All Forum Posts by: Lucas Machado

@Josh Benitez - Of course! Just sent you a message.

@Adrian Gonzalez - Welcome to BP! Feel free to reach out to me as well if any of your investors are ever looking for hard money for one of your deals. 

SFH located in Miami, FL 33031 - $470,900

Contact me privately for complete address and additional information.

Cash Buyers or Private/Hard Money Only Please!

Year Built - 1969

Square Footage - 6,500 sq ft

Floors - 1

Lot Size - 110,000 sq ft

Property Type - Single Family

Not much needed to flip this CBS single family house in the Redlands. It does need a new roof. Huge 2.5 acre lot with lots of privacy and a beautiful gate out front. Vacant.

Call, text, email, private message, or comment below if interested.

- 754-800-4743

- [email protected]

Want more deals like this one delivered straight to your inbox? Join our mailing list at: http://www.mwregroup.com/sign-up/

Not enough cash for one of our deals? Call us about a hard money loan!

@Shawn Murphy - I just sent you a message. 

@Josh Benitez it's really up to each individual investor...

I have no desire in being a landlord myself at this time, but I know if I were to be in that game I would not just be worrying about cash flow, but also the cap rate. In fact, cap rate would be #1 for me. $3,000/mo in positive cash flow isn't good enough if I'm not getting a solid % return on my investment. I need to be able to compare it against other things I can invest my money in, like stocks, loans, flips, etc - that's why the cap rate is critical for me. Furthermore, a property might only bring in $100/mo in positive cash flow, but it could have a really high cap rate if you got a great deal and have a good bank lined up to for your refi.

On the flip side, I've also wholesaled properties to foreign investors with a < 5% cap rate...While it seems absurdly low to some, there are people out there who just prefer to park their money in something in the US, and that trumps all other metrics.

SFH located in Pompano Beach, FL 33060 - $155,000 (Just 1.5 miles from the beach!)

Contact me privately for complete address and additional information.

Cash Buyers or Private/Hard Money Only Please!

Year Built - 1960

Bedrooms - 3

Bathrooms - 2

Square Footage - 1,350 sq ft

Floors - 1

Lot Size - 6,200 sq ft

Property Type - Single Family

CBS 3 bed / 2 bath house on a corner lot just 1.5 miles from the beach. Would make a great vacation home or rental. Needs a complete rehab, including a new roof. Has central AC, just needs a new condenser. Strong comps around $250k.

Call, text, email, private message, or comment below if interested.

- 754-800-4743

- [email protected]

Want more deals like this one delivered straight to your inbox? Join our mailing list at: http://www.mwregroup.com/sign-up/

Not enough cash for one of our deals? Call us about a hard money loan!

@Aaron T. and @Account Closed, unfortunately I can't tell you how many XYZ you need to do to sign a contract and close a deal...Not because my company doesn't track these metrics, but because we are constantly changing what we are doing to: 1) shake things up, 2) hit new leads and 3) try new things. If you're just going to do what everyone else is doing, you're likely to have some success, but that's not going to be enough if you want to really excel in such a competitive market. Also, I think it's hard to put a number to it because every deal/lead is so different - you'd need to be truly doing huge volume to be able to have numbers that have any statistical significance in my opinion. 

@Igor Muguruza - Welcome to BP! I have to second @Ned Carey's suggestion about networking at the local REIA's. Thats one of the best ways to learn AND meet the people who will help you grow your portfolio. The Dade REIA meeting is probably the most convenient for you if you are in Miami. Also, a few BP members from South Florida have organized a meetup that was in Miami last month and is in Ft Lauderdale this month. Just go to meetup.com and search for "GREAT Opportunity Real Estate Investors Meetup"

Good luck with your investing! Don't hesitate to reach out directly if you have questions.

Regarding the offers: There's nothing immoral about making 5+ offers a day. In my market, there are so many new properties listed every day, and there are so many people out there who will pay more than the property is worth, so you really need to dig deep to get a deal at a great price. Further, a lot of properties are listed at ridiculous prices, so I throw my offer into the mix no matter how low it is in case it doesn't sell and the seller eventually comes down to a realistic price - they'll already know I'm interested. If 30% of his offers get accepted, I'd imagine that's probably worth your time...My rate is significantly lower, and so I'd never even consider asking a realtor to do the work for me - it just wouldn't be worth their time.

Regarding the HML - Yes, they should be engaging their HML once they have the property under contract and are in their due diligence phase. There are several things a HML will want to do to evaluate whether or not to do the deal. As a HML myself, I never even look at a property that isn't yet under contract - if you don't get the deal, it'd be a huge waste of time.

Very difficult to know how reliable it is for any given property...Sometimes the property appraiser site just lacks certain info entirely (like living area sq footage)...Sometimes I've seen docs at the building office that conflict with what's in the property appraiser site/stuff that has actually happened, been reported, and should be updated in property appraiser site doesn't make its way there, or is very delayed...And in some cases the current/previous owners made modifications on the property without ever going through the proper process so the county just doesn't know to update the appraiser site. 

In other words, you can never truly know...The only way to be certain is by inspecting the property yourself.