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All Forum Posts by: Peter Torres

Peter Torres has started 4 posts and replied 25 times.

I'm very interested, how much? can you provide more info please? 

Post: Advice on My First Deal a New Construction 4Plex

Peter TorresPosted
  • Investor
  • McAllen TX
  • Posts 27
  • Votes 4
Originally posted by @Carson Wilcox:

looks freaking cherry to me from basic #'s....

 Thank you Carson . I'm scared to death to take the step of been a landlord...

Post: Advice on My First Deal a New Construction 4Plex

Peter TorresPosted
  • Investor
  • McAllen TX
  • Posts 27
  • Votes 4

Hello, I'm a New Investor from Texas, I found a 4 plex new construction, all units rented, Does this looks like a good deal? 

The numbers look like this:

Sales Price $430K

Income $57,600

Expenses $17,461 (30%) remember it's a new construction -

NOI $40,434

Debt Service $22,345

Cash Flow After Debt Service $18,089

Cap Rate 8.25%

Cash on Cash 13.52%

Please help a NEWBIE!!!

Post: Where to Invest I Apartments

Peter TorresPosted
  • Investor
  • McAllen TX
  • Posts 27
  • Votes 4
Thanks David, I appreciate your Input!
Originally posted by @David Acosta:

Being local to Dallas is a huge plus.  A great market that continues to grow.  I would explore options to get involved locally (partnerships, etc.) before crossing it off your list completely.  With it being a hot market, at the very lest you should be able to connect with multi-family investors/syndicators in the area who may be able to provide some guidance.

If going out of state, I think Memphis could be a great option for you.  As noted by the others, this a strong cash-flowing market where healthy returns can be achieved.  The economy is diverse, too, focusing on healthcare, biomedical research, education, transportation, distribution and logistics.  Fed Ex has made it their main U.S. hub and headquarters.  This is a market that I believe will leave you pleasantly surprised. As @Jason Hopkins and @Rashard Alomari mentioned, connect with local investors and industry folk and they should be able to point you in the right direction.  Best of luck!

Post: Where to Invest I Apartments

Peter TorresPosted
  • Investor
  • McAllen TX
  • Posts 27
  • Votes 4

@Brian Singer Thanks for your comments. I intend to build a team eventually, but  most of the people I admire, like @Brandon Turner, @MichaelSwan, @sergeshukhat, they all started PM their own properties. Have a great day!!

Post: Where to Invest I Apartments

Peter TorresPosted
  • Investor
  • McAllen TX
  • Posts 27
  • Votes 4
Thanks so much for your comment, blessings
Originally posted by @Jake Walroth:

Stay away from Cincinnati... nothing to see here! 

Just kidding, Cincinnati's a great market to invest in. PM me if you ever want to discuss the market in detail. 

Cheers. 

Thanks Andrew, 
Originally posted by @Account Closed:

@ Peter Torres, that's one awesome position to be in, best of luck to you.

Post: Where to Invest I Apartments

Peter TorresPosted
  • Investor
  • McAllen TX
  • Posts 27
  • Votes 4

@Chris Tracy Thanks so much, I really appreciate your input. Where would you invest un multifamily?