All Forum Posts by: Mario Gonzalez

@Jim Kittridge hey thanks for the comment. 

im doing the numbers and it maybe me but everything seems to only cash flow 100 to 150 a month after 10% PM,5% vacancy 10% capex and repairs/ assuming 20% down. 

im trying to get a good area with no hoa and mostly turn key since im financing it and being a remote investor for now. 

you mention outside of the area has doable areas but if you had to grade it what grade would you give it? C+?

my cash fund for RE is 190k but im not sure when ill move to NC so i gotta keep 100k just in case but hoping 90k would be enough for DP closing cost reserves and light rehab work, am i crazy or is this amount doable ?

 hey going to DM u now 

@Jacob H. hello, FHA buyers are losing out to conventional buyers. Sellers rather deal with conventional buyers. i know about the low down payment % etc for FHA but in this market my chances are better with a conventional even tho i would love to use a fha. im in NJ and with prop taxes being 13k a year, cash flowing does not work here and i dont wanna buy a place to HH where after moving out it doesnt cash flow. This leaves me with the only option to cash flow a prop is to buy OOS which im looking at NC since they have good financials and metrics. its a risk yes but at this point i feel like this is my only option

@Will Kenner

Hey will, yes if i can find one in NJ where i would be able to cash flow after moving out but the issue here is that NJ property taxes are so high after doing the numbers i will be losing money per month after moving out. 

Sellers are choosing conventional vs FHA with that, i have to use conventional if i want the best chances of my offer to be accepted. If buying a 2 fam here does not cash flow after moving out and than my next best move in a rental property out of state even with it being high risk which i know of but would cash flow better than here in NJ.

im looking at NC and with 100k down including closing cost and reserves etc. i still have funds to cover me if anything happens. 

its tuff its either buy here and not cash flow or buy outside and cash flow  

hello, 

i am researching and feel like NC would be a great spot to buy a single fam then move to the state perm. 

i know the market is nuts now but i want to get some feedback on what i can expect to happen so this way im not blind sided. 

195k cash, 100k for a DP + closing cost + 10k in light rehab, Goal= 6% cocr after 10% PM, 6% vacancy 10% capex/repairs. 

• Elizabeth.
• The South End.
• Dilworth.
• Uptown Charlotte.
• Plaza Midwood.
• Northlake.
• Ballantyne.
• Foxcroft.

single family turn key or light rehab like paint etc. in a C to B class area with low taxes and no HOA at all.

im aiming for a PP under 350k if possible with 15% down best and worst 20% down. 

im living in NJ and have no debt and no bills other than 120 car insurance. 

i wanna buy two spots one in NC and one in NJ, 

rates are going up and i wanna get something soon before it does not make any sense to buy. i dont mind being a landlord etc

risk of out of state property is tricky but where else would i get cash flow and good state for growth near me? 

im looking at Durham or Charlotte to buy. im planning a trip to charlotte in the next 60 days. im hungry for this to be my year and not let the past few years fear hold me back. 

any tips or suggestions on how to get a rental property as a smooth process/tips to get it in this market or best way to get two spots this year would be greatly appreciated 

im 29 and be having self doubt for years when buying. Im in NJ where i am looking for a 2 to 3 unit in the hopes to use 15% down and goal to live close to rent free or low cost living.

the rest i want to use on a out of state rental either in NC,FL, TN areas where i aim for 6% cocr after 10% pm, 8% vacancy 10% repairs & capex

800 credit score no debt no bills. what is the best path way for me to get as much real estate as possible with this amount of funds? not into REITS, i wont let fear or self doubt stop me anymore. this is my year no matter what.

any help or advice would be great, what would you do if you were new and in my shoes?

im 29 and be having self doubt for years when buying. Im in NJ where i am looking for a 2 to 3 unit in the hopes to use 15% down and goal to live close to rent free or low cost living.

the rest i want to use on a out of state rental either in NC,FL, TN areas where i aim for 6% cocr after 10% pm, 8% vacancy 10% repairs & capex

800 credit score no debt no bills. what is the best path way for me to get as much real estate as possible with this amount of funds? not into REITS, i wont let fear or self doubt stop me anymore. this is my year no matter what.

any help or advice would be great, what would you do if you were new and in my shoes?

hi everyone,

I am 26 and looking to buy a duplex to house hack/Airbnb in Philly. I have been looking for 2 years and I'm starting to think it may just be me. I have been pre-approved, 0 debt, 65k cash for my buy n hold deal. 

what im looking for?

1. C class plus area

2. duplex or higher with 2 beds per unit

3. 200k to 345k

4. putting 10% down conventional loan

5. $150-200 per unit 

6. 8% cocr

7. rehab budget 10k to 15k max depending 

how i analyze deals

1. look up the zip code on niche for a letter grade

2. see crime map with truila

3. compare rents with rental comps and property price

4. use 8% capex 8% repairs 7% vacancy

5. holding 5k to 10k as reserves 

i look daily but not sure if it's me, my numbers or my mindset focusing on the wrong stuff. if anyone can help me with advice on what to do differently or if I should invest in an out of state property with 20% down or use a lower number or what cause 2 years is long enough.