for your response. There is nothing wrong with the apartment. It has appreciated 15k in the past two years. It's actually a 3/2, but on paper it's a 2/2. I purchased it with the balcony already renovated into a room. I probably could sell it more than 130k. I have been trying to find ways to purchase additional properties by leveraging my apartment. I know the 1031 exchange maybe to extreme; therefore, I believe a HELOC or refinance maybe a better option to purchase a second property. My goal is to purchase a property every 18 months. I'm trying to find a creative way to fund a down payment for a second property. Any additional suggestions will be truly helpful?

Hello Bigger Pockets,

Thank you for your time. Any help will truly be appreciated.

I own one property that is Fair Market Value (FMV) at 130k. I owe 86k to the mortgage. Cash-on-Cash return is 14.5% annually. I own the property for two plus years. I don't have much capital now as I invested 25% of my earned income as my down payment.

I have been heavily thinking doing a 1031 exchange to use the 3-property rule to purchase additional properties. I also considered refinancing my mortgage, or doing an HELOC. What suggestions do you recommend? I would like to switch one apartment for two to three apartments to double dip (create PCF and create appreciation). I purchased my apartment from the MLS, which this time around I devise to purchase from a wholesaler to buy and hold. Any feedback will be truly helpful. Thank you.

Please crunch the numbers and understand your Cash-on-cash return before you sign any papers. I know anything above 14% is a phenomenal deal. This small formula could be the deal breaker for you. You don't want a property total rent 1000 and mortgage and feeds total at 900. It's more about the cash flow, which is what you could control instead just the appreciation. It just takes one deal to make or break you. Please do your due diligence. We are all here to help. Good luck

I was told by a successful real estate investor if you do a full rehab and the profit isn't 40k minimum don't do it. It's important to learn to fold them and hold. This is a fold to me. I would say get in contract to obtain control to assign it to another investor, but it's foreclose, so not sure how that works. 

My advice is to pay for the best education. It doesn't have to be degree, but a mentor who has a investment portfolio you desire. To mentor somebody takes time. If you go the school route just begin with the general courses before working on your major so you may have additional time what pathway you desire. There are three types of education: Academic, Professional, and Financial. One who is academically genius won't transfer to financial knowledge. There is a balance we must have to succeed. Hope this helps. Good luck.

Waw. Thank You Kan. I will strongly consider that approach as my goal is to purchase one property every 18 months. Thank you a million. 

There is a software called Real Estate Property Pro. It will show a list of cash buyers from the zip codes you are selling your properties from. Meaning it will have their phone numbers, email, and name or LLC. It is a very useful tool. Look into obtaining it.

Hello thank you  for visiting my discussion form.

I'm 27, I own one real estate property. The way I purchased my first property was by putting a down payment of 25% on a 3/2 apartment. The 25% took a while to save but it was worth all the hard work and the tenants are great.

My goal is to own (buy&hold) four properties by 30. What ways do you recommend to raise capital to purchase another property. I live in Miami. To put down another 25% seems like it will take forever to do again. All responses are welcome. I have really been considering doing the HELOC.

I would recommend obtaining an LLC for your two rental properties to help protect lawsuit from your tenants. I wish I could help you more. Good luck!