All Forum Posts by: Juan Carlos Gastelum

Hello Robert.  Short answer, No.  You do not have to supply a lease in Spanish.  However, having said this, it could make a good business practice to have a one page term-sheet in Spanish that outlines the main items on your lease; you can include language to the effect that it is only for informational purposes and that tenant is advised to consult with legal counsel prior to signing the lease.  Hope this helps.  Best wishes on your real estate journey, and God bless!

Hello Jacob.  From my experience investing in a majority Spanish-speaking market in South Texas, I believe bringing in someone fluent in Spanish is great asset.  If the person is also culturally aware and competent i think you´ll knock it out the park.  The U.S.-latin americans are as loyal of a group as you can find.  This said, please listen to the advice of Charlie MacPherson; seems to me you could get through this hurdle by paying someone on a fee basis.  Best wishes on your real estate journey and God bless!

Hello Philippe.  Seems like this project is more of life-style business.   I believe books and online courses will not be sufficient to learn the ropes.  Please listen to the advice from Mike and Rick above and surround yourself with an experienced team before raising or investing any capital on this.  Food for thought.  Best wishes on your real estate journey and God bless!

Congratulations!  Great example on how to better serve your community.  Best wishes on your real estate journey and God bless!

Hello everyone.  Just a short note on Mexican realtors.  There is no central regulatory board with realtor oversight in Mexico.  The best attempt on this comes from the private sector through AMPI (Asociación Mexicana de Profesionales Inmobiliarios, A.C. or Mexican Association of Real Estate Professionals); this is a long standing multi-chapter non-profit civil association that has pressured for licensing requirements for years.  To no avail.  Agents, realtors, appraisers, mortgage-lenders, and many more can join AMPI.  AMPI in turn offers many perks for their paying members; including courses and certifications.  For newbies in Mexico your best bet is to get the assistance of a well known real estate firm, (i.e. KW, Century 21, and Remax, to name a few) coupled with a reputable real estate attorney.  I would strongly emphasize this if buying into communal property (i.e. ejido) or through trusts (fideicomisos).  Tip:  When doing title searches, go back at least 20 years.  Best wishes on your real estate journey, and God bless!

David Greene did a great job at telling the BP Podcast community whats coming in 2022 and what we can expect.  If you haven´t please go listen to show 552.

Hello Martin.  You may like this one: Meeting Link: MightyMeetup.net  Best wishes on your real estate jorney!

Hi Alex.  If this is your first investment, please, at least, do the following:  first and foremost, make sure you understand the Indianapolis market.  You can search on city-data.com or pull out a market/submarket report from Neighborhoodscout.com (it will cost around $30) Second, make sure you run your numbers thoroughly to validate that you can reach your desired financial metrics.  You can use the BP rental calculator: https://www.biggerpockets.com/.... Assess getting a fixed rate on a long term loan, with no penalty for prepayment or, in lieu, a step-down method penalty prepayment (try to stay away from yield maintnenance). Ask the agent for the Rent Roll, T12 (trailing 12 months of expenditures and income), copies of the leases and estoppel certificates, current photos and video and make your offer subject to an inspection report (the bank will add another filter by ordering an appraisal). Again, make sure you are being thorough (trust by verify). Hope this helps. Best wishes on your real estate journey!

Hello Yuting.  Credit scores are a metric in virtually all screening systems.  If you´re using a professional screener or a property manager most likely they will get reviewed.  However, if you are self-managing you may have your own set of criteria which may exclude credit scores.  No suggesting it though.  I am currently self managing apartments in Edinburg, Tx. and still do a full screening.  The RGV has a dense hispanic population, and while some may not have credit records, it has proven to be a very loyal and complying market.  Hope this helps and best wishes on your real estate journey!

Hi Alex.  I believe its through one of these links on the member blogs:

https://www.biggerpockets.com/...

https://www.biggerpockets.com/member-blogs/14036-glossary-in-spanish-glosario-en-espa-ol

Best,