All Forum Posts by: Justin Gottuso

@Alexander Parada yup!

@Bill Pohl yes I’ve found cash to close gets great deals and puts you in a leave of your own, then can refi afterwards and get benefits of deploying the equity elsewhere.

@Mark H. Porter it’s also about strategy and goals. More ‘diversification’ with mortgages properties means more properties where something BIG might happen and cost thousands to repair, and some people would rather earn 1,000 income per month on a property they paid cash for than five properties earning $200 per month after expenses. BP tends to celebrate people with as many doors as possible but razor thin margins like $100 per door is stupid in my opinion and not my strategy of choice.

@Matthew M. It’s true! My first deal was a GRAND SLAM deal with 25% cash on cash return and the seller only accepted CASH! Makes sense why too, he’s older and hates fees and dealing with banks. For some sellers cash is not only king but the ONLY acceptable form of payment.

What are your favorite tools and calculators you use to analyze deals? Any websites, programs, apps or software you actually use and think is GREAT?

update: connected with a great contractor group that specializes in large multi-family. they are coming to tour the property with my agent and i tomorrow, with the goal of getting a plan for the property asap. also working on getting local information needed to compare with other multi family properties to see what is needed in this community. once construction info/numbers and local community comps and info is available, i'm planning to put together a presentation for investors. thoughts? what other information should i gather?

@Wale Lawal

Sounds like you’re in the analysis phase, or have you already purchased an investment property?

If you find a GREAT deal, get it! We don’t live in a third world country where massive social disruption happens at every election. People whine and protest a bit, but thank God and our ancestors for the sacrifices they made to make our country great.

As far as Biden, his #1 agenda item is getting COVID19 under control ASAP. The short run might see more regulations and more protections for renters, but he will also push for more stimulus/cash to Americans. So, more cash in people’s pockets plus COVID19 numbers going down the economy will start recovering. I think :-)

Buy GREAT deals.

Get GREAT property management.

Dream big, work hard, and you’ll do GREAT!

@Greg Dickerson great thanks for the advice! I’m also in need of a contractor/company that could determine renovation costs, right?

I have a lead on a BIG commercial property that’s able to be converted into a 100+ unit multi family property. Anyone have experience in assessing the financials and getting funding for big projects like this?

@Zeke Liston Westerville