All Forum Posts by: Rose Borges

Aloha Anja,

I adjusted my 401k with various Vanguard index funds. I was able to tweek it at the recommendations of www.futureadvisor.com. The changes increase my portfolio performance last quarter by almost 2%.

If you're a business owner, you should be looking into a SEP IRA. Your allowable annual contributions are much higher. Check out "The Automatic Millionaire" By David Bach as recommended by BP.

Here's to your success,

Rose Borges

Research Xeriscaping. Many solutions to fit your budget.

Here's to your success!

Rose Borges

Aloha Mike,

An FHA 203k loan may be a good fit for your buy and hold. Down payment is low, credit doesn't need to be perfect and the rehab costs are added after completed to the purchase price. The paperwork takes a bit longer and there's alot of different forms to complete during the process, but if you use an experienced loan officer it can make life a lot easier.

Here's to your success!

Rose Borges

Obtain at least 3 quotes from licensed contractors and specialty contractors. Most of them quote lump sum with a brief description of work to be done. Their quote should include the amount of time to complete as well as any exclusions, i.e. material you are supplying. Obtain quotes even for small portions of the work. This way they are accountable for the time they take to do the work. The only increase from job to job should be for distance.  I rarely hire on T&M (time and material) basis unless it's a quick fix.

Once you receive the quote, negociate on the price. This forces them to justify their cost with more details, which gives you a better understanding or justifies your request for a lower price. You can also download your State's wage rate, which will give you a pretty good idea of what hourly wage you should be paying for each trade, regardless of their union or non-union status.

Don't play the "I can get a better deal with so&so game", it never leads to a WIN-WIN. Instead, let the contractor know that you'd like to rely on him for future work. Once you've established relationships with your various contractors, they will follow you anywhere.

Here's to your success!

Rose Borges, CMQC, LEED-AP

Aloha Everyone,

My name is Rose Borges, I was born and raised here. I worked in the residential and commercial property management field for 12 years, even held a real estate licence. I transitioned into commercial construction and have worked in this industry for the last 22 years. I currently work full-time as a Quality Control Manager on federal projects and Project Engineer on State and City and County projects.

I've worked with a couple of real estate investors doing flips, research work and invested private money for other's investment ventures, but I never treated it like a business. 

My husband and I own a small unrelated business. Now I understand what it takes.

I am looking to invest in multi-family and apartment complexes. I'm good at the flips, but they're time consuming. I'm open to out of state properties as well in NV, CO, AK, WA,CA, AZ, TX, and FL.

I want to thank Brandon Turner for the AWESOME webinars and podcasts! It's like being in a candy store... well, not really but close.

Great questions and responses in the forum. Mahalo to you all for sharing.

Rose

We have a FHA 203k loan on our multi-family home. Yes, it must be your primary residence and you must live there for a required period of time. We are now at the point of refinancing to a conventional loan to get rid of the manditory mortgage insurance and purchase another multi-family property with a FHA 203k loan. I believe you can do this type of loan up to 7 times. There's alot of paperwork, but it's worth doing.

Great question Bryan H. and awesome answer Jeff, Jason and Joe. Mahalo for sharing.