All Forum Posts by: Jorge Aguilar

I'm starting the analysis of a multifamily in Houston that is being offered to me. I'm meeting the owner tomorrow to tour the property, get the story behind it and ask her for the proper information to help me calculate the NOI and eventually the cap rate for this property. They've been running this as a family business and very casually, I don't expect for her to have all the answers to my requests for information.

Property was built in 1999, however it is clear that needs repairs and tenants in this area are blue collar. I'm hoping to learn more after my visit, I'll keep you updated in an effort to make this analysis an educational tool for you BP'ers.

I'm familiar with the area  from a single family point of view, got rentals and flips done, however this is my first analysis of a multifamily and I plan to go by the book as much as I can.

My question is, what do I compare the cap rate to? What is the typical cap rate for a class C property in zip code 77022?

Any insight would be greatly appreciated.

Have a great day!

Thanks, Jorge

Hi, good morning. any good place to buy windows that you would recommend in Houston? (Besides Home Depot) Need 4 59x35 and 3 59x31. Thanks, your help is very appreciated.

Not sure if this post if valid, if not Admin please take it down. Thanks.

Thanks James for the welcome.

Thanks Doug for the comments. I did a little bit of bandit signs years ago and I have to acknowledge that I'm not a motivated bandit signer, letter sender or door knocker. I think I'll look to be added to some wholesalers distribution lists. If you know of any I would appreciate the reference. Thanks Doug.

In one of the BP threads I recently read this advice:

"Know how to find deals. If you find a deal that's not listed, you can flip to the holder crowd. Learn how to find off market deals. You won't have competition."

It stuck with me. So my question for you is, how do you find deals that are off the market?

If there's going to be another real estate recession, then we should be ready with cash to take advantage of another round cheap foreclosures and rent them long term.

Cash is always king. 

Thanks all for the warm welcome!

Hi, I'm Jorge Aguilar. Wanted to share a little bit of what we have done so far as a way of introduction. I have a day job, so does the wife. We are using real estate investment as a way to increase wealth in the long term.

We rented out the first house we bought, only to later on sell it to the tenants owners-financed. They refi'ed the loan after 2 years. Then, we were able to buy a foreclosure in cash, rehab it and we are currently renting it. We got a second foreclosure and applied the same formula, rehab it and then rent it. This time we used a hard money loan and then we did a refi to a conventional 30 year. For our next property we are looking to do a flip. We have used a trusted real estate agent for all these transactions and I can attest that his commission has been money well invested, to the last penny.

I'm exploring the possibility to use a personal line of credit or a HELOC to finance the couple of flips I would like to do, before adding more rentals to the portfolio. I would appreciate if you have any tips on using these finance vehicles or information on wholesalers and contractors with good references in the Houston area. Thanks!