All Forum Posts by: Josue Velney

Hi @Greg Devlin, the Springfield market has changed a bit. The 2/4 families cost more. Personally I have been selling more than buying. I am still keeping the 16 unit and the two 6 units. I like cash flow to much to sell everything. The bigger units are easier to manage. I will have a two family on the market in February or March. PM me if you want more Information. I will see you at the top my friend. 

@Avery Heilbron the struggle is real my friend! I agree with Ann, you need to start looking at off market properties. Start going to every meet up you can find. Make more real estate friends and learn their tricks. You should also tell everyone you meet what you are looking for. I mean everyone!! The guy at Starbucks knows what I do and what I am looking for. 

@Sunanda Nair everything you said is true. I enjoyed meeting new people and networking. I went to a few meetings. Jumped around from chapter to chapter. I decided not join because I could not commit the time they required every week. Great experience!

@Prabhjot Khinda according to my KPI it is costing our company 10k per deal (direct mail)  in the Boston market. We profited 49k off one deal this year. Direct mail is still alive and well. Direct mail is my short term play. My long term play is SEO. Before you know it more sellers will be on the internet. 

I am going to put this on my calendar!! 

@Philip Ganz I am usually the agent, investor and General contractor in my deals. I found by wearing all the hats I have more control. I always make sure everyone involved understand my position. Most of my partners bring the money and let me work my magic. I hope this helps.

@Account Closed, I believe it is always a good time to buy. The key is finding a great deal. Are you only looking on market? Maybe should trying looking off market too. Most of the deals I have found were off market. 

When it comes to investing, perspective is key. Is your cup half full or half empty? As of September 1st, I have a tenant living in one of my units rent free. The tenant refuses to leave and told me, if I want him gone to call my fancy lawyer. That is exactly what I did. I won the case due to the fact that the tenant is not paying rent and over stayed the lease. Unfortunately, the tenant appealed and asked for more time. The tenant came to court with a doctors note and basically said he is an elderly man. I am waiting to see if the judge will give me the execution. A friend said, "damn that sucks that guy is costing you a lot of money". I said, "I agree but this is just a cost of doing business". I have lost over 8k in rent and legal fees. The reason my cup is half full is for three reasons. first,  as a landlord you should always plan for an eviction. You should set aside money monthly. Second, due to the fact I currently manage over 40 units,  I don't have time to worry about one unit. This is why I hire great lawyers so I can focus on my portfolio. Third and final reason, I purchased this property in 2010 at 450k. This house could sell on the open market today for $1M and above. I also only put down $3k at the time of the purchase.   

@Chris Purcell That is a great question.... The reason why I don't do my own work as a GC is because I am also a real estate agent on top of that I have 39 units in my portfolio. On a per hour ratio it would not make financial sense for me to do my own work. The most important job I have right now is managing my portfolio and finding great investments to add to my portfolio. One of the reason I became a GC is to be able to control risk. I want to be able to speak their language. Correct when things are not done right. I can also pull my own permits and do the work myself if I do fire a GC and not lose time on the project.