All Forum Posts by: Nic DeAngelo

Thanks for the awesome responses guys! Exactly the input I was looking for!

@Bryan- Do you know if 202 takes these into account somehow? I haven't actually played 202 at all

@Will- Haha Is it bad that my first thought after "Wow, what a fun way to reinforce investment fundamentals" was "This would be an amazing drinking game"

@Rudy- I heard 202 broadens the investment horizon with a lot more stocks and things other than RE. Did you find this in your experience?

@RealtyMan- If money was no object would you prefer monopoly or Cashflow 101/202?

Thanks guys!

Has anyone played these? What did you think of them? How applicable and effective were they in teaching basic investment skills?

Just recently came across these online and was curious about everyone's thoughts

What do you guys prefer to call RE investment groups/ scheduled meetups/ regularly held seminar events? REIAs or REICs? Which one is used more commonly?

Sounds nit picky but I've heard both and wanted to get everyone's opinion for a site I'm working on

Thanks!

No BP users have used Drupal for their CMS?

Josh have you played with it at all?

Thanks for the replies guys!

@SolidReturns and Jeff S: Rental Yield= annual rent/price. Not a ratio I have used but my guy wanted to know so I wanted to put it to the BP crew to give me some perspective on it.

@Jeff S: "investment property specialist" is more accurately "a guy I work with who is really good at finding investment properties but doesn't have the cash to buy in so instead finds them for investors for a fee." I thought the former was more efficient. 20% was my original COCR number but I wanted to make sure I wasn't overshooting it as I haven't worked with Multi familys before.

Thanks guys!

Anyone else?

This is for the techies

I'm working on a site now. I'm a long time Wordpress user as I like the CMS and plugins. I recently talked to a friend who is a Drupal pro and he was telling me all the benefits of the system.

Have you used Drupal? What were the pros/cons? Would you use it over Wordpress? Why/Why Not?

Thanks!

I'm working with an investment property specialist in SoCal, and he recently asked me a few questions on Multi Family investment criteria. I have a good idea of what I want but I want to hear answers from YOU guys because I respect your knowledge and want to get a second opinion.

How would YOU answer (in terms of a multi family investment) and why?

1. Would you want a property that is fully occupied or vacant?

2. Would you go with a fixer upper? In other words, are you more interested in a depleted property that has potential for higher rents once a capital investment is made to rehab each unit?

3. What is an acceptable Net Rental Yield?

4. What is an acceptable Cash on Cash Yield?

Big box commercial buildings hands down.

Single tenant, long lease, high rental income, cheap property management costs, etc.

Once a lease is signed it's a no brainer for 7 years. The monthly income could be used as a base for any other smaller investments like SFH rehabs

Thanks for the replies guys!

@ Alex- This EXACTLY what I've been looking for. After some research, a longstanding close relationship with a non-blood relative can still qualify for the Kiddie Condo Loan, which shouldn't be a problem proving with one of the investors who is also willing to cosign. I can't believe none of the lenders I talked to mentioned this. Most tried to get me off the phone when I didn't have 2 years of employment. I'm sure they get a ton of college students calling with pie in the sky house buying ideas

@ Steve- I should've clarified, I'll be in the house at least 6 mo. Part of the deal with the partners is that they would cover some of the monthly pmts the first few months. Wholesaling is definitely my backup plan but there's some meat on the bone and it would be a great first buy & hold given the location and a few other variables I haven't found in other houses in my area.

I'll keep you guys posted on the progress!

If anyone has any experience with the Kiddie Condo program definitely let me know!

I have a great SFR deal lined up that would be perfect and generate some good cash flow down the road.

That said, I need the minimal down payment offered through an FHA loan to make this work and some of the FHA qualifications I can't meet. Specifically, the 2 year employment history. I'm a student so my full time employment has been subject to my class scheduling and my part time income isn't enough to meet the required income for the house.

The deal is GOOD. Good enough that I lined up two investors to handle the DP, some of the fix up costs, and pay part of my rent for the first few months.

With the 2 investor's huge cash backing, is there any way around the employment history while still keeping the FHA loan in my name?

Thanks!