All Forum Posts by: Luiny Tavares

thanks Again @Chris Troutner I saw the error of my way, I think you did not include property management costs, but on my side I was forgetting to recalculate the 20 percent down on the original price to the offer price.  I feel much better about the deal now so lets see how it goes.  I appreciate the Sinkhole education.  @Jonathan Henley thanks for the heads up, I will not let mother nature play with my Head, but I will allow it to play with my pockets, so if I can't get it insured I will probably not dabble in it.

thanks @Brent Coombs on my best calculations im only getting a $134/m cash flow, I will get a video course on using the calculator. and Thanks @Chris Troutner the property taxes are almost 1200 so about 100 a month. and the other thing that worries me is the mention of a sinkhole in a previous inspection, your a Buckeye state guy and you've heard of Sinkholes; i'm from New York never heard of those.  what I envision in my head, is the ground swallowing up my property, would regular home insurance cover that or would I need additional insurance for that? @Jonathan Henley help me out with that question since your from the area, you would know.

and BTW thanks guys I feel allot better trying to invest with so much knowledge and experience on my side.

Hey @Gabriel Amedee thanks for the feed back. yea seeking advice from local experts will definitely help I'm just weary that most people don't actually analyze their home purchase as a proper investment, therefore figuring out what the general COC returns might actually not be sound investment strategy.

Happy Holidays.

Hi @Brent Coombs

the Asking price is 75k and Im thinking of offering 50, I would put down 20% to save on the PMI, similar homes in the New Port Richie area have sold for average of 65k, the rentals are about 1000, the listing says it has a roof violation, so I put in about 7K in case I have to replace it, it also says it does not require flood insurance, so I'm leaving that out of the equation, also the cap ex does not include property taxes but it includes maintenance and I also budgeted for a 10% management fee. So even if I'm going to live in a property it has to make sound financial sense, in order for me to buy it. thats how I analyzed it Thanks.

I live and plan to invest in the northeast, but I've been to Florida recently and I love it there, I would love to buy a place in the Tampa Bay area, as a rental investment for now, with plans of maybe moving there in the next three years. the property I'm looking at is a SFH, and Im thinking of offering 25 thousand dollars less than what the asking price is.

The problem I see is that when I put the deal in the Rental calculator, my Cash on cash return is 8.5% and I honestly want to stick to at least 15% cash on cash return, so that my money can sleep well at night.  Am I being unreasonable in expecting those kinds of returns in that area, or is my offer to high?  I am calculating an 8% vacancy rate a 10  percent management fee, a 10% capital expenditure, 2% increase in value and a 7% sales cost.  Am I missing something?

hey @Anna Buffkin, It seems that your issue derives more from the desperation of trying to rent in a season when no one is looking to move.  I'm new to RE but a veteran to communication.  People will want to communicate in a way and through a medium in which they feel comfortable, look at how many great tips are on this page.  all through the writen medium.  All this info would have been nearly impossible if you would have had to pick up a phone call from everyone.  I love talking to people but the more time I spend in business the more I figure out that writing is the most efficient way to communicate in business.  my issue is that my large fingers make it tough for me to write in my telephones keyboard, so  I've learned to speak into it so that is types what I want to say.

you said something very important, you trust your gut feeling and would rather rent to people who you can speak to, so my advice, focus on that.

Hi @Tom Gimer , commission splits, more things to take into consideration.   I love the challenge, my hourly rate has just been cut in half, but it's been a wonderful learning experience, so I will definitely move on with the acquisition of my license. the picture on my profile is me after finishing my first Spartan race, it has given me an appreciation for challenges.  

Hi @Joseph Scorese , thanks for the heads up, I have family in Hazleton and in Reading who are always telling me that those are good investment markets.  that seems like it would be down the line for me especially if all I have to do is pass the test there.  it's awesome and encouraging to get support from a thirty year veteran.

Best Regards 

Luiny Tavares

Hi,@Nathan Gesner , Thanks for the heads up, there's a website,  kapre.com that offers the 75-hour course for

79 Bucks, plus you are correct the test is 50 more so even if I were to fail it once ill still be ahead. MLS access is 155 dollars a year at least the way I understand it in New Jersey as long as I'm affiliated with a broker. Tell me does the 5000 dollar number include your marketing costs? also is the E&O insurance paid by the sales agent or the broker? and the association of realtors Dues I know those will also be coming, so I will have to do many more deals to make it worth it but thanks for the reality check.

Hi, my name is Luiny Tavares, I have always considered myself an investor, I have Real Estate Investments overseas. I am officially launching my Real Estate investment career in the US, by getting a New Jersey Realtor License. I am looking to buy a multi-family in northern Jersey. I can obtain a real estate license for about 250 dollars plus, I figure I'll invest 100 hours in doing the course and taking the test. If I can get 2.5 percent of the 350,000 purchase price that's almost 9 grand at 90 dollars an hour I like the initial investment. Plus then I can have full access to the MLS, where 98% of real estate sales are posted. The investment strategy I'm aiming towards is the BRRR. I've been listening to Bigger Pockets podcasts for the last three weeks and I've been inspired to start my Real estate investment career today. I have a lot to learn but I feel that I have a great community here at Bigger Pockets.