All Forum Posts by: Patricio Tellez-Giron

@emir 

@Emir Dukic, did you convert your units yo long term? how are you faring the storm? 

Thanks @Christina Carey ! We will probably be in Dayton Sunday and Monday. Let me know if any of those work for you and of not, I can move mi schedule.

Great @Federico Gutierrez I'll see you there!

I'll be in Indianapolis next week touring properties and I would love to meet with investors, contractors, wholesalers, property managers to discuss opportunities and learn about their markets.

We have projects in NC, NV, TX and are looking to expand our business to the Midwest. We are interested in both fix & flips and small multifamily.

Share your contact info or PM me and let's grab a coffee!

Have a great week everybody!

Patricio Tellez-Giron

(702) 351-1773

[email protected]

For the next two weeks, I'll be visiting Cleveland, Dayton, Columbus, Cincinnati and Indianapolis. I would love to meet with investors, contractors, wholesalers, property managers to discuss opportunities and learn about their markets.

We have projects in NC, NV, TX and are looking to expand our business to the Midwest. We are interested in both fix & flips and small multifamily.

Share your contact info or PM me and let's grab a coffee.

Have a great week everybody!

Patricio Tellez-Giron

(702) 351-1773

[email protected]

@Joe Henry There are many cities, specially in the Midwest, where the SFR market is very strong. You'll find properties that are, if not cheap, less expensive that in other mayor cities and aren't as competed; and by that I mean that you can still find great deals on the MLS any given day. In many of these markets is easy-er to get a monthly rent of 2% of what you paid for. Today, in Cleveland, Pittsburg, Columbus, Kansas City, Indianapolis, Cincinnati and many others, you can still find a great fixer upper for $45,000, rehab for $20,000 and rent it out for $1,300 (1,300/65,000=2%)

You should take advantage of the opportunity to relocate to anywhere in the country and chase after strong and more profitable deals. Having said that, it's a steep learning curve trying to figure out the particularities of every market and learning to make money in a market you don't know is quite a challenge. For this, you will want to do an extensive analysis, across all states and the different asset classes within your possibilities, in order to determine the optimal use of your money and which markets offer you the conditions for achieving your investment objectives.

Finally, an easier way to gain experience while putting your money to work, might be to find people who are already doing business successfully in a certain market and partnering/investing with them on their fix and flips, turn key or whatever interests you. You can oversee the the work and learn as the project develops. 

Now, it might not even be necessary for you to leave your city if that is the area you already know. There is always someone doing money, good money in every market; there is always someone doing a better job than the next guy, it is simply a matter of how. If you can find who is doing well in your market you can alway approach them.

There are tons of information, papers and data you can research online. I'll leave to examples here... but probably the best thing you can do is just connect with other investors and simply absorb all you can.

http://www.biggerpockets.com/renewsblog/2015/10/14...

http://www.realtytrac.com/news/home-prices-and-sal...

Good Luck!

@Tim Farrell @Account Closed please keep us in the loop and let us know if and when there is a good opportunity. I'm pretty sure that whole area will see a lot of development in the long term.

Just did. Thanks @Mike Hartzog!!

@Mike Hartzog @Dave Van Horn can you please shed some light on how one can calculate the outcome for each exit? I'm having a hard time determining the possible outcomes and the return I can expect on each one of them.

I have a small SFR portfolio and I am in a place right now where I can acquire a decent number of properties to grow my portfolio. I haven't bought any notes yet, but I'm sold on the advantages of holding notes if my main objective is cash flow. So I'm trying to weigh up all the possibilities in order to take the safest and most profitable decision in the long run.

Foreclosure, Deed in Lieu foreclosure, modification, short sale, cash for keys and resell; am I missing any other possible exit?

Just like @Gregory Walter and @Sean Webb suggested, it turned out to be a lot of trouble for 30-40 units... it would make sense if we where after 150+.

So, we'll be putting that idea to rest for now and will take a middle step before moving onto larger multi family. What I am being proposed now is to buy a 30 SFR portfolio in a great rental market and hold it for a year and sell them to 1031 for a Multi family, building credit an income in the process.

The idea is that this will give us a higher cash on cash than a mid-sized multi family and thus, higher income to show for in a year when. My worry with having so many SFR was capex, management and tenant turnover but since we'd only hold them for a year after, that shouldn't be a problem.

We'll se...