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All Forum Posts by: Julian Rodriguez

Julian Rodriguez has started 3 posts and replied 7 times.

Post: BPOs for a New Agent

Julian RodriguezPosted
  • Real Estate Investor
  • Nutley, NJ
  • Posts 7
  • Votes 0

Hi Jared,

I am interested in doing BPO's.  Just curious if you continued to do them since this last post and if it will be worth it?

Post: NNN Lease Property Offer?

Julian RodriguezPosted
  • Real Estate Investor
  • Nutley, NJ
  • Posts 7
  • Votes 0

@Scott Wolf thank you for the reply. I actually would be financing this deal so it would cut into that Cap Rate. My down payment would be low so the Cash on Cash return would still be good. I will certainly find out about the cost if everything has to be switched back.

So you think they are asking for a fair price given all of the other factors I explained?

Post: NNN Lease Property Offer?

Julian RodriguezPosted
  • Real Estate Investor
  • Nutley, NJ
  • Posts 7
  • Votes 0

I have a NNN Lease property that is being offered to me at 2.5 Million in New York. It is a 12 unit property and the existing lease is for 5 years with the option on the tenant to renew after the 5 years for an additional 5 years. The seller is selling the property based on a 9% cap rate, all of the expenses will be covered by the tenant as stated in the lease. I have never purchase a NNN Leased property so my concern is that if the tenant does not renew after the 5 years I would be stuck with a property that I overpaid for due to the inflation cause by the NNN lease.

Just to be clear, these are apartments that were converted specifically for this tenant, so it is not a commercial space that I may be able to easily rent if the tenant leaves. I would have to find this type of specific tenant in order to make it work if he leaves.

So my question is what is a fair offer I could make to the owner taking all of that into consideration?

Post: Cash Out Refi Amount

Julian RodriguezPosted
  • Real Estate Investor
  • Nutley, NJ
  • Posts 7
  • Votes 0

I have a 3 Family house in Jersey City where I Airbnb two apartments and have a regular rental on the third. My income is currently around $9,000 per month. I owe 580k and am in the process of doing a cash out refi. The property appraised at $1,150,000 and I can do up to 75%. Should I pull out as much money as possible now? Or just pull out a moderate amount? Thanks in advance for any and all advice.

Post: Cash Out on Investment?

Julian RodriguezPosted
  • Real Estate Investor
  • Nutley, NJ
  • Posts 7
  • Votes 0
Mark L. Thank you! For this particular property I had the intent of keeping it for a while. It is a 3 family house in The Heights section of Jersey City. That is why I was thinking just doing a cash out refi for now and re investing that money.

Post: Cash Out on Investment?

Julian RodriguezPosted
  • Real Estate Investor
  • Nutley, NJ
  • Posts 7
  • Votes 0
Hey Nathan, Thank you so much for taking the time out to reply. I didn’t even know that ROE was such a big factor so I really appreciate you breaking that down for me and will check all of my other properties ROE. What would be a good ROE to have on a property? This is an area in Jersey City, NJ that is expected to keep rising in value due to a lot of redevelopment going on and because of its close proximity to New York City. That being said, would you still recommend selling the property now when it could possibly be worth more in the upcoming years? Thank you again, Julian R.

Post: Cash Out on Investment?

Julian RodriguezPosted
  • Real Estate Investor
  • Nutley, NJ
  • Posts 7
  • Votes 0

Hello everyone.  I have a rental property that I owe $290,000, I bought it for $330,000 in 2010.  The property is valued at about $800,000 currently.  I have a 4.125% interest rate, monthly mortgage is currently $2,650 and my rental income is $4,450 per month.  

My question is, do you guys think it is a good idea to do a cash out refi and pull out about $350,000?  I would use the money to purchase another investment property to rehab and flip.  Any advice would be a great help.  

Thank you,

Julian R.