All Forum Posts by: Freddy Hernandez

Hello, I am trying to move into multi-family investing and currently practicing running the numbers. One part I am struggling with it to figure out how much I would be paying for utilities. I dont see any mention on listings how much on average utilities are for the landlord.  Is there a recommendation on how to estimate these numbers?

Thanks all for the warm welcome!

 Lol I'm actually already part of that! I would love to join the meetings but has been tough with my work schedule and being a good distance away. I want to meet different folks so I will put a better effort into attending.

Hello everyone! Im new to real estate investing and would love to learn and be as involved as I can in the community. I am posting because I would like to be more involved in my local area for real estate investing. I have a lot to learn and I believe this can be a great way of gaining knowledge/relationships. I am hoping I can provide some sort of value to others as well! If anyone is familiar with any meet up and/or FB groups to join, please feel free to share. Look forward to being more involved!

Thanks!

Hi all! I am a new investor in the Joliet, IL area and I am looking for contractor recommendations. If anyone can recommend at dependable contractor who understands the investing world please feel free to recommend or refer, it would be a great help! Thank you all.

Hi all! I'm reading the BRRRR book and a big concept is the core 4 (realtor, lender, contractor, and property manager). As someone who is just starting into real estate investing and would like to start off by being the landlord and taking care of the tenants myself, does having a property manager in your core 4 make sense when starting? I understand the benefit of having one (getting opinions on rent, which areas to avoid, etc) but I dont understand how I can help a property manager here. I'm (at the moment at least) not giving them business since I am running it and would be a one way relationship (I would be the only one benefitting). Is there something I'm missing or does it make sense to not get a property manager involved at first? Is there a way I can ask for help from a property manager so I can receive help without wasting their time since they are not being paid by me.

Thanks for pointing me to this!

Hi All! I recently bought the pro annual membership (woohoo!) and I received an email that gave me a free coupon to "Claim Your Free Book: Buy, Rehab, Rent, Refinance, Repeat by David Greene". I tried getting the book but the coupon is not working and I tried all the available formats. Who should I contact to bring this up with? I am really interested in receiving my own copy. Thanks!

Thank you so much for your response @Randall Alan! If I understand correctly, basically the Refi in BRRR will not work because of the current high interest rate. That makes sense because the with the higher interest rates, it'll require a larger mortgage monthly payment. Would it make sense to possibly still go through with this Refi and have a higher interest rate? Assuming this will either be minimal cash flow or even a bit negative for possibly a few years. Once interest rates go down, I would then be able to refi again, get a better rate and should be cash flowing. Is this a possible strategy? I understand there are risks to this as no one knows when rates will go down or even how low.

Hi all! I was watching the BiggerPockets on YouTube and I was watching a video on BRRRR. This is a strategy I am trying to get into and learn as much as I can. I forget which video this was but this stuck with me. David mention when doing BRRRR, he tends to start it backwards so he has everything inline when it comes to buying (probably not exactly what he said but overall this was my understanding). So he mention this includes talking to lenders about doing a cash out refi before even having a deal. I would like to do this but as someone who has never done a deal yet, Im not sure how this conversation looks like? I wouldn't have a deal yet so Im not sure how this conversation would go. I am wondering if someone can help me figure how to start this conversation, what questions I should ask/or they will ask, and what items should I have have ready when calling a lender.

Thanks all!