All Forum Posts by: Maximo Pichardo

Hi, James looks like a great deal. Numbers reflect $178K invested in cash, is the $1,200.00 your total cash flow? or is there a note, how much over the note payment is your net flow? 

Hi Jerrin,

Many investors down in and around this area. Wesley Chapel has a few investors that I know, and many more down in the Tampa-Clearwater area. There's an REIA organization that meets on Mondays I believe just before going over the bridge on str 60. Look-me up when you get to Wesley Chapel so meet and chat over this area. Welcome to the area.

Hi Aaron,

I'm currently in Wesley Chapel, just a few miles north from your area. I've put many solar systems up for investment purposes, in fact, the Wesley Chapel property I have is being prepared for an Airbnb initiative. Tell me how much is the average electric on the current property, and I will be able to provide you with good solid numbers that support what you are trying to do. I try to get solar installed on properties I invest, it attracts buyers to the closing-table when present properly. In solar, it either works logically and financially or it doesn't at all as there is no in between. 

Originally posted by @Aaron T.:

i have not found a solar company that provides financing that can get me under a 8-10 year break even.

There are several financing companies that will provide 5, 10 and 15-year programs. Do you know the size of the system needed? Solar must make financial sense to be effective investment. Are you looking a system for yourself or for investment property?   

1. Be clear in your RE purpose and reason. (always think with the end in mind)

2. Write down your 1 or 2 realistic short term goals that align with your reason & purpose.

3. Network with RE mindlike people here on BP and thru your local investment groups

4. Educate and learn but don't overload yourself with useless information 

5. Remember, you will never be100% ready to make your first move, example / your first offer, etc...But One thing is for sure,  at some point, you must take "MASSIVE ACTION"  and follow thru.

6. Once you take "ACTION", get heavily involved, learn from your mistakes because you will make them regardless of how perfect you try to cover every angle. It's the unforeseen mistake that makes us good at what we do in the long run.   

7. And finally, once you take massive action, don't you ever stop till you finish. keep going thru the process and do whatever it takes to piece the deal together, don't ever give up because you don't know something,  seek the information from here and everywhere, or from your mentor,  do online research, etc...but you must keep going even when the tough gets bad, and the bad gets worse.

The one thing I've learned in RE investing - deals are not a "One Way Street" - This is a very creative business and there are many ways to skin a cat as the saying goes. There's always a way to make a deal work,  it will depend on our ability and creativeness "thinking on the fly"....and that's why friends and family opinions cant fit in our decision-making process when we are in the trenches of creative-thinking trying to make our deal happen.  That's the fun part of the business!

Hi, I’m not trying to contradict anyone in the forum, just gathering factual information for the Florida market. There’s a hand full of investing companies in the Tampa Florida region that intentionally purchase investment properties with the purpose to install a solar system on the roof. They have been around for about 4 years and have a strong presence in marketing solar homes with a 15% mark-up. Unlike upgrading your kitchen or installing a new pool in your home, solar does eliminate 100% of the electric charges, which cannot be said by any other home improvement on real property. Example; If the home consumes $350.00 in electrical charges, a proper size solar system costing 40k / with $258.00 a month payment. Solar loans provide a better benefit than a solar lease solution. Most solar loans are not lien driven, but you must have great credit to qualify. However, it looks like you are referring to a Pace energy financing solution for your project. PACE loans are authorized by local and state governments which borrow money to fund PACE programs by issuing a bond, and then the money is provided by different private financing companies. They qualify as tax liens, so they have first priority over any other loan on the property, including the mortgage. If you are considering this type of financing, I don’t think it’s the right RE-investing for a suitable return on your money. Regular conventional loans will give you leverage with no lien on the property, and since you are funding the project you get to keep the 30% tax credit which is about 12K / cutting your solar cost down to about 28K. I think you can still make a great profit and move a solar property quickly in the right market. If you are in Florida, it’s a done deal.

Life lessons are the true core of what you learn, the risk we take and the size of your WHY - Education does not work for everybody, and many have the masterful skill to dissect a company or a system to prove and convince themselves why an enterprise wont work. Regardless, in order to be successful in what our heart calls us to do, we learn all we know by deception, wrong information, listening to others when in fact they were wrong from the start; - this combined with many sources of educations such as BP, Renatus, Fortune Builders, Carleton Sheets, Dave Del Dotto, and many others that go unmentioned - Is what makes us good and professionals at what we do. Personally I like education, and a systematic blueprint with processes easy to follow. I started back with Carleton Sheets, learned a lot, and made  a boat load of cash on my first deal. That did not make his education perfect, but a learned something. After Carleton I have taken many good, and bad courses - My point, never stop joining a group or take a class, or a leadership event, the good, and even the bad will always teach you something as long as we remain laser focused on a specific real estate GOAL. Everything helps, BTW Renatus (which I am not associated with) is not a MLM enterprise, good post though -

For me...I did take the Carlton Sheets course, fortunately I was able to take my time to study his material. I followed everything he said to do, and I succeeded tremendously. When I purchased my first home under his program, I walked away from the closing with 10K. I will never forget that!!! That to me was everything, and I became an investor.

I am sorry to hear others make negative comments about Carlton S. course, however I did step by step everything he said to do, and it all worked according to his class. My guess is that many do buy these RE programs, but how much do they really study and actually go out and make Offers until the deal presents itself. After speaking to a few people that have bought any RE program, I can tell they did not study the course hard core, and if they did, they never made enough property offers. Its impossible to not succeed if you made lots of offers. That's my opinion.    

I just got involved in wholesaling and don't really know much. My thought would be no, most of wholesaling in my short experience, is to have the capacity to be extremely creative with the homeowners current property condition. He can have a mortgage or maybe not, and you can still creatively make a good sense transaction. I think the 70% rule applies to the rehabbing metric of a property in need of repair to be able to measure against the ARV.

I have no experience with deed certificates. What I do know is that yes, any investor, that you preferably know personally and you show profitability in the deal can lend you the money. A smart investor understands due diligence really well, and if you ask for money be prepared to demonstrate a reasonable timeline for ROI and how profitability becomes profit. I have never asked for a loan or have loaned money for a business I don't understand, so find a savvy RE investor that can also help see deeper into your proposed deed purchase.