All Forum Posts by: James Maglio

Hello all,

What can I do to help you in your real estate business?

I am here to volunteer my time to an experienced Multi-Family apartment investor.  I am 39 living in the Orlando area but I am also willing to perform tasks virtually as well.  Currently I work two jobs and would like to volunteer 5-10 hrs a week to an investor performing any tasks necessary in order to help the investor through the process of finding a deal or through the deal itself.

I went through one real estate deal in my life and it did not go very well.  We all learn from our experiences, and that will be the last time I purchase a property that does not have positive cash flow.  The excitement of having some money in my 20's led to a poor decision and a complete money pit.  My long term goal is to leave my two jobs and become a full time investor.  I believe with some hard work and proper mentoring, we can achieve this goal in five years.  I have done the basic math on the numbers and I believe having control or owning 100 units, and I can leave those jobs in the dust.

What can I do to help you with your deals?  I have 15 plus years experience in the construction industry and also have some experience in sales. I also am getting pretty savvy connecting with professionals on Linkedin.  Finding a good deal and marketing is the hardest part of the process. This is what I need to learn. I really believe that.  Find the deal and the rest will take care of itself (of course having a good mentor by your side surely would be helpful).

So if there is an experienced multi-family investor out there would would like to give back to an aspiring investor in exchange for some elbow grease, I would love to talk a little further about how I can be of service to you.  If so, private message me and I'll set us up something on the calendar.

Thank you,

James Maglio

Any experienced wholesalers or re-habers out there working in Florida that have a good grasp of whether a real estate license is required to wholesale a property?

Hello, 

I have a question on preparing scope of work for prospective house fix n flip projects.  I know an overall scope of work is needed if I'm planning on hiring a GC to handle the project for me.  On the other hand If I decide to GC the project myself I am debating back and forth as to use the same overall scope of work to hand out to the individual subs or create several specific SOW for the individual trades in order to bid the work.  Any advice out there on this matter would be appreciated.

Thank you, 

James

Yes, but with a mortgage, even though it is not technically a sale, a lease could trigger a due on sale clause that is written into most mortgages.  That is why I was thinking a free and clear property with an owner who is tired of dealing with tenants and property management companies but still would be happy with a check every month taking a little less cash flow in return for not having to deal with the daily headaches.

Hello,

Looking for a pro out there that can give some advice.  I have limited cash funds right now and have been reading a lot about master lease options.  On the face it looks like another one of those strategies that so called real estate experts are just trying to make a buck on.  But other parts do seem to make sense.  My take is that these deals can only work if the property is free and clear or darn near close to it.  To me any property carrying a mortgage would be very difficult to put under a lease option.  Let me know if I'm the right track here and any advice would be greatly appreciated.

Thank you,

James

Hey Brett, I want to focus on small apartments, buy and hold and flip, whatever situation works best.  my goal is monthly cash flow, so eventually I can do this full time.  im am cash strapped right now being in between work which is one of the reasons why eventually I want own enough units to permanently take myself out of the job market.  I think a master lease option may be the best strategy for me right now, but I also feel I need a little more reserve cash first.

I want to get started in real estate investing.  I have read countless books and now need to take some action.  Look forward to speaking with some of you and trading some knowledge together.

JJ