All Forum Posts by: Jorge Ubalde

Ned Carey my bad on the non coherent english. I think I meant to ask who sets the rent. Thanks for the support!

That is outstanding! Its never too early to get kids hooked on finance type books, especially since our schools are not doing their share to teach our kids how to better understand money principles!!

Ned Carey that is exactly my gameplan...rent out as section 8 housing. I perused through gosection8.com and found a lot of nice, updated and modern properties available for section 8 housing. I have never worked a section 8 deal, any recommendations/suggestions? Who sers the tent? Section 8 or us landlords? What does it mean when it reads "no voucher necessary" on the section 8 listings? Do I still make the ultimate decision as to who will live in my unit?

M Marie M. Thanks for the positive note! Very much appreciated! My wife and I have 1 inv property in Miami, FL. We are also looking to get into the Jax, FL REI market in the next few months. Gotta keep that #hustle going!!!

Ned - I may have also underestimated my potential rent price point for that property. After doing some research online it looks like it can rent btwn $1200-$1300. Thanks again for taking time to comment on my post.

I appreciate you taking tine to answer my post. I plugged in the numbers to BP rental calculator and they seem strong. Cash-on-cash 23%, purchase cap rate of almost 11%, cash flowing $395/month after deducting expenses (vacancy, repairs, etc...) I am fairly new to investing which is why I was looking for suggestions/comments.

Hey everyone - im seriously considering picking up an inv property in 21229 near leakin park. Any particular experience investing in that area? According to realtor.com the properties comps are about $100.000. This property is selling for $74,000. Is this an up and coming area of Bmore? From a numbers perspective mortgage est $540 including escrow. Market rent is $1050 on the conservative side. Isthis something that makes sense?? Feedback is greatly appreciated.

Jose - whats up? Lets sit down for lunch and talk RE. Whats a good day for you this upcoming week?

Jeff - thanks for taking the time to respond to my post. So Im not the only one thinking putting all $45k in one investment is not the best strategy. :) One of my goals is to create a passive income of $1000/month and scale up to $7000/month in the next 4-5 years. Im looking at acquiring 2-3 properties this year, 3-6 year 2, 6-10 properties in year 3, 10-14 properties in year 4, 14-18 properties in year 5. Im not opposed to looking outside of Miami area as Im sure my dollars will work much harder for me outside of Miami RE market. Im not extremely knowledgeable with markets outside of my area here. I was leaning towards using private money to preserve my $45,000 to buy my parents house. I know theres enough equity to give private money lenders back their cash in near future. I have never used private money, do you have any references?

Hello everyone - I figured I bring this to the forum for some suggestions/recommendations. I recently got back into the REI arena, by refi my rental property here in Miami. I was able to cash out $45,000 and still have a CF of $400/month in ghat property. I am undecided as to how to best leverage the $45,000. One scenario - use private money (12-18 months) instead of using $45,000 to purchase my parents townhouse currently worth $190k, I would offer them $140,000 and while I wont make any money with my parents living in the house, the equity will give me the opportunity to withdraw funds in the next 12 months. Of note: the rental price point for a 3/2 townhouse in my parents neighborhood can go as high as $1800. This property would be a buy/hold for future gains. Scenario 2 - partner with another local investor and use half of $45,000 to pick up a multifamily as long as numbers make sense, allowing me to keep the other half of my $45,000 to do the same thing within the next 6-7 months. Scenario 3 - go all in and use 45,000 as a down payment on a SF or multifamily. Thoughts? Thanks in advance for taking the time to read my post.