All Forum Posts by: Luis Sanchez Rodriguez

@Daniel Luna
Once you reach the point when you're ready to sell, your Realtor will be a key player.
Keep in mind, as the seller, you may be required to pay for additional fees (Buyer/Seller fees, Realtor commissions, etc.)

Now about 1031 Exchange...Just in case you didn't know. The is a tax deferment program that allows you to take your capitol gains you earned from selling your property, or refinancing, and invests those earnings into a new property. There is a lot to know within the program; so it is best to consult with your RE Attorney and RE Tax expert.  

@Stephanie P.
Can you provide me the links to some of those discussions?

I searched and read through a few but none if them really answered my question.
With your explanation I get a better understanding. Thank you.

@Will Fraser
Thank you for the insight. That paints a better picture for me.

@Jeremy Wirths
Can you elaborate a bit more?
I believe my answer is 'Yes', but since I'm not 100% knowledgeable would like to get more insight as to what you may be referring to.  

Hey Daniel,

Wow! 16 and thinking about RE. At your age I wasn't remotely on the same level as you. I applaud your forward thinking.

I'll be more than happy to help answer your questions.
Do you have specific questions? That would better let me know what I can share.

In the meantime, be sure to check the Webinar that's happening this Thursday. It should give you a general idea how to start in RE.

If I can give you any starting point it would be to look at the laws in your state/city for RE with your age.
Your age may be huge limiting factor to your goal(s).

@Simeon Wright
Can you give us specific questions you have to better help you?

With Real Estate Investment, there's a lot of information...too much information to express entirely in this form of communication.

There's a Webinar this Friday that would be highly beneficial for newbie investors to attend.

Don't hesitate to reach out with your questions. Always happy to help.

Hey folks,

I can use some quick guidance...

I understand the importance of setting up an LLC and having your properties under one.

My question is: Which comes first?
Do I buy my property first then put it under an LLC? Or do I setup and LLC first then buy my property?

Thank you in advance for the help.

@Chris K.
So from what I was taught, your CoC is heavily dependent on how much of YOUR cash is put into the deal.
The BP Calculator assumes any down payment being made is money coming from you.

What is your goal for financing your deal?

For me, my goal is to purchase my deal with 100% leverage...none of my own money going in.

@Randy Bates

Absolutely!

Make sure you click the hyperlinks on the right side of the page to get a full understanding of what exactly are you evaluating.

Best to you, sir

In my personal opinion, the duplex rather overpriced for the rent that its generating.

Additionally, with your CoC% it is no better than the stock market (3%-6%).
I usually look for deals that will get a 10% CoC at a minimum.

Lastly, be mindful of the 50% Rule it will help quickly assess properties as you shop for deals. 

Hi Randy

So I took a look at your deal.
For me personally I wouldn't make this deal.

Some of the big deciding factor are the following:

1. The property doesn't come close to passing the 1% Rule
2. Your Expenses are a little too close to your Income

What type of unit is this?
Layout of the property? (# Beds, # Baths)