All Forum Posts by: Reyes Tena-Martinez

Good morning just thought I would catch up on the forum—investor in El Paso, Texas. So far, it's been a marathon for me I've had my rental for two years now and have been wanting to buy another one for the past year. Right now, I am thinking of turnkey out-of-state if the market continues at this pace because property taxes are so high in El Paso and rent growth has not increased with prices.  Unless someone can prove me wrong or advise of something I don't see it. Just no cash flow. What do you guys think would love for you to share thank you. 

Hello, been more active now that I have skin in the game. I have one property that is rented and being managed. Looking for a single-family home preferably in the 79938-zip code. I have received offers from multiple real estate agents, but the location and returns are horrible (6% returns when I can get that and more investing in the S&P 500 or a money market fund). I would rather pay more on a property than have a relationship with someone who offers me a bad deal right off the bat. If you are a serious investor or real estate agent with a presentable deal that makes us both happy. Please reach out. Have a great day and new investors be patient. I was the person who wanted to run and hurry, but I had to force myself to be patient and save no one is going to pull you out of the trenches but what you get out of them It's more exciting because you actually worked hard, and nothing was handed to you. Have a great day bigger pocket member.

I would wait and be patient. Save up the 25% other deals will come on the market. But if the returns make sense in this market, that you'll have a generous return. I would try to come up with the money as fast as possible by borrowing/credit/investors for the down payment. It just depends on the cash-on-cash return. Good luck. 

Don't expect cash flow from the deal. Are your roommates paying $1300? Also, account for vacancy rate.. roommates no longer want to live together, one unit is empty? That would be out of pocket. 

 Hello, these fourplexes are located in New Mexico. I still haven't said yes trying to get as many points of view as possible. Great question, Three years ago I was hit by a semi while on foot. I lost my leg above the knee and since then I have had a different perspective on life. Everyone is always scared to lose their home. I wanted to feel that if the unexpected ever happened again, I would always have shelter over my family's head. I can take many risks, but I will always know that if I were to lose it all. I have my life insurance waiting for me in my 1st home. You don't have to lose it all when you fail because you'll always have that one door that will always be open. So now whatever real estate investment I make good or bad it doesn't matter. I'll always come home. 

 Really appreciate the feedback. This alone is helping me a lot..

Hello, no, I ran a proforma to see where I would be at with the principal paydown, and it showed me that I would get a 25% cash-on-cash return. It is hard to get these realtors to understand it in investment form. I had two realtors tell me with a 20% down I would be making $2000 cashflow, but I don't see how they're getting to those numbers. Rent has increased 18% from this year to last year, but I believe it is because of high-interest rates. I also am contacting other apartment complexes in their area to see what their demand looks like but online I wasn't able to find any availability, so the demand is there. Property values have stayed stable.

 Thank you for the quick response.. that was including taxes and insurance. .. 

Hello again guys!! I posted about my first investment (fully paid off not to brag) and am now living in my second home. I came across a fourplex opportunity. I want a second opinion since the housing market has no clue what can happen. The numbers are as follows: The investment cost base price is $690,000, Gross monthly income is an average of $6200 per month, Fees are $2412 including 10% property management fee, Taxes, Insurance, Community Fees, and 1% Repair since the property are new construction. The location is great right next to the country club and schools. They base it on a 5% Vacancy rate and the estimated return on investment is 6% which is really low compared to the stock market or money market account for this amount of risk. There have been 30 fourplexes sold with 30 left, it is a gated community. So, the fear I have is minimal cash flow, property management would make more than the actual investor and the investor is taking the risk. It's being offered to the public investor why hasn't an accredited investor picked up this opportunity? Now the pros are the location, 30 lots have been sold meaning there is an interest in this investment. Buying a house is a lot harder than renting. I would have said no but what gets me is the location and fear of missing out and not being able to get this opportunity again, especially in a gated community. Usually, these deals are taken by the bigger investor. Ask me questions I need advice. Thank you for your time Also I would be coming in with a 20% down payment. Checked with my lender and the mortgage payment would be at $4681..

Good afternoon, 

I became a bigger pockets member a few years ago but stayed dormant due to having no skin in the game. Now I have one rental property and living in my second home. I would still be living in my rental property and just buying another rental but due to the high interest rates I just bought another home to live in on a 30-year conventional at a 7.125 interest rate with 20% down. Of course, cash-out refi in the future.  Working on saving for the next down payment on my third home. Honestly at this point and with all the forecasts going around. I will keep buying either in El Paso or turnkey. I really looking into giving rent retirement a call. I read this in a book if you're going to start a business you need to plant a strong foundation. With my first property, I hired a property manager, and after some repairs, my property was rented in a month. Property management was full services from contractors to recommendations. I pay 10% but you get what you pay for. Honestly, no headache whatsoever but the locations has to be just right. I guess now I can give some advice your rental in El Paso has to have easy access to main highways people hate traffic here, close to schools and hospitals. Like I said the culture in El Paso is people value their time.  Location Location...