All Forum Posts by: Lazaro La Rosa

@Kathy Argento

Hey Kathy! 

I would love to talk more about this.

@Thomas S.

Hey Thomas thanks for the feedback. 

I completely agree with you, that's why I am strongly considering the BRRRR strategy. I would essentially refinance the home getting a good percentage of the equity in a HELOC. Then turn around and repeat.

@Edgar U. 

Thanks for the insight! 

As far as house hacking, my father built a small studio attached to the house some years ago that brings in $600/month,and I could easily rent out the house itself for $1,100/month having no mortgages I'm sure I could net a monthly cash flow of $1,200 if I did not live in the property. He has also left me with 3 mobile homes that net around $1,500 a month all together  but are in terrible shape. 

Since I am 23 years old I feel like now is the time for me to be very aggressive with my investing and quickly building a strong portfolio. On the other hand not sure how hard money lenders or banks will feel about lending me money or approving me for a HELOC since my credit history is so short.

All in I can easily net $2,000-$2,500 a month as things are now and use my 9-5 to pay a rent and bills. 

Frankly I am terrified to screw this up, my father came to this country at 55 years old as a political prisoner from Cuba and managed to save over 150k in 12 years to build this small portfolio that he has left in my hands. I really want to make the right choice but I think with the feedback everyone has given me the BRRRR strategy is my best bet.

Good afternoon BP!

Over the last year I have become obsessed with the entire real estate world. Before jumping into my first deal I really wanted to make sure I educated myself so I began to read books and do allot of the things most members of our community do. I am now eager to jump into my first deal but I wanted to seek out some advice from you guys! I am also working on my real estate licence.

Here is my situation:

I am 23 years old and make a salary of 50k a year.

I inherited a single family home from my father that needs some work but has an estimated ARV of 200k. The property has no mortgage and is paid in full.

My market in sunny South Florida but I often travel up to the Charlotte area. 

I want to eventually go into REI full time and quit my day job. 

Would love to hear some feedback, Thanks!

-Laz

Side note- I am currently working on renovating the property and possibly using it as a starting point for the BRRRR strategy.

“Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work, and the only way to do great work is to love what you do.” –Steve Jobs

At 20 years old and fresh out of college I just needed money and it didn’t matter where it came from. I applied everywhere and Chipotle Mexican Grill was the first to offer me a crew position at $8.50/hr. 3 weeks in I was offered a kitchen manager position. Fast forward 3 years and I was a General Manager that had developed over 20 managers and coordinated training for over 10 new locations. I proved to myself that I could accomplish anything because I was willing to listen and always learned from my mistakes. Unfortunately the restaurant industry is not what I am passionate about. Real estate is. About a year ago I became very interested in the real estate world, so I began to read any and every book that has to do with real estate, personal development, finance, and SALES. Now I am here at BP to network, continue to learn and begin my journey with real estate.

I recently acquired my first property and I am ready to begin my journey. I look forward creating great relationships with you all here on BP. Thanks!

-Laz