All Forum Posts by: Jesus Sosa

@Paul Cherubino , It's awesome to hear your journey and end goal. Greenville is a great area to move to, with plenty of growth to come. To answer your question 2: I would say a BRRRR deal would be a fantastic way to start. Look for a distressed property that doesn't need a major rehab but does not some cosmetic work (paint, floor, cabinets refinished, landscaping, etc). If you're unfamiliar with roofing, foundation, plumbing, or electrical then I wouldn't recommend starting off with those issues as they can become a major problem.

3: I would love to chat man. I am always looking to meet like-minded folks as well and find ways to help each other. Give me a shout when you're around the area. Much blessings man. 

@Michael Glist

Properties are occupied, this is limiting my ability to take inspectors/contractors in to get rehab estimates.

I have not done any bridge loan. But I will certainly look Into that. Thank you!

Morning BP, currently under contract for two properties, for one bundle price. Price is under market and has great ARV, due to the area. I have attempted to reach hard money lenders, but all require inspections, appraisals, or some "proof of existence" which I totally comprehend. However, this deal was structured as a "cash offer" and with No Contingencies. Which has put me with limited options for funding. My only option now appears to be to find a private lender that is willing to work with me and receive a good Return on their Cash. Yet, even then it's been extremely difficult to even get in touch with a possible individual in the area I am located. Where should I look for private lenders? Posting, "Hey guys, I'm looking for a private lender with these numbers ..." doesn't really attract anyone. Cause even I wouldn't be interested (if I had the capital).

What do you guys think? Thank you all. 

PP: 160k | Reno: 100k | ARV: 320-340k (for both)

@Jacob McCann @Tanvir Sattar Awesome guys. Thank you both for replying. I haven’t been able to find a local meeting yet. Maybe not looking at right spots but I’ll continue to ask local investors. || Man I do miss the gym a lot. Haha, I connected a ton back in college. Not about Real Estate but about anything going on in the area or what types of program they use to either bulk up or lean down. I’ll be getting back to it this year for sure.

Thank you guys. Blessings. 

Afternoon BP Community,

I was listening to a podcast today on my way to work; Episode 401 with Jordan Harbinger on BP RE Podcast. They mentioned to create a “system” to build a relationship with other individuals. Maybe by setting up a reminder every few months to follow up on your last conversation with the people that are at the bottom of your messages. Or maybe Boomerang your emails to follow up as well.

I haven’t don’t any of these techniques but I do believe it creates a greater connection amongst each other. How do you guys follow up with other successful individuals? Or how do you even start up a conversation with successful people?

@Joe Villeneuve Thank you for your response. I will look more into my level of entrance compared to my cash flow and potential profit on investment.

@Kenneth Garrett Thank you for your feedback! Yeah, I usually set 300 to be my standard for cashflow. I know there are several opportunities to obtain much more cash flow, but it all depends on rent and operating expenses. BRRRR is known to use leverage and obtain a property with great cashflow, which is why I chose this strategy.

@Joe Villeneuve You're right, I know the better the numbers the better the deal. It's not necessarily the label that matters, but the knowledge and experience. We all can have different numbers and categorize each deal differently. With that being said, all I am honestly looking for is your experience finding the best deals in your portfolio. What do you look for? 

@Robert Verdi Good morning! I was able to negotiate the price even further down and our contract states there are no penalties for early payoff. So, as long as there are no early payoff penalties, I am allowed to pay the full purchase price of the property only, when I refinance. Interest is only being paid monthly with mortgage payment with seller. 

Good Evening BP community, today I drove by a property with a "for sale by owner" sign in their front yard. I made the call and was given their asking price. After running some numbers, I realized this property has a great opportunity for its area. I finalized my deal and considered it to be a great deal! Yet, I am not quite sure what price would make it a Homerun! This is a SFH planned for a BRRRR exit strategy.

What numbers would classify your investment(s) as a HOMERUN?