All Forum Posts by: Hermilo Garcia

Hello everyone,

I am new to real estate investing, and have been reading some of Robert Kiyosaki's books on investing.

For real estate, he says he follows the 100 to 10 to 3 to 1 method. He looks at 100 properties, makes offers on 10 of them, gets 3 of them accepted, and purchases 1 property.

What do you guys think about the system he uses? How do you guys go about viewing and buying properties?

Best,

Hermilo

@Nate Garrett

Thank you so much for your advice. I really aprreciate your help. I will definitely start working on the steps you have highlighted. Much luck to you!

@Jeremy Pace

I appreciate you help! Thank you very much.

@Page Huyette

WOW! Thank you very much Page. I really appreciate you taking the time to send me these links. Best of luck! 

@Peter Mckernan

Most definitely. I have heard that it can be a difficult career at times, but I think It can also be professionally rewarding, and it can help me in my future real estate investing. Thank you so much for your help!

Hello Everyone,

I am a BP member from California wanting to become a property manager. Do any of you have any tips on how I can get into this field? 

I know that a real estate license is usually required, and many companies want people with previous experience. Unfortunately, that is where I come up short.

I have applied to a few companies, but they are not willing to hire, because I do not have any experience.

So, it is somewhat hard to get experience when companies are not willing to give you an opportunity to gain it. 

Any tips would be really appreciated. Have a great day.

-Hermilo

@Steve Olafson

 I see. Thank you very much for your help. I really appreciate it! Good luck in you endeavours.

@Mark Payne

Thank you very much! I guess it all depends on the lender. I will definitely keep looking, and hope to come in contact with some soon. 

If I may, do you lend to investors who are trying to buy and hold?

If so, can you give me an example of what you would base your decision on to lend money for a rental property? 

Thanks!

@Bruce May

I understand. Thank you very much! 

@Bruce May

 Hello, and thank you for your response. Do you think you could do me the favor of explaining how your previous deals with hard money lenders have happened? Do they usually expext you to pay within a few years, or can some lenders allow you to pay back your loan in the span of 20 or 30 years? I really appreciate your help.

Hello friends,

I have a question about private and hard money lenders. I have heard that usually these type of lenders tend to lend money mainly for flips or rehabs. Is that true? Do they ever lend for investors who want to buy and hold?

If so,

Can someone give their experience on how they got these types of money to purchase rentals?

Thank you very much! I appreciate it.

-Hermilo

@Account Closed Thank you for your response. Since I am very new to real estate investing, can I get some advice on how to find an agent that will help me find good deals? I have heard a lot of negative things from others who claim that a lot of real estate agents will tell you anything to get you to buy a property (whether is a good deal or not) so they can get their comission.

@David Epstein

Thank you very much for your response. I am still very new to real estate, so I am not fully sure about the ROI. If I was to buy the property, I would like good cash flow of course. From some of the figures that I saw, the CAP rate is 11.18%. I have heard that a cap rate above 7% is good. What do you think of that?

I definitely plan to drive around the neighborhood and take a look at the property. I am not fully familiar with the market in Sacramento, CA, but I am trying to learn at the moment. 

Thank you once again for your response.

Hello Everyone!

I was looking through LoopNet.com for a multi-unit property, but like most listings online, it does not give all the figures for me to put in the BP rental property calculator.

I was wondering how you guys find that information out in order to analyze the property, and find if it's a good deal. Do you contact the real estate agent or broker to ask for that information? Do they give it out for free?

I appreciate all responses.

Have a great day!

@Max Fisher Thank you very much Max for you advice. I really appreciate it! I am definitely looking to getting to know hard money lenders and learn more about how to use Other Peoples' Money to finance my deals. Thanks once again.

@Tony Gonzalez

 Hey Tony. Thank you for your advice. Right now I find myself reading the  Ultimate Begginer's Guide to Real Estate Investing, as well as any other book that gives an introduction to Real Estate investing. I think I will have to get a second job to save some more cash, and am defintely willing to put the work to make this real estate venture a reality.

Thank you once again, and I wish you the best in your feature real estate endeavours! 

@Sergio Garcia

It is funny you mention that you were living with your in laws, because I am doing the same thing right now. I am living with my girlfriend's parents. An FHA loan is what seems more doable for me given my situation.

I see that you are from Florida. I lived there when I was younger, and am looking to move back there in a couple years. 

If I may ask,

are you focused on buying and holding properties?