All Forum Posts by: Polo Vazquez

You’re Invited to Our Investors Meet-Up! 📈

Join us for an exciting opportunity to connect, learn, and grow! Our upcoming Investors Meet-Up is designed to provide valuable insights into investment opportunities that you won’t want to miss.

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🗓 Date: November 14
🕒 Time: 7:00 - 9:00 PM
📍 Location: ROOSVELT’S AT 7

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Hey Olga,

You don't have to take out all the money on the Heloc. This avoid you paying interest in the entire loan. You could also use to purchase several properties, pay down credit card debt or treat yourself a nice vacation. Basically, you can use it for anything but be careful, if you don't pay it back you might end up losing your primary residence.

 I agree! all of Texas is growing. Might as well look for cities where major growth hasn't occurred yet.

 You are correct. It used to be super easy to get cash flowing properties in the Rio Grande Valley. It's gotten harder, but rent have been creeping up in last few years at a good phase. I don't doubt it will be easy to get cash flow again once interest rates go down. If you are buying cash, you most definitely cash flowing.

Getting credit under an LLC is usually more difficult and more expensive. I strongly recommend getting as many loans under your name as you can first. Once you do you can switch the house but there is always a risk that the bank can activate the due on sale clause (meaning they whole loan is due).

Having an LLC for protection is not always the best option. Here are a few items I have come across having my owns LLCs that you need to think about.
- You will now have to file a tax return for your LLC and these can get expensive.
- You might need to pay an annual fee depending on your state

- When you pass away does the basis reset when your kids receive it as an inheritance? If not, and they sell, they would lose on a lot of savings.
- You can still lose every single property you have under the LLC

It might be cheaper to just get and insurance that protects you

Come join us at our monthly meetup in McAllen! No sales pitch, no guest speaker. Only a couple of friendly investors talking about what they love most. This event is for investors with all levels of expertise. Come meet fellow investors, find clients for you business as a lender, cpa, lawyer or construction. Networking is the key to success.

@Brandon Solis

I've never heard of it being illegal . However, I have advertised to people before that I review apps on a first come first serve basis in order to encourage them to apply quickly. Your PM might be doing this. If he is and the picks out another application just because it's better then I'd say it is possible that he can get sued. Still very unlikely though.

Can you give us more details? Are you looking to stay in California only? Are you looking for cash flow, equity, or both? SFRs, Fourplexes, Multi-family? That would help us give you a better answer. 

If you are looking for easy cash flow, you can purchase fourplexes in my area for a good COCROI

I agree with everthing Amir said. I will add:

Pros:
-Lots of people rent here in the The Rio Grande Valley leading to low vacancies
-More cash flow.

-Low cost of living meaning if there is a recession, people move to places like this.

- Although poverty levels are high, we actually get a lot of money from people with money moving from Mexico to the US offsetting this a bit.

Cons:
- Not very many qualified tenants. Financial education is low.
- Appreciation is good but not as good as the big cities.

I live in a southern town in Texas. I have seen rentals struggle a bit and some landlords decrease their rental asking price. However, they are still up 20-30% from what it was 2 years ago. Rentals are also staying in the market a bit longer. I will say I'm a little worried because I'm still seeing  a lot of multifamily being built!