All Forum Posts by: Melchor Domantay

BP Books - Brandon Turner - No and low money down.

BP Podcast - just buy your first one.

@Jair D Mendoza Welcome to BP - I learned a lot from this site. When I joined back in 2016 the day I purchased my first two flat BP helped me a lot network and grow. I'm trying to be more involved in the community so feel free to ask any questions when you need to.

@Alan Meltzer I have a couple of people that I've used. I'm happy to introduce. Contact me at 708-979-0852

@David Innocenti you do not have to put it in a llc or any corporation name. I will say if this is your first house hack and you live in the same house that it will probably better to put the lease in your name. As you grow - you can create a management company as a llc to sign all your leases.

Side note - create a google voice account so the tenant won't have your phone number.

Hope this adds value:

I don't think the seepage is a problem. Old buildings such as that bound to have vertical cracks in the basement and those are easy fix if that this the problem. As far as tuckpointing goes, ask your agent or someone that knows tuck pointing if that something that you need to be concern about.

Windows are tricky - is it really bad that you need to change it? if its not that bad then just leave it.

Boiler can last for a long time as long as you maintain it.

You have to account that if you unzone the heating unit that you are buying 4 separate units not to mention the cost to do it and will increase your capex. The easiest way is to add the heat cost to the rent.

I understand buying your first deal is scary and there's a lot of unknown but hopefully you have a good agent that knows what they're doing and trust them. It doesn't matter if the building is a new rehab. The inspector will still find something that you might have a concern about.

Great meetup!! Lots of helpful knowledgeable investors. 

Where do I publish my listing to syndicate it to every apartment site for free?

Zillow rental manager charge 9.99 for 2nd listings now.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $88,000
Cash invested: $25,000

I'd like to introduce you to my 2nd property. It's my first Foreclosure REO purchase. ? I put 25% down and put another 10k to remodel. Did a refinance 6 months after and get most of my invested money back. Love this property!

This property gave me the assurance and confirmation why I should do real estate. It gave me cashflow and force appreciation in the short amount of time.

The age of the home is not as important in my opinion especially in Illinois Brick house. There are beautiful and as long as you take care of them and do preventative maintenance then you should be fine. You can have it ready without sinking a lot of money. Some repairs, you can learn from youtube and do it yourself without spending a lot of money such as painting, carpet removal, floors and tiling. 

Hey @Robert Simpson, RiteWay Brick is very good for Tuck Pointing, besides the concrete floor. A good handyman can do most of your rehab. I have a couple of people I can share with you. Just message me.