All Forum Posts by: Frank Rodrigues

Dominick,

If your fear to lose money is greater than your desire to make money in RE then walk away. If anybody on here tells you that you will never lose money in RE they are lying! Losing money is the cost of being an investor, it will happen, even to the best of them. But that doesn't mean you won't make more than you lose if you do it right. Trial and error is not for free and neither is an education and the bottom line is you will learn from both of them but you will need to choose which route you want to follow. We have all heard the old adage "Fortune favors the bold!" but I also know that RE investing is not for everyone. So the real question is do you want to be a RE investor? If the answer is yes, then do it! I think you are in a financial situation that you can recover if you take a hit. My personal opinion is that maybe a BRRRR is not the best option to get started. Maybe finding a good cashflow property in a good market that will yield a good rate of return may be a safer option to get your feet wet, build your confidence and if you have questions about that, feel free to PM me. Regardless of your choice, just remember that fear is part of the game and it's normal to have it but never let it consume you when the I's are dotted and T's are crossed, sometimes the only way is through so take courage and go on your way! I hope that helps and best of luck!

Hello Lucas!

I have been investing in the Ruskin Heights area for years. There have been a lot of homeowners moving into the area so home prices and rents have been going up. There's a small HOA that keeps a good eye on the neighborhood. The homes are all one level and make for a great buy-and-hold investment with solid cap rates. I hope that helps and best of luck! If you have any more detailed questions about that area PM me and I'll help.

There's a lot to digest here. If your ultimate goal is to go overseas then I would say creating a powerful cashflow portfolio might be a really good option imo. Something that you can manage from afar and still reap the benefits. With that kind of money, I would consider commercial multi-units. I know a handful of investors who set themselves up for life while creating a legacy to pass on to their posterity that way. I hope that helps and best of luck and congrats! If you have questions about finding good commercial multi's PM me. 

@Nick Henry

You have enough money to start with a single (possibly two depending on the market) or multi so pick one. Multi’s have better Cashflow and singles are easier to sell with great appreciation if you choose the right market. Once you have made your  choice ask yourself do you want to run everything? Dealing with contractors, boots on the ground, finding competent property management… or would you rather go full Turnkey and not do all the work? Both are gonna cost you. One with time, effort, trial and error or the other with a higher premium. And finally the market that is going to help you meet your goals whatever that may be. Once you’ve done that pull the trigger and go. I hope that helps and best of luck to you! 

Roberto,

Most people use their LLC's to separate their government name from their business for tax reasons and liability. I personally prefer separating the two for everything when it comes to business. My personal is the only property that I own under my government name, everything else is under different entities. I hope that helps and best of luck!

Raymond, why would you want to transfer your Cashflow into a Roth when there's a lot more flexibly and benefits with a SDIRA? and unless you are over 59 1/2 years old there really isn't any benefits either. Ideally what you want to do is use funds from an IRA that is giving you single digit returns and roll it into RE to maximize your assets, especially with passive income. If you have questions PM me. I hope that helps.

Hi Wade, I guess it will all depend on what you are looking to focus on, Cashflow, cap rates, appreciation… I do BRRRR and Cashflow in the the KC market so if you want to go into specifics PM and I'll do my best to help you. Here is some new info on the KC market that may also help, best of luck!

@Lesley Whitley

If Cashflow is your main focus most places in OH are great. I have had success in both Cleveland and Dayton. If you have questions about those two areas feel free to PM me. I hope this helps and best of luck! 

Anshul,

I agree with @Joseph Schweizer. KC is a great place and has been for years. Here is a quick look at what's going on in that market currently. Feel free to PM if you have any questions. I hope that helps and best of luck!