All Forum Posts by: Jorge Rubio

Why get excited about selling real estate at high price in this seller's market, if appraisals will come in lower than the agreed sales price? Anyone encountering this more often this past year than before? Seems like appraisals are putting these overpriced houses back to reality.

I used to attend these 2 REI groups in El Paso but looks like they stopped meeting after Covid. You can reach out to them in the meetup groups below.

Check out EPIC Real Estate Investors Association https://meetu.ps/c/cz6r/KF8Ng/d on Meetup

Check out Quick Sell https://meetu.ps/c/2CSHt/KF8Ng/d on Meetup

Just want to hear investors' thoughts on investing in new construction for rentals. Has anyone had success going this route? Is it even possible to get good deals on new construction and cash flow?

@Caroline C. Can you use HELOCs to make cash offers on properties and then refinance them with a regular mortgage?

@Stephen Kehoe Yes those cost estimates would be very useful, especially for the move-out inspection to easily calculate how much will be withheld from security deposit.

@Joe Splitrock Good point. It's those grey areas that can be tricky. I like the idea of giving the tenant the benefit of the doubt to avoid conflict, however, how would you handle a situation where things keep "breaking on their own" with a particular tenant?

One of the main points of contention between tenants and landlords is whose responsibilty it is to pay certain repairs. While most leases have a section related to this, I find that they are very generic and therefore open to misinterpretation. To avoid this, I would like to see what other landlords are doing. For example, is anyone including some sort of checklist as part of their lease that states each specific issue, who pays, and cost for common repairs like clogged drains or garbage disposals.

@Ashwin Kumar Thanks for the input. I do recall receiving a bunch of calls/texts from them which should have been the first big red flag. Not a good experience with Lending Tree. It's best to contact banks and credit unions directly.

Is there anyone in El Paso, TX that has successfully executed the BRRRR strategy and is willing to walk me through it? I have been saving cash to execute this strategy later this year to hopefully scale my rental portfolio faster.

@Nick Ferrari Don't get too caught up on the interest rate. I would research closing costs as well. A lender can give you a lower interest rate, however, their closing costs can be higher.