All Forum Posts by: Genesis Pacheco

@Barry Pekin Thank you for that great information. This has been the only stressful part so far lol but once that first experience happens, i know it'll make more sense.

@Joe Villeneuve that makes  a lot of sense thank you so much for all your help. I'll keep you posted on my first success lol

@Anson Young Thank you Anson for that information. I contacted a contractor from craigslist and he said he does free estimates and can give a ballpark number with pictures or come see it for free maybe just gas. So thats a relief for now lol. i'll learn all i can with him god willing.

@Joe Villeneuve thank you for that info! How about for repairs how would you determine a rough estimate without a contractor? It’s my first time talking to a seller and I froze when he asked to make him an offer 😂 I know you have the 65-70% from the comps but the repair is the only part I’m having issues. I read somewhere that people do $15-$25 a sqft and that’s how they determine the average repairs.

Hello bigger pocket family so i have a two sellers that are telling me to give them an offer. Now i get that when you go on zillow and similar sites that you get the comps through there but i cant see the houses sold in that same block and also i dont have money for contractor just to give an  estimate so how can i determine an average cost for repairs without a contractor and get a close arv so i can make a good offer?

@Stephen J Davis Thank you for taking the time to respond. That was very helpful!

BiggerPockets family how's everyone? I did my first driving for $$$ and some of the owners came out either land trust or LLC what should I do with that any possible leads there or waste of time? Not sure what the land trust is? The houses were ugly and some vacant.

@Matthew Irish-Jones @Melvin List Thank you both for taking the time to respond i really appreciate it. I was thinking that the taxes were paid every year but was not aware that it could actually be included in the mortgage instead. so that makes more sense plus of course all the expenses.

Hello BiggerPockets family. So I’m just trying to get as much knowledge as I can and I’ve been learning about your first investment should start with the highest Multifamily which would be a four plex (4units) and of course having to live in one unit for 1year. My question is here in Florida, those type of houses range probably from 400-500k so how can I get a property that will make me profit? Also what about the yearly taxes and insurance how is it possible to make profit when taxes can be as high as $4000 let’s just say. Wouldn’t all the rental income from the other units just be saved up for taxes n maintenance as well? If anyone can please explain what’s the best way to pay mortgage, annual taxes, insurance, maintenance and still make profit after all that? Thank you family

@Dion McNeeley Thank you so much for taking the time to respond back and giving me such great information. Thats great that you are making 5k a month. I know it's a process but all can be done especially with information everywhere these days lol. Again thank you continue to strive!