All Forum Posts by: Pedro Preciado

Originally posted by @Scott R.:

sounds like almost every pier and beam in Amarillo.. if they don't have issues they will.. 

 @Scott R. Thanks for the heads up.

Originally posted by @Cody Winters:

Just curious...are you buying rentals through a turn-key provider here in Amarillo?

Also, I have a great foundation guy who can give you an estimate and let you know how serious it is. Shoot me a pm for his info.

 @Cody Winters Thank you for your time, my property manager for my other rental found this property for me and it was turn key but once we did our home inspection we discovered a few issues. I ended up doing a foundation inspection with Childers Brothers and they did find some minor issues but they did say it was not a big enough issue to back out from this deal. Are you an investor in Amarillo also??

Help! I am under contract on a home in Amarillo, TX. After a home inspection I discovered that I might have a foundation issue because the inspector found a retrofit brick piers and a beam tilted out of place. How big of an issue might this be? Is this a common issue with older homes? Thanks in advance.

Hello,

I am new to investing and would appreciate any advise. I am looking into buying an investment property and would like to purchase a multi family property (duplex or triplex). My main goal is to buy and hold as long as it has a  positive cash flow.  My price range is around 150k. I currently live in Los Angeles, CA and I know I cant find anything in my price range near me. I would like to purchase out of state, I have been looking into some parts of Texas. I would appreciate any suggestions of cities that you guys would recommend and if you have any contact information of any trust worthy property managers or real estate agents to move on with my plans. Thanks in advance.

@Aaron Howell Yeah I know a couple years ago was the time to invest but I never thought about investing until now. If a four unit apartment will rent about 500 each a month and by having all of them rented out I will bring in $2000 a month from there I will be paying around $1200 with tax and insurance. With about 10% for a PM I will still profit around $600 a month, is that better than a 3/2 SFH?

Hello,

I am looking into a 4 unit apartment complex in Las Vegas. All the complex I have been looking into run around $150,000- $200,00 Does anyone have any recommendations or do not think this is a good time to invest in Las Vegas? Please help with your personal advise, I'm open to everyone's opinions. Thanks. 

Hello everyone, 

Has anyone looked into the Las Vegas market recently? Is it still a good idea to invest in Las Vegas properties? I'm thinking of buying rental property but don't know if I will  be paying too much?  I'll appreciate any advice. 

@Blake C.

 Thanks for the help, I understand where you are coming and im not planning to place all my eggs in one basket by buying only in Amarillo, but I thought this was the easiest place to start and get my feet wet just because I would be working with recommended people. Hopefully this deal goes through with all the repairs and I could start my real estate investments in the right track.  Have you thought about investing in Las Vegas, NV that is another market ive been looking into.

@Scott Thanks for taking the time to go check out the property for me and doing the visual inspection. I have requested to have the major problems repaired prior to closing and regarding the carpet it is in the contract that it will be installed prior to closing. Hopefully everything goes well. Thanks for all your help.

Scott R.

Hello,  to answer your questions, no I haven't been down there to check out the property personally, however,  I am planning to go before closing. The reason I'm investing there is because I have several Co workers investing in that area and they highly recommended the real estate agent and Property Manager  (which they are not the same people And don't work for the same company ).

As far as the pier and beam house yes I have done research in these type of houses. I'm not just going to focus in my investments in Amarillo but to start off I think this is a decent city due to having all the connections of who to contact as far as agent and PM. 

I spoke to my realtor and i am going to request to have most of the problems repaired prior to closing, hopefully this will save me a headache but we shall see. Thanks.