All Forum Posts by: Javier Rosales

@Victor S. The seller is a trust. It’s hard getting the rent rolls from them. But I didn’t see any eviction signs on both times I went to the property for inspection

@Tesho Akindele, it need work. But the work it needs is all cosmetic and some felty tenants. But all in all. No major problems. The roof from the attic was impressive being a 1967 built home. Just out of my comfort zone now. But it’s looking good numbers and all

@Tina Tsysh yea, I've talked about with some friends that are also investors. I just gotta follow through with it. And trust the data and numbers. And not get emotional about it. Worst case scenario. If a tenant cantpay, evicte. And rehab and set market rents. I could get 10% CoC ROI with market rents. As is I'll get 8% CoC ROI. But I'm just scared of the unknown.

Hey BP. I’ve had this triplex in escrow for about 4 weeks now. Walk through was good. Inspection report was good, and I was present for it. No major stuff of the property. Everything seems to be running smooth. Only thing is seller is a trust. And not getting much out of them about the property. But other than that. I have no reason to back out of this deal. It will be my first one. And now I’m getting kinda scared

@Salvatore Lentini the competition

Hello BP, I’m looking to bid on a home at an Auction.

Home is a 3bed 3bath opening bid is 127,000

First lien is at 506,800

Second lien 63,400

The second lien is being foreclosed on.

And the buyer is responsible for first lien.

Does that mean the buyer takes over the first lien subject too?

I would appreciate any feed back

I too had a goal to purchase my Small multifamily. I had gotten a triplex in escrow at list price, off of Redfin. Once I began my due diligence, the home inspector @Gene Hacker found lots of problems. That with the walk through, I couldn’t see.

The Triplex needed a new roof, moisture in the foundation, Caribbean termites and damage from them. I hired the two specific contractors and a pest control company. I got the quote’s. I subtracted the repairs cost from the list price, and the agent submit my price reduction. Or seller fix repair, seller rejected.

So I agree, buy no deal is better coming out losing as soon as you close. I mean it was in a c neighborhood. But still no lead is worth a slow slope. But I’m still searching. 

@Victor S. The price of food and gas going up is due to a shortage of consuming and usage. Less consumers is what’s driving the inflation up. I think it’s a temporary inflation. But from these mark ups, it will set the future demographics. But you are right and it’s good intel their.

@Chace Corbett I asked my mortgage lender about 203k loans. And got. Not at this time. So yea. Your not the only one

@Vince Rodriguez any meetups in December, I would like to be their.