All Forum Posts by: Randy Pineda

@Jeremy Leech me and my wife were tentative to say the least.  We had been talking about it for years.  I discovered bigger pockets and got the push to say just do it.  With regards to the deal, I put together a quick tool to analyze potential properties.  I set a lower limit of 15% cash on cash return.  In addition, the property we purchased was fully leased thru 2018.  This resulted in immediate returns.  The fact that the property was fully leased put it over the top when compared to some of the other properties at which we looked.  Probable looked at about 20 properties before finding this one.

 @RonnieHoward,  I purchased the unit in Bryan, Texas.  I live in Houston but originally from Bryan College Station area. Looking to grow my portfolio in Bryan and College Station. 

Closed my first deal last month and wanted to post a big thanks to the bigger pockets community. I have been lurking on the boards for sometime and have been listening to all of the podcasts during my commute in Houston.  This community gave me the kick in the pants i needed to jump in and get my fist deal done.  I bought a four-plex that has begun producing income!!  Getting the first rent check was a cool feeling and I can't wait to see what 2018 brings.  Thanks again Bigger Pockets.....keep up the great work, you guys are changing lives!!

Hello,

My name is Randy Pineda and I am Houston, Texas.  Been lurking on BP for a couple months and been learning so much.  My wife and I think we are ready to move on a multi family unit.  The property is a four plex.  Two remodeled units are 2 bed one bath and the other two are 1bed 1bath units.  

The building itself is in good condition.  All near hardie siding, new roof, new windows, two units have new HVAC. The whole building has been re-piped as well.  Here are the numbers:

Am I missing anything in my numbers? Any advice would be much appreciated.

Thanks,

Randy