All Forum Posts by: Javier D.

And if there is no records then you know reference was lying? Pbviously talk to a lawyer first though. Good luck!

Wouldnt there be some Sort of eviction documentation in clerk of courts from his previous eviction? Id just send him that and say no thanks good luck.

Rey Alvarado 50% of profit. He held title as assurance (i dont recommend this) but i trusted him. That aspect can be handled with an llc and should. I learned that lesson later on with a different joint venture.

I really enjoy reading all this. I'm new to this website and everyone's experience is appreciated. Am I being pessimistic in not accounting for appreciation when I look at a deal? I was taught after the crash to not speculate on what's going to happen tomorrow except worst case scenario. ;/ . I really don't see how values are going to go up more than 20% from where they are now especially with interest rates on the rise and the market being so good for so long(bound to correct eventually?) Am I just being a negative nancy?

Got a partner to put money for purchase. I put repair costs and did all the legwork (construction management, day to day stuff, went once a week and cleaned) and paid construction costs with my credit card :). Most important part was I brought the deal to the table which I made sure was a good deal. I would really hate if someone brought me something and I had to do the research only to see it isn't a good one. It would cause me to not take that person seriously. The deal is the important part. The money can be obtained through different avenues. Hard money lenders, a mentor,  that rich uncle, etc. 

Originally posted by @Allan Rosso:

I appreciate that. I know it's going to be a tough road, but I'll get there!

I'm actually looking to move to Jacksonville here in the next few months, as I transition out of the military. I was there a few weeks ago, and met with an agent I met here on BP.

I reread your original post, and interpreted that you wrote it because you feel like you've lost your way as far as achieving your short/long term goals:

Short term: successfully complete the deals you're currently working on

Long term: Reach $500K in passive income

And then you mention there's so many different avenues, you can't decide on one. Let me ask you this, as far as real estate investing, what have you been most successful doing? And what do you enjoy the most?

 Hey Allan,

I've been most successful focusing on SFR 3/2+. I've flipped a couple of 2/1s and condos here and there but I like to stay within starter home markets. I try to stay away from HOAs(sometimes they can be a headache). I've had the most fun on some easy flips (buy 60/70 cents on the dollar, lipstick on the pig and flip within 30 days). Those were the most exciting since they were easy I guess. I hate very low income flips as I get my stuff stolen lol or have to call the cops on addicts and homeless people. I try to stay under 300K ARV in my area which is what most buyers look for. Tax deeds were profitable but alot of sitting time with the lawyers and stuff. The high end or low end properties sometimes have too much stuff out of my control going on(sit on the market, theft, buyers backing out). As far as rentals, I have a property manager so I really don't deal with the day to day stuff on the rentals. I do love the passive income and seeing the direct deposits come in. I hate seeing my wife's credit card statement though :).

@Kenneth Mooney

1 I definetly agree that the paid off properties can give me more acquisitions if I leverage and ultimately more cashflow over time. I have a hard time balancing the though of leverage as most as you can vs pay them off and enjoy the high cash flow/peace of mind.

2 As far as markets go I'm sure there are better markets. This 2 % rule I keep seeing in BP is jaw dropping to me in my market. 1% here is a good find .

 3 I'm sure there are. I would never buy a property at market value even if it seems good. I like to look at it as a contingency on the market correcting itself, crashing , etc. Hate to be a pessimist but I am. 

I keep thinking I should get into a 24+ unit apartment building leveraged etc but down here there is so much competition that 4% cap is best you find for A/B properties and 5.5-6& cap for C properties (I don't have deep pockets to compete in that market). 

I'll keep my eyes open I suppose. I know I'm not scared to pull the trigger if I see a home run just hoping someone knows exactly where I'm at and how they moved forward whether organically or pushing through this situation. 

Originally posted by @Allan Rosso:

Javier D'Espaux first of all, it sounds like you've been very successful up until this point. I'm just getting started, and I hope to one day be where you are right now.

When you drove up to Jacksonville, did you have a contact there? We're you looking into something specific, or were you just kind of looking around?

I feel that if I was in your position now, I would be looking to execute a 1031 exchange

 Hi Allan,

Thank you! and good luck to you! You'll get there before you know it. 

I reached out to a few local brokers but 2 out of 3 sent and pushed their listings on me and the last one was very rude on the phone telling me his time was valuable lol. These were all just one phone call btw. So to answer your question-no I don't.  

I'd like to keep the properties I have now. I am open to maybe cashing out a couple to get more liquid if a great multifamily comes up. I still have enough liquid to work on a couple of deals. 

;/

Hey guys,

don't mean to hijack thread. I've been looking at Jacksonville from Miami as a potential location to find some nice buy and holds maybe flips and multifamily buy and hold. Are there any areas I should stay away from? I see good pricing close to downtown but I'm afraid I'm not familiar with the area. My brother in law lives in Ponta Vedra beach which seems like the high end side of Jax. I'm looking more for the best IRR/cashflow C or better type properties. Thanks .