All Forum Posts by: JJ GONZALEZ II

Marc I would appreciate you sharing her name

JJ

We are looking to move out of multi family and into Mobile Home Park investing.  The search for a qualified partner has begun.  If you have mobile home park experience but might need a partner to close on your next deal reach out to us.  If you know of a deal but lack the funding reach out to us.

Regards JJ

You don’t ask an easy question here. Is it a good deal THAT DEPENDS ON ALOT OF FACTORS.  How much down are you putting (what percentage) we have to assume there is no maintenance required since it’s a brand new building.  What are the taxes.  What will the costs be going forward.  Do the tenants pay their own utilities (gas and electric) who pays for the water.  What type of mortgage can you get.

JJ

Chris, loopnet is normally ‘WHERE DEALS TO TO DIE” Brokers put them on loopnet when they exhausted all other possibilities.  I have heard that people have gotten some really great deals from that site.  I have not found anything I was able to bring home, but good luck with this.

I would suggest that you search the property on other sites to see how long it has been sitting, it’s not uncommon to have a property listed on loopnet that has been for sale for a year.

Good luck

JJ

You might want to join a syndication as a limited partner and get your feet wet.  Going into a deal with an experienced multi family syndicator will increase your chances of being successful (make money) as opposed to the opposite (losing money).  Some deals will allow you in with only 50,000 but if you have no money I am not sure how you get involved.  Perhaps you take the deal to a larger player and get a referral fee

I have invested in 6 syndications with 3 different general partners over the past 2.5 years. You must read the fine print and understand the splits. An 8% preferred is nice, but upon sale if the sponsor is taking 50% of the profits, plus they get 2% acquisition fee, 2% disposition fee 1% management fee and half of the profits your IRR will be lower. It doesn't mean you shouldnt invest with them it simply means they have to perform well for you to make your 20%. In the 6 deals 2 are with larger firms and 4 are with a smaller firm. Two in Houston 4 in the Dayton ohio area. All are c class repositioning plays.

5 of the 6 have been great at the end of the quarter the smallest operator has a check in my mailbox within 10 days, and I am doing this for the cash flow primarily.  So at the end of the day read the docs carefully, ask some questions and ask the sponsor to give you the names of a few people that have invested with them and ask what their opinion is.  But make sure it’s a deal that is a few years old.  Don’t call someone who just invested last week.

JJ

Has anyone invested with Diamond Equity Investors before. Specifically in hard money loans

Vionca. Can you pm me regarding wholesale properties you have in suffolk, particularly bayshore, east islip islip or babylon

Thanks JJ

Home Depot offers 24 months and12 months zero % interest.  I just charged $45,000 to do hurricane windows and doors on a rental in bonita springs fl and they game me 24 months zero interest

JJ

Maritsa,  welcome back to the USA the greatest country in the world.  I am sitting here with my $10.00 Casio calculator and I suggest you try the same exercise.  Start with the $10,000 a month you want and then figure ok I have run the numbers on this duplex or triplex or quadplex and I expect to get about $$$$$ per month in positive cash flow.  If you assume $200 per door which is a very nice number you NEED 50 doors.  You never mention how much cash you have to invest.  Let’s assume that you buy 12 quads and each one costs 300,000 that would be $3,600,000 with 20% down you need how much to accomplish this

Drum roll please

$720,000 plus some money for emergencies and cap ex.  I am not trying to discourage you I am simply trying to point out that unless you are starting out with a lot of cash getting to $10,000 a month within a year doesn’t seem likely.

Good Luck, and keep us posted

JJ