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All Forum Posts by: Gil Estupinan

Gil Estupinan has started 4 posts and replied 38 times.

Thanks @Dana Whicker @Brandon Hall @Andrew Jech !!

@Franklin Romine 

I have been investing for some time but not until about 3 years ago did I start to step it up.  I wish I would have started at a younger age but raising 4 kids kind of slowed me down. :)

I am planning on finishing strong and taking it to the next level from here on out and the thought of leaving a bigger legacy for my kids/future grandkids puts a smile on my face!

Best of luck!

Gil

Post: I am new to biggerpockets

Gil EstupinanPosted
  • Investor
  • Trabuco Canyon, CA
  • Posts 40
  • Votes 35

@Stephanie Musser

Welcome Stephanie,

So much to learn about real estate investing, but you are in the right place!

Feel free to reach out in the forums when you have questions, and as Chris mentioned, listen to the podcasts!!

All the best,

Gil

It was 1961 when a very perceptive Cuban decided to leave his home as he saw the communist writing on the wall with the new government.  With a wife and baby to support, this amazing man left everything...wealth, parents, siblings, all that he had known) for the promise of the American dream.  Once in the U.S. he took whatever jobs he could get and usually worked almost around the clock.  Mowing lawns, cleaning toilets...whatever he could find.  He saved every penny he made and slowly better jobs came along and in the late 60s he was able to "House Hack" (thanks @Brandon Turner :)) his way into a Tri-plex. Next came a 7 unit Multi-Family which 6 of us "Hacked" into a two bedroom apartment. He was also able to purchase a SFR that I grew up in.

The net of all this hard work is three paid off cash-generating machines!!  

My dad passed away last year and I miss him greatly, but his actions have created an amazing legacy for his wife, children and grandchildren that will endure for many years to come!

Thanks Dad and thanks BP!!

Post: Newbie Investor in OKC!

Gil EstupinanPosted
  • Investor
  • Trabuco Canyon, CA
  • Posts 40
  • Votes 35

Welcome aboard Andrew!!

BP is an incredible tool for learning and networking.  Be sure to click on the "Learn" tab and use the Keyword Alerts to stay on top of your areas of interest.

Best of luck on hitting your goals!!

Gil

Post: Why Real Estate?

Gil EstupinanPosted
  • Investor
  • Trabuco Canyon, CA
  • Posts 40
  • Votes 35

Great question @Jonathan Twombly!!

I've latched on to the IDEAL acronym when thinking about the "why" REI question.

I = Income (cash flow)

D= Depreciation 

E= Equity

A= Appreciation

L= Leverage

I've seen this model work beautifully for my father and I'm looking to take it to the next level.  The fact that you have "knobs" to turn as you adjust to changes in the economy is very comforting vs. many other asset classes.

Best of luck!

Gil

Post: New Real Estate Investor

Gil EstupinanPosted
  • Investor
  • Trabuco Canyon, CA
  • Posts 40
  • Votes 35

Hey @Monique Correia

I live in South Orange County. 

I've had some ups and downs on underlying property value of the Austin house, but since I'm a long-term buy/hold guy, it really hasn't had any kind of impact on me.  I've luckily had the same tenant for the entire 8 years that I've owned it. :)

Hoping to close quickly on the Dallas property and working on a 4-plex in San Antonio right now as well.  I love Texas!!

Let's keep in touch and see how we can help each other!

Gil

Post: Feedback on Turn Key RE Companies

Gil EstupinanPosted
  • Investor
  • Trabuco Canyon, CA
  • Posts 40
  • Votes 35

Hi Joe,

I've met and have been working with Marco at Norada for a few weeks and I've been very impressed thus far.  He is very sharp and very connected.  I'm hoping to close on my first deal with Marco soon.

You can check out his podcast as well...they are well done.  Check him out at "Passive Real Estate Investing".

Thanks,

Gil

Post: New Real Estate Investor

Gil EstupinanPosted
  • Investor
  • Trabuco Canyon, CA
  • Posts 40
  • Votes 35

@Monique Correia

Welcome Alex!!

I live in California and have owned a rental in Austin for 9 years.  Just started the process of buying a rental in Dallas.  Sounds to me like you're moving to the right area for Real Estate Investing!!  Lots of growth in Texas (and they have In-N-Out Burger now!!)

Best of luck!!

Gil

Post: Estimating Property Taxes in Texas

Gil EstupinanPosted
  • Investor
  • Trabuco Canyon, CA
  • Posts 40
  • Votes 35

Thanks so much @Greg H. @Travis Lloyd  &  @James Eng

Your inputs were extremely helpful.  This is very different from what I'm used to in California.  I really appreciate the insight!!!

THANKS!

Gil

Post: Estimating Property Taxes in Texas

Gil EstupinanPosted
  • Investor
  • Trabuco Canyon, CA
  • Posts 40
  • Votes 35

Hey Bigger Pockets!!

Looking at purchasing a turnkey property in Rowlett Texas and I was wondering how best to estimate property taxes from my analysis. 

Example:  If the historical assessed price of the property is $100K and the purchase price is $150K would should I use as the post purchase assessment value? 

I guess as a worst case scenario I can use the tax percentage from the county records and multiply that against the purchase price...but I'm being told that is not how it works in Texas.  

Any insight would be greatly appreciated.

Thanks!

Gil