All Forum Posts by: Luis Maqueira

You are in the right path seek seek you will find. 

let's chat, I did your path the last 15 years, Realtor, wholeseling, rehab-invest lost everything 2009 and keep going. Today Multifamily is my Market.

What you learn is yours.  This site is great for info and knowledge,  then go to the local Investors Club. Find groups that are doing the work not selling you classes or courses. That you can get free reading. 

Keep going this industry is amazing.

Luis MFP,

My Friend, 

Keep learning here in bigger Pockets, I love and encourage your attitude lets buy my first Multifamily. No matter how big a millionaire you are today, we all started there with our first deal. 

Advice be part of an investor club find doers, partner with a team.  You need to buy right(so dont expect an agent selling you or a seller to be on your shoes, you are on your own.) They are just providing you with information. Ask them how many they own that will tell you how experienced they are in managing a multifamily property. Their job is to sell no to manage.

Then you find the property now what type of financing should I use for this Unit?

Then how do I manage the units to get the highest return possible?  

When should I refinance to cash out or not ?

How do I taxes to take full advantage... 

My personal opinion if you don't have money to overcome mistakes, partner with a team for a few deals. Then you can keep buying and buying. YOu will buy more because you know more. 

Luis Maquiera MFP

Loretta

Why buy away?

Do you have a management company, Handyman company source of deal no a list of things to sell a consultant no just  pass information?  We buy in our backyard if we need to handle so many surprises. You need the whole picture you buy but then you need to stabilize and make a profit.

We buy here in Florida only,  small 1 to 8 units. So we now the crew that manages them. May be a bit less profitable but I know what is going on 30 years living in Miami.

Good Luck,

Looking to tap in to Equity. 

My group had been buying for the last 5 years.  We are sitting on 40% equity in our portfolio.  And have very good rate 4-5.5% rates on our mortgages.  

We are looking for 2nd Mortgage lenders.

Any Idea where to look for them?

Thanks

Luis Maquiera  MFP

Hi 

yes interested in South Florida but will take a look to  all. 

Luis M

We are Multifamily acquisition & Asset liquidation group.

Only in Miami Dade and Broward. 

Let's connect,  the contract is the easy part. Finding good deals and good buyers is the business. 

We work with many realtos and we use their contract as long that they let us assigned.

Good Luck

Luis MFP

Shane 

Call me I was a mortgage broker back in the day. I know what to ask,  and that is the important part they all get the money from the same source so pricing is base on the business you bring to them.

Service is definitely a plus,  and I meant the person that talks to you should now what to ask you, to give you the best loan for you not for the bank.

I just got DSCR Interest only (why put the money in the walls you can't use equity, worst you will get charged fees to ask for your own money back??????) terms up to you 10 year fix is good enough for me we will refi before or Sale.

open to chat any time I messaged you

Luis 

Multifamily Partners

we are cashing out one 3 of our multifamily in Southeast Florida.

I have done some homework, let's chat. 

But I am curious if the rate is good and fees are good ...  you are getting debt from them. 

What is to find out, I always tell my colleagues don't worry if they are so bad that they go out of business you still have to pay the loan. Someone will help you with that.

good luck,

Luis M

Looking for a good working ethic Orlando Realtor. 

We have leads relocation & Rents

Please contact me  message me lets work together for more. 

Luis M

need all the expenses - no way to analyze without them and you haven't provided them.

capex? repairs? shared utilities? vacancy? landscaping? miami business license fee(s)? (not sure if that's a thing but you have to count everything...)

my guess is you will be negative cash flowing for several years

doesn't sink it necessarily but i don't see it being cash flow positive at a long time with an interest rate of 8+%

just the way the market is right now. probably would have been fantastic with a rate in the 4s

Hi Jose if you don't have experience with this numbers  please please review them. 

we bought 8 multifamily the last year Hollywood and most Miami Dade and cash flow ...

yes with 8%,  Insurance 9000 (4000$ fourplex ask around no way)  taxes expect them to go up you are purchasing, expenses (yes you need to add them) and Management. 

You can't cashflow do the numbers backward and to make enough to do a DSCR loan... No owner can sell at that price ... and give you the property...

The game today is owner finance, Value ADD so you buy equity to be built, and buy and hold. 

Luis M  MMP