All Forum Posts by: JR Rivas

Hello, 

I am looking to close on my first property and I just got the paperwork to sign from the lender & the closing costs are about 10% of purchase price(not loan amount). 

I know typically the closing costs are a lot lower. 

What do guys think?

Purchase price: 80k

Loan amount: 60k

Total closing costs: $8,599

Hello! 

After searching for the key word "Tallahassee" in here, I noticed there hasn't been any posts from anyone in TLH in awhile. Also open to connecting with individuals from thomasville, GA and Cairo GA. 

Looking to connect with...

SELLERS! 

General Contractors/Handymen 

FHA 203k approved contractors

Realtors who love investors

Property managers

Other investors

Thanks! 

I have a few connections in the area so I'd like to lead with value, reach out and let me know what you need!

Hey all,

Pretty new to investing. Have about 125k i’m looking to deploy in real estate. My goal is to build 6k/month in cashflow as soon as possible.

I have a few questions...

1. Would you consider now a bad time to invest with the current condition of the market & prices skyrocketing?

2. Given my goal should I look to multi-units homes? Or look for partners to buy an apartment building? Or something else?

Also, what are some if the best resources to become knowledgeable on markets, building materials, basic RE stuff etc.

Thanks!

Hey guys! Looking into building some lower income apartments. Maybe 10 units or so. My question is this... How would the bank determine the value of the complex once it has been fully rented for a year? Lets say for arguements sake the NOI is $38,400. And the GSI is $72,000. Lets say we build this and after a year want to refinance. We’re trying to plan and determine how much we’d be able to pull out. Let me know if you have any further questions or anything else we should consider. Thanks!

Didn't think this thread would blow up like it has...

Thanks everyone for the advice!

@Patrick Bawer i think as a courtesy you should do it for them this time. But next time institute a $25 fee in the lease.

@Courtney Jones yeah my bank wont do under 30 i believe. I’ve asked about that

@Kevin Martin i’ve started pulling up to job sites and just chatting it up with a few. I think I just need to ask around some more and meet more people at the end of the day.

Hey all! I’m a relatively new investor & I was talking to some buddies and they basically told me to avoid single family like the plague because if one person leaves you’re at 100% vacancy. What do you guys think? I’ve also hear grant cardone say this & also say don’t shop for real estate based on your budget. I have about 30k i’m comfortable investing eith right now. My area is relatively cheap so I can buy a single family for 45k. 20% down and rent it for $700-$800. Any suggestions would be great.

Hey guys, Looking into doing some rehabs and I want to find a GC to partner with. Times are good for GC’s so they seem to have plenty of work in my area. How can I go about finding someone to help me do small rehabs? I put up the money and find the deal, they do the work. Also what split do you recommend for something like this? Thanks!!