All Forum Posts by: Gabriel Amedee

Happy Hour Hangout -REI Meetup

What Do We Do - Every month we meet on the last Tuesday and talk about EVERYTHING related to Real Estate. This includes, but is not limited to: How to get Started, Strategies we use, Areas of interest, Events we attend, Market Updates, Books we Recommend, and much more!

Who Can Attend - Fix & Flippers, Wholesalers, Buy & Holders, and anyone investing or looking to invest in the wonderful world of Real Estate.

Our Mission - To create strong and long lasting relationships with like-minded individuals who are looking to grow as an investor in Real Estate ( while enjoying a drink and having a great time! )

Our Only Request - The event is 100% free but if you could please be so kind to purchase at least one item at the venue it would be greatly appreciated (50% off all drinks till 7pm & $2 Pizza @ 9pm). Even a bottle of water will keep them very willing to host our event as our group continues to grow. This is not mandatory at all to attend. Thank you!

Happy Hour Hangout - REI Meetup

What Do We Do - Every month we meet on the last Tuesday and talk about EVERYTHING related to Real Estate. This includes, but is not limited to: How to get Started, Strategies we use, Areas of interest, Events we attend, Market Updates, Books we Recommend, and much more!

Who Can Attend - Fix & Flippers, Wholesalers, Buy & Holders, and anyone investing or looking to invest in the wonderful world of Real Estate.

Our Mission - To create strong and long lasting relationships with like-minded individuals who are looking to grow as an investor in Real Estate ( while enjoying a drink and having a great time! )

Our Only Request - The event is 100% free but if you could please be so kind to purchase at least one item at the venue it would be greatly appreciated (50% off all drinks till 7pm & $2 Pizza @ 9pm). Even a bottle of water will keep them very willing to host our event as our group continues to grow. This is not mandatory at all to attend. Thank you!

@Javier Roca Hey Javier! I work with a lot of multi-family and host a monthly meet up where a few multi-family investors gather together & share experiences. Let me know if you're interested in attending the next hangout

@Jahmel Trouchen Hey Jahmel, Anyone who claims one investment above all has no idea what they're talking about. You need to find the advantages & risks of different strategies and decide yourself which one works best. A finanfial advsior wouldn't make the same investment for someone who is fresh out of college as someone who is looking to retire soon. Bottom line, learn about the different strategies and you'll get to the point where you yourself will know which investment is best for you. If you don't know which suits you best, no one else ever will.

Originally posted by @Nicolas Da Silva:

I have two questions:

1. does this sound like a good investment?

- if this was a confirming property I would say the numbers look golden. The fact that this is an illegal triplex makes it a little less appealing for the risk you are taking on. I need to hit 1% if I'm going the non-conforming route.

2. Should I do an FHA? Or seek capital from friends and family to avoid the PMI and get a conventional loan for 20% down?

- Did your Realtor confirm that this could be financed by FHA? Sounds like a tricky one to pull of during an FHA appraisal. If not I would look into the HomeReady program for an alternative low down payment option.

Feel free to reach out if you have any more questions. Good luck!

Happy Hour Hangout - REI Meetup

What Do We Do - Every month we meet on the last Tuesday and talk about EVERYTHING related to Real Estate. This includes, but is not limited to: How to get Started, Strategies we use, Areas of interest, Events we attend, Market Updates, Books we Recommend, and much more!

Who Can Attend - Fix & Flippers, Wholesalers, Buy & Holders, and anyone investing or looking to invest in the wonderful world of Real Estate.

Our Mission - To create strong and long lasting relationships with like-minded individuals who are looking to grow as an investor in Real Estate ( while enjoying a drink and having a great time! )

Our Only Request - The event is 100% free but if you could please be so kind to purchase at least one item at the venue it would be greatly appreciated (50% off all drinks till 7pm & $2 Pizza @ 9pm). Even a bottle of water will keep them very willing to host our event as our group continues to grow. This is not mandatory at all to attend. Thank you!

Hey @Milagros Aspillaga! I'm going to have to agree with Marc's suggested strategy. If it's not broken why fix it? You could use that same money to purchase another property that will cash flow from day one rather than have your cash flow at the mercy of a contractor, the city, subs, etc. Unless your current property needed new plumbing, electrical & structural remediation towards the end of its useful life, I can't see it be worth tearing down. At least not in this market. Margins are already thin as it is. Feel free to reach out if you have any more questions. Happy investing!

Hey @Tyler Harrel! Is your dream to sell your property below market value? I do this type of hunt for my developer clients & none are looking to pay market value for these soon to be demolished properties. If you want highest & best offers I suggest putting on the market for max exposure. If you insist on selling it directly to a developer yourself (for whatever reason) then you can try checking County tax records of previous investors who purchased in the area. I do this myself & worst case scenario I make a few good contacts. Hope this helps!

Happy Hour Hangout - REI Meetup

What Do We Do - Every month we meet on the last Tuesday and talk about EVERYTHING related to Real Estate. This includes, but is not limited to: How to get Started, Strategies we use, Areas of interest, Events we attend, Market Updates, Books we Recommend, and much more!

Who Can Attend - Fix & Flippers, Wholesalers, Buy & Holders, and anyone investing or looking to invest in the wonderful world of Real Estate.

Our Mission - To create strong and long lasting relationships with like-minded individuals who are looking to grow as an investor in Real Estate ( while enjoying a drink and having a great time! )

Our Only Request - The event is 100% free but if you could please be so kind to purchase at least one item at the venue it would be greatly appreciated (50% off all drinks till 7pm & $2 Pizza @ 9pm). Even a bottle of water will keep them very willing to host our event as our group continues to grow. This is not mandatory at all to attend. Thank you!

If anyone needs assistance locating the venue or us please do not hesitate to reach out!

305.332.0712

Gabe