All Forum Posts by: Gilda L. Sauceda

@Nicholas Hyde

Thank you for your feedback, this is along the lines of what i'm working towards. I've got 2 lenders i'm pre-approved with and two agents that are helping me in some sort. Do you have any connections with new constructions around 350-400k preferably? or with agents with investment experience. I'm looking in the harlingen area and i understand it's a growing area as well, these new constructions i'm inquiring about are also taking 6-8months to build and are rents are going for 1000-1200 monthly. I'm currently researching the contracting company and builders. Your friend might of got discouraged with the extra risks that may come with investments but it's risky as well to never jump on assets for your future fortune. Happy Investing! that's wonderful for you, i hope you're proud and i also hope you find yourself a great next investment. 

@Leo R.

Wow! I think i would be tainted from real estate if that happened to me. However, it does happen and you have provided me with one of the bests insights. It's definitely a risk and i have an agent that isn't an expert in investments but i have another agent assisting me for questions and how to figure out if it's a deal worth taking as far as numbers. When it comes to inspection that's a whole different story. I don't want to rush into anything, but i also do know that i need to apply pressure in getting a good deal and i just hope i don't have to experience such loss for my first investment at least or ever i would hope. I do truly thank you and i also hope you have bounced back from this experience. There's so much to take in and it's scary and sometimes discouraging but i do want to understand the good, bad and ugly that comes with these decisions. I ask myself if im built to take these risks and i say YES but just hope i walk into something that will grow me and will help me build momentum to continue the journey. I hope to network a little more to get connected with more resources for my first investment. 

Sorry that reply was for @Teri Feeney Styers

i do feel that a new construction might be for me but i wanted more insight on what others would prefer as a beginner. I do know i can afford a new construction,..and what i dont know is if i can afford much renovation on older properties. Maybe when i have some momentum and profits i can afford renovations on my next one absolutely. & yes i'll be house hacking. Thank you for your advice.

@Nathan Gesner

You have made very good points. Thank you, i feel like it's a risky situation for me as a beginner but i hope to learn from any mistakes i may encounter. 

@Jon Kelly

I do agree, looking for some good appreciation and i think the profits will slowly come in if i do it right. Hoping to close on something that is beneficial for me. I'm also thinking long term 15-20years. 

@Scott E.

I live in South Texas right by the border and many towns in my region are growing and rents are increasing with every year that passes by. I found a 4plex for 395k new construction. Trying to get the numbers correct but i may not see profits at least the first year until i move out. However, i may be wrong...Looking to get a more accurate report once i get all the deets on it. I figured a property that's older would work but i do know i have to put in money in renovations to increase rents. Which is fine but not to knowledgeable on the contractor side...i know i will learn tho. Hopefully i can come across an older property that great! haven't made my mind up yettt. Thank you scott. 

@Scott E.

This is what I do agree on. Initially I showed the agent (investor himself) a property I was potentially interested in that might of needed about 10K in renovations which I could afford.., but then recommended a new construction so I let the deal go for now. It’s a duplex and has lots of potential to add value and raise rents 

Hi Everyone!

I'm a beginner and would like to know if you think a new 4PLEX construction (House Hacking) is better for the beginner rather than an established older property?

I spoke to someone that advised me that there's pros and cons to a new construction and older property of course. However, for a beginner it's recommended a new construction in an upcoming location. 

The rationale to his advice was to avoid extra expenses that come with renovating as a newbie and the minimal complaints I'll experience from tenants if i have a newer property. Also, some warranties that a new construction may come with that will be covered in the first 1-5 years, depending on what issues that is. 

I want to get feedback from other people. 

New construction price range is higher but has a better ROI in a growing location as I been told. I'm wondering if this may be true in some aspects?

Thoughts? Thank you!

@Nicholas Sanchez

That's a good start! I'm in the works still.... I'm definitely trying to work with someone with investment experience before jumping in. Hoping by the end of the summer or before the fall...i can lock something down. I'm excited but nervous as hellll lol.