All Forum Posts by: Richard Florestan

Rafael,

 I am also looking for investment properties in Las Vegas. I am a buy and hold investor but also interested in flips. Do you buy them wholesale? I also am looking for a good Airbnb rental in a high rise close to the strip. Feel free to reach out anytime at [email protected] 

I would love to see the multifamily and SFR you were refering to even if its not on the market. This way I have an idea of the properties you like to work in.

 Thank you and look forward hearing back from you 

Hi,

 Im very interested in this property. Can you please send me the details to [email protected]

 Thank you 

Thank you for the advice. It's a small local credit union

Hi, I'm planing on buying a few 4 unit rental properties and have been shopping different lenders that are local to the areas in buying in. I have been able to get qualified but find it amazing how different each banks loan packages are. Most of the banks I talked to want me to buy the homes under my name and then transfer it to my LLC for liability protection. How hard is it to do to get the properties transferred, expensive or things to keep in mind? My take on interest rates are they can't go down much further. I have 1 back that is willing to do 15 year fixed rate but most are 5 year balloons. I'm worried that the interest rates will be higher and turn a good deal into an ok cash flow deal. So I see a lot of upside by locking in a fixed rate. Does anyone have opinions on banking loan terms or strategies you have used with banks? Where I am right now is I am afraid of a balloon loan, would rather cash flow less and pay a little less taxes but also less interest and have them all paid off faster in 15 years. Thanks for reading

I'm a buy and hold investor in the north austin area and currently looking for duplexes all the way up to apartment complexes. Killeen, copperas cove and the areas around it is where we are most interested in. If you are a lender , wholesaler, or realtor that specializes in investor friendly real estate, please reach out. I am pre qualified at multiple small banks but would be nice to work with a local lender. I looking to be buying close to 1 million dollars this year with conventional loans. We are looking for cash flowing properties or below market properties of 70-75%. Thanks for reading and looking forward in meeting people in the area

Originally posted by @Account Closed:

I don't see costs for insurance ($$ in TX) or vacancy (~3% since it's Austin) on your list.  I get a cash flow neg of $150 after factoring that in.

Gross Rent $1,300.00

Vacancy Losses -$39.00

Property Taxes -$326.25

Insurance -$125.00

Management $104.00

Maintenance $65.00

Debt Service -$790.85

**Cash Flow -$150.10

Capitalization Rate 9.0%

Cash on Cash Return -4.97%

   HI,

How did you calculate the cap rate of 9%

 Thanks

How do I attach the file ?

Hi,

 I have been reading a lot of great forums on BP and I can up with a cash on cash spreadsheet. Im very new at this but would love to get opinions of what I have created.  Please feel free to comment on if I have left something out, or should look at something different.

 Thank you 

Hi, 

This is my first post on here and im excited to be apart of the group. I have been working all my life to get into commercial real estate as my mentor has done it for a long time now. He has a ton of small strip centers that he owns and rents out to stores. I just put my first deal under contract for 2 buildings on an acre lot for 5,600 sq ft. 2 of the 3 stores in the buildings are rented at 63 cents not triple net. I believe if we go in and put a nice sign by the road, pave good parking, and remodel inside each building I could get closer to a dollar per sq ft.

My goal for this post is- Im sure a lot of you guys have done this or thought about doing this. What is your CAP rate goal? Im in Liberty Hill, TX, a little north of Austin. Im also interested to get some insight on how you determine a great deal from an ok deal. What do you look at and what are your red flags?

 Thanks in advanced