All Forum Posts by: Gilbert Dominguez

The point being that real estate is also a subjective investment. Things are worth what people are willing to pay for them at any point in time. Market sentiment, Economic performance. or which way the wind is blowing on any given day will determine what a property is worth and what people are willing and able to pay in rent before they decide to revolt against the whole thing, heheheheheh. Real estate investment performance is as wide spread as there are locations. The real estate is generally as stable at the location where the properties are located. The more stable the higher price and generally the poorer the cash flow but the appreciation is better. We all want fairness when it comes to our own personal situation but given the opportunity we will create a system in which people just cannot afford to have a place to live and then the whole thing reverses. A $25,000.00 investment should pay off in 10 years. That mean the rents should be $5,000.00 per year because of all of the expenses involved over the years. That means the rents should be around $417.00 per month. Will people charge that? No, we want the rents to be between $600.00 and $700.00/mo. This logic follows at all levels until it cannot. Investors in general are not concerned about fairness they are mostly concerned about their own personal greed. Why will they and do they fail? Simple, many are ill prepared for whatever they undertake. Real estate investing is an expensive game. Most try to do it before they are truly prepared to succeed. People fail to calculate properly all types of costs or they simply buy in areas where the property will just not perform economically. 

I want to start out with $1,000.00 and become a millionaire. I just do not understand why the world will not cooperate with me. 

God gave us the power to reason and if we used good reasoning then we should in the end succeed. The problem is reason tells us what we do not want to adhere to and that is the real reason those that fail do fail. Who cares where a statistic comes from. You can create 1000 sets of statistics all showing their own logic and result. What is important is that we invest in our environment and produce an environment of contribute to the creation of an environment that is lasting and of benefit for all otherwise we are doomed to fail. 

The best way to find a mentor is to bring money to the table. Put money into one of their deal so they can make money as well. Pay into a deal and you will find a good mentor. How will you know if you found a good mentor? Easy they made money for you and if they don't make money for you as well as themselves then you probably did not find a good mentor. 

There will always be a bit of negative outcry and complaints. You can't please everyone and most honestly are not real buyers. Good agent work very hard but they do are not sure who will really buy leaving them with uncounted hours of unpaid work. Sure anyone would want an agent that will do allot of work for them but people do not reason that they should pay an agent. An agent should be allowed to bill hours just like attorneys do whether they win a case or lose it they get paid. Real estate agents only get paid of someone buys a property they are representing or when you buy having them act as your buyer's agent. Believe me its a thankless job and I would venture to say most agents work countless unpaid hours. Sooner or later they start to deny services if they feel someone is not going to pay meaning not going to buy a property. Get in you car and do you own running around, do your own due diligence and your own pricing and when you get serious about buying then get the real estate agent involved. Most people want allot more for an agent then they are willing to pay for. 

10 years from now you will have 4 buildings empty although one you will be half started on one. Buy one good home and rent it that way for 10 years you will have some income and realized some value. 

$1,200,000.00 House requires a total rehab maybe between an additional $700,000.00 to $900,000.00. 50 people showed up to the first open house, 30 offers, 5 offers above asking price. Winner offered $1,780.000.00 ????????? in San Francisco. 

Chicago, good neighborhood 20,000 sq ft. Home for $675,000.00 

which one would you choose? 

Even if you meant to say a $3,000,000.00 dollar apartment those you would not buy for an investment unless you were already very very successful and had plenty of time to wait until they appreciated but just think of the cost to hold, property taxes etc. Most people that buy a $3,000,000.00 dollar apartment do so to live in it but if you meant a $3,000,000.00 apartment building then you would evaluate it the same as you would any other building. All apartment buildings and multi-family buildings w/5+ units are evaluated pretty much the same. There is already plenty on that here in BiggerPockets just research in the learn or learning section. 

I think you must mean a $300 Million dollar apartment sky rise building. I cannot think you really mean a single apartment for $300 Million. Heck most medium shy rises are $30 Million for the entire building. Some medium shy rise buildings even expensive ones are only $130 Million for the entire building but $300 Million? Where is this building?

Fred, 

I see you are a Pro Member. You most certainly can offer your service in the Market place. you can pitch your deals offer whatever but just not on the open forums , that is my understanding. So if you go to the Market place I am sure you will be able to post what you are asking about. 

I will tell you that if you can't make a start of it in Chicago maybe you will not in any other place. Why? because Chicago has one of the most diversified markets around from the very low end to the very high end and everything in between. There are many many ways and you can probably put each and everyone of those to practice in Chicagoland. If you picked the right properties to experiment with you can even afford to go broke once or twice in Chicago and still be able to start up again and make it. There are REIA up the Ying Yang, Investors and lenders of all times. People you can partner with, join forces with or simply learn from. Small money deals and large money deals and like I said everything in between as well. There are tax lien sales, tax deeds, foerclosures, REOs, tear downs, rehabs, whole portfolios for sale, single family, multi-family, apartments, condos, commercial, new developments, just all kinds of different properties and just as many ways to invest that are real estate related.

You must have from 20% to 25% of the money required for purchase and rehab of a project. Can be for single family, multi-family, apartment buildings or mixed use. No strictly commercial or industrial properties and absolutely no undeveloped land deals. We are seeking long term relationships and partnerships. We currently have an inventory of single family and multi-family properties under ownership and management. We provide project management for all the projects we invest in unless you can prove you have experience. This is not an offer of loans, there are no loans involved, strictly joint venture equity share and the split is according to the percentage you put into the deal(s). We look to an exit strategy of sale of all the project properties. All other exist strategies to be discussed, negotiated and settled upon before we initiate our investment in any project. We will sign a NDA for any deal brought to us of which we were not already aware through any form of public access or proprietary sources. 

Note: You must show you need our participation. If you are found to be financially well healed enough to not need us as a joint venture partner you will be denied our participation.