All Forum Posts by: Junior Soares

@Maurice Smith Good evening Maurice, I love your ambition boss keep it up but please be open to the opinions of others on here as they're giving you exactly what you asked for and these are all good people. Casey is an awesome PM in the Vegas market. Vegas is a tough market, remember it was hit very hard the last crash we had because of super inflated prices. Currently, in my own opinion of course Vegas is again super inflated. The best play in Vegas right now when I crunch my own numbers is SFR and Condo in good A/B/C areas. If you will truly buy and hold, these investments will pay off over time with better quality tenants and a better overall ROI. 4-plexes are amazing provided they're in the right areas. The cash flow is great but keep in mind, your turnover rate will he very high and turnovers are very expensive and common when investing in MFH as it's part of the game. Not to mention complaints from tenants about their neighbors since essentially there are 4 families in 1 Converted SFR. I own both 4-plexes and SFRs and although my MFH has great cash flow (whenever 100% occupied) my SFR have a better overall ROI and tenants typically stay longer in SFR and tend to take better care of the property. If I may offer any piece of advice, I'd recommend to take your time, learn your market real well, build a solid team, analyze tons of deals to know your numbers and invest with your head and not your heart. Believe me, I've made mistakes and learned as you will do the same. It's part of the game. Either way you go, I wish you the best of luck and welcome to the game Have a great weekend Best, Junior

Thank you all for the wonderful information  @Casey Powers @Andrew Allen @Danny Webber @Greg H., I greatly appreciate it. 

@Jason Hirko I apologize, I will be buying the property all cash as I am pulling equity from my california home for the purchase. 

@Jerel Ehlert Thank you very much for the information, essentially yes it will be a Texas LLC, but the owner of the LLC will be my Nevada Holding LLC. Could we connect to talk more about it? and see what our best option is?

Have a blessed day all!  

Junior Picanco 

Hey BP, So we're planning to relocate to Austin, TX right before our daughter starts school in a couple of years. We are currently placing offers on homes in the area and should complete our purchase before the end of Q1 2019. My question is, since we will be renting it for a few years before we actually relocate, would it be easy to put it in an LLC, which will be owned by my Nevada LLC which holds our other properties and then remove it from the LLC when we actually owner occupy the home? I'm not sure on how astringent the removal process would be. Or........... Would a better idea be to keep the property in our name and insure the property with a decent G/L insurance worth twice the value of the home as an umbrella safe net? Any and all help/advice would be greatly appreciated! Best, Junior

@Kenyetta Overton Good afternoon Kenyetta, Theres plenty of money out there to raise that's for sure. They key here for you will be experience I think it's best if you grind even harder than you are now to obtain your first rental property. You can use hard money lenders, HELOC if you own your home, you can pull a loan from your vehicle if its paid off, etc. Once you have that experience under your belt raising money for your next deal will be a breeze because now you have experience and investors like to give money to those who know what to do with it and that can grow it for them. Best of luck to you, I'm sure you'll do well! Junior

@Ryan Huddleston Good evening Ryan, Please dont take this the wrong way as I'm just stating my personal opinion. Based on your post, all I see is a win-win scenario for you. Purchase price: 20k + rehab: 15k = 35k all in. Refinance pull out 50k for a 30% ROI. (Winning) The insurance seems a little high. Price should be no more than $50 per month for landlord insurance with a decent general liability coverage. With that, you would be cash flowing $50 per month for an infinite return and a free property. I dont think it gets any better than that . If it's a true buy and hold it only gets better with time.

@Kathy L. Hi Kathy, As a stucco contractor here In the Bay Area unfortunately I can only answer the stucco related question. Most of my RE Developer or Flipping clients are going with a fine modern acrylic sand float finish with an Integrated color. This saves them costs on paint and is the most economic compared to smooth finishes Beat of luck, Junior

@Dave Vona Hi Dave, In my personal experience good service goes a long way. Take care of your properties, attend to issues as they arise, perform semi annual inspections to make sure your property is running to par and provide a clean and safe environment for your tenant. That simple. You are simply running a business, and it wont always be perfect. Tenant turnover will happen from time to time especially in multifamily properties but thats ok, another tenant will come. No need to bribe, befriend your tenants, just do good business, be fair and stay within rental market and all will work itself out. Best of luck! Junior

@Junior Picanco Reverted** and goal*** dont text and drive 😂

@Phil Sharp There are are still a few areas that can provide a little cash flow but you have to go up North in the Sacramento area which is currently getting overpriced in my opinion. I live in San Jose and if I were to rent my house out it would not make sense at all which is why I revertped to out of state investing which has been doing quite well. There are give and takes. My play out of state is strictly cash flow since the areas I'm Investing in doesnt really appreciate too much. If appreciation is your coal stay on the coasts and just ride it out. West or East. Best of luck

@Ethan Josiah Best way I've found it is to wait the 6 months so you dont run into any problems, (hunt for deals in the meantime) once 6 months of ownership has passed, put the property into a 30 year fixed leaving 20% in the property if the numbers all work out. Best, Junior