All Forum Posts by: Michael Reyes

Looking for reputable GC recommendations covering San Diego, Poway, Escondido, San Marcos. Possible Fix-n-Flip opportunity. Will need bids.

“We fail to realize that mastery is not about perfection. It’s about a process, a journey. The master is the one who stays on the path day after day, year after year. The master is the one who is willing to try, and fail, and try again, for as long as he or she lives.”
~ Leonardo da Vinci

All the best to you on your journey, on the road to mastery.

Cheers,

Michael

@Star Dawson

No dream is ever too big. My favorite quite:

“The greatest danger for most of us;

Lies not in setting our aim too high, and falling short;

But setting our aim too low, and achieving our mark."

~Michelangelo

Best of luck & crush it!

@William Coet Always buy for cash flow, never appreciation.  Appreciation is icing on the cake so to speak.

@Jackie Griffin.  As @Christopher Hunter asked, have you run the property through an underwriting process?  The underwriting process will tell you what it’s worth and a reasonable offer price.  If not properly evaluated, you could over pay and/or leave $$ on the table.

Although I don’t have a MF property purchased or under contract yet, I think that this may be unnecessary.  I would think that having a great PM on your team would be of greater value.  To me, a PM would have a better pulse on the local MF market, unless of course this realtor has experience with MF management, acquisition and disposition.  My $.02.

Would love to hear what direction you took.

Cheers,

It’s black & white, the numbers don’t lie.  Buy on solid numbers & you will come out ahead.  Buy on emotion, & you’ll lose.

Cheers.

Is this property still available?

The SDA is a great tool for the price.  I was creating my own Excel spreadsheet when I came across Michael Blank's SDA and now use almost exclusively.  Also, if you have your own spreadsheet, good tool to validate your work.

Hello @Natashia E Morales, and welcome.  I'm in the same boat and have been trying to pull that trigger for the past three years.  I feel stuck in analysis-paralysis and need to step off the ledge so to speak.

I do a fair amount of reading, listening to podcasts, etc.  I believe it was Grant Cardone who said, "don't be afraid to safely go as big as you can, as fast as you can."  When he said that it changed my entire mindset and although I don't have anything under contract or in a portfolio, I look at larger properties which have the cash flow to sustain operations and potential for longer term passive income. 

Best of Luck & Cheers!