All Forum Posts by: Ricardo A Perez

@ Syed H. totally agree ! @ alex kehaya i am a new investor and been thinking the same thing. 

i am new to investing thank for sharing the mindset of success.... got dream big ! 

@Symone Fisher my pleasure to help have a great weekend as well !

Hello @ Symone Fisher Welcome to BP ! i attend a local group in Hollywood we are doing Monthly zoom meet up round tables. please visit our website https://soflorei.com 

That’s a good question I am a new investor haven’t made my first deal yet but my heart tells me my passion is people and real estate is the one thing I feel I can give back. Growing up in our neighborhoods I speak on black and brown community’s we look at owning real estate as a ‘rich white man thing’ please do not take offense I am just speaking on my experience in my community. I know see that I need to go back to the community and say no if I can you can too. So I want to be successful not just for money it’s more so the possibility of impacting the younger generation. 

@zach lemaster that’s the plan ! Stay in touch Zach. 

@Zach Lemaster good question well my primary strategy is the BRRRR so long term bank financing will come at the back end. The question was asked more for the acquisition side.Since i am not a seasoned investor i will begin with my own funds and once i get a solid track records i want to use leverage and use private lenders to finance the acquisition and rehab but as i gain experience i would be open to other forms of financing strategy's.

@Aaron K. thank you so much for sharing what you experience. it would make sense to pay your insurance premium in full if it saves you money. 

Hello BP, 

I am new to investing and practicing on running numbers daily. I have a question when buying a property cash are you required to pay the full taxes and insurance for the next year as part of your closing cost ? i ask because i own my primary residence (bank financed) and when i bought it i was required to pay taxes and insurance in advance at closing and put them in escrow. just want to make sure i am running my number correctly for acquisition. 

@Ian Walsh thanks for bringing me down to earth with the “nothing to hung up on” guess it’s newbie gitters. Thanks again Ian do you lend in MA?