All Forum Posts by: Jordas Reyes

I think the vinyl planks will good a good option! In process of putting them Down in a break room where I work. With the traffic and spills it gets I feel confident in them. I got them at Home Depot. In my current home we just put in laminate and they look great. For the money I think it was a great buy. Best of luck!

Of the five you listed I have read the first two. Really great books. I'm in the middle of listening to the audio book of e-myth. Also a great book. Most people on the podcast say rich dad poor dad was the book that inspired them the most and not to be cliche but that book is what got me to get more involved in bigger pockets and working on my knowledge of real estate. I have been lucky to make a good income from my day job and only regret all the years I wasted of not making the money work best for me. Now I feel like my money will play a better role in my investing career. Best of luck!!! I'll eventually get to the other books you listed.

So here's my quick math (about to pass out hope I got it right) Rent income per month $2475 20% down puts you out of pocket $65k (rounded up) Based on 4% rate over 30 years your looking at mortgage around $1,217 for P&I add tax and home insurance let's say roughly another $400 a month ( I have no idea what this real number is in your area) Vacancy I would want 8.3% or $205 a month. Capex at 10% $247 a month. PM 10% $247 a month. Not sure what this cost is in your area or if self managing but I'd still include this fee. So total expense at $2,316 leaving you $159 in cash flow. Cash on cash return is low but depends on what your looking for long term. Is the rent below market?? If you could get closer to 1% rule would be nice. Best of luck and hope you get some seasoned folks to respond but that was my take on it.

Cash on cash return to me looks good at 16% if that's cash flow after all expenses. Now time to save some pennies or get creative on the next deal. Best of luck!

Jonathan Blandino Hey sorry I don't have the answer your looking for but your post made me curious. Why did so many people suggest becoming mortgage broker to you. I'm assuming the obvious stuff like understanding the lending side. I took am thinking of career change to be around real estate full time just never considered it from mortgage broker side. Best of luck

Levi Painter I have gone back and forth about the same thing and have read countless post on here. The pros and cons pretty much are the same thing across every post. I decided that it will benefit me for many reasons but a couple that matter the most to me is putting in offers and looking at house on my own time, mls access to do my own comps, and most importantly I want to become a brokerage firm a few years out. So in my case it's a must plus I doubt I will ever say.." Man I wish I never got my license". I could be wrong though. Best of luck.

Someone above mentioned the book on low to no money down. I'm about done with it and provides some strategies for you to consider. Just have to find the right deal and what works best in your area. The key is finding the deal.

Hey Jeff Beckles I'm about half way through the book by Brandon turner about investing with low to no money down and if you have not read it I think it might be of use to you. I personally do plan on using hard money at the start. More expensive but if I can market for the right deals I'm in good good shape to make the lender and myself some money but more more importantly build a track record. Hope that helps. Best of luck!!

@Justin Schaffer 

welcome to bigger pockets. You came to the right place to grow your network and knowledge. I too am in the beginning stage and have found this site to be my one stop shop for info. Like Billy said I am in the Naples area but will be investing in different neighborhoods across Lee and collier county. Not being in the real estate industry in my day job I am working hard on building my network. I'll reach out to you on a PM.

Jordas

My opinion... I personally would not mix and match but if I did I would make sure the handles are close if not the same. My job is in a big box retail store and I try to work with investors when I get them on display/open box deals. Many times they are in great shape and can get an even better price.