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All Forum Posts by: Luis Valdez

Luis Valdez has started 34 posts and replied 64 times.

Post: Can someone explain how refinancing makes money?

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

Can someone explain how refinancing makes money?

How do you determine when it's a good time to refianance

Post: Advice for getting my first deal

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

Hey BP nation,

I'm looking for multifamily homes in the s. jersey area. I'm still not pre-approved but my credit is in good condition as well are my finances. 

I'm looking to get into a deal with my fiance but she has an average score and some collections on her credit.

Should we start the empire with joint credit or just lock in our first deal under my credit?

Post: Questions regarding Credit Score & Real Estate

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

Hey BP nation,

How do you raise your credit score?

How do I get rid of hospital bills on my credit?

Whats the score you need to have in order to get approved for the best interest rates?

How many times does your credit score get ran while trying to buy a multifamily house?

Post: How do I measure the Real Estate Market?

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

Hey BP Nation,

I am new to the Real Estate world. 

How I measure whether it's a great time to buy or sell in the real estate world?

Are there any stocks that govern the real estate world?

Post: What are you type of real estate are you investing in?

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11
Originally posted by @Caleb Heimsoth:

yes I do.  Because it’s the simplest to start with and most available in the market I chose to start in.

 Nice! I always hear that having tenants sucks. What's your take on that?

Post: What are you type of real estate are you investing in?

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11
Originally posted by @Caleb Heimsoth:
@Luis Valdez

1. Single family so far 2. More then 1 less then 5 3. About a year 4. To make moola 5. Cash flow, grow wealth, every other generic buzz word you see on BP regarding this

 Do you rent out the single family home?  Why did you choose single family home?

Post: What are you type of real estate are you investing in?

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

Whats up BP Nation!?

I'm new to real estate and I'm trying to gain as much knowledge as possible. Please answer these questions below with as much detail as possible. 

  1. I would like to know what types of real estate are you investing in? 
  2. How many investments do you have?
  3. How long have you been invested? 
  4. Why are you invested?
  5. What is your goal with your investment(s)?

Thanks,

Luis

Post: How do I crunch numbers for BRRR method?

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11
Originally posted by @James Masotti:

@Luis Valdez - That's a very generic question...to which there are a plethora of resources available about the BRRRR method if you search BRRRR in the search bar at the top of the page. 

Have you already read the blog articles by @Brandon Turner or maybe you'd be interested in this article by @Matt Faircloth?

If you have any specific questions feel free to ask away otherwise it's best to just start reading the resources already available since they are put together but many of the experts on these forums. 

Thanks for your feedback James! Do you use the BRRR method?

Post: How do I crunch numbers for BRRR method?

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11

Hey BP nation,

I am new to the real estate world. 

Can someone please explain how to crunch numbers with the BRRR method for multifamily homes?

Post: New Jersey Real Estate

Luis ValdezPosted
  • Rental Property Investor
  • NJ (new jersey)
  • Posts 68
  • Votes 11
Originally posted by @Jennifer Petrillo:

If you are interested in flipping houses, the fact that NJ has the highest number of foreclosures in the country is a good thing, there are many vacant and distressed (read: cheap to purchase!) properties still available in NJ, some have been vacant for ten years (since the recession) and are just coming to market now. Or you could rehab one and keep it as a rental, BRRRR method. Yes, property taxes are high, the market is pretty flat for high end properties now, they seem to have hit a ceiling price wise. More people move out of NJ every year than move into it b/c of taxes, traffic, other factors. So the rental market may be stronger than the homebuyer market in some areas, especially anywhere with commuter lines to NYC (bus, train).

Excellent point! The BRRRR method sounds fantastic. Have you had any success with this formula?