Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Rico S.

Rico S. has started 14 posts and replied 125 times.

Post: Why do others cringe at multi-family?

Rico S.Posted
  • Daytona Beach, FL
  • Posts 130
  • Votes 28

Good day and Happy Friday,

My name is Rico and I am reluctant to say I am a newbie because I have done my homework and will continue to learn as education is a life long process. I know the path I want to take and I do have a plan. But I guess I am a newbie because I have still yet to get a deal under my belt. 

Last night I went to another REI group meeting and as always a ton of great information, people, and opportunities. The good news is, the BP family has lots to offer and I have learned so much hear with all the great resources. Since I joined I been reading, reading, reading, and reading. You could learn anything about anything regarding RE.

However my question is, Why do others seem to be scared about MF? 

My thinking is that they feel like its a headache or may not really understand it. They make it seem as if its the green goblin and will take everything away. Yes, there may be many risk but thats where I feel BP is so helpful because you can learn the trick and tips to keep risk and headaches at a minimum. I am very curious to hear what others have to say. 

Enjoy the holiday weekend!

Best Regards, 

Rico 

Post: 50 Life Lessons from those over 50

Rico S.Posted
  • Daytona Beach, FL
  • Posts 130
  • Votes 28

@Account Closed

Good day,

I hope all is well. I noticed that you are blogging about your journey in REI! That is awesome! I bet its been great and the fact that you are being creative to post it is neat. I will try to keep up! I am always willing to learn and hear about your journey.

Best Regards,

Rico 

Out of curiosity @Suzanne Mark, what will be the count for a small mutifamily (2-4) from 100-200k price range in your market?  

Post: 50 Life Lessons from those over 50

Rico S.Posted
  • Daytona Beach, FL
  • Posts 130
  • Votes 28

50 Life Lessons

1. Life isn’t fair, but it’s still good.

2. When in doubt, just take the next small step.

3. Life is too short to waste time hating anyone.

4. Don’t take yourself so seriously. No one else does.

5. Pay off your credit cards every month.

6. You don’t have to win every argument. Agree to disagree.

7. Cry with someone. It’s more healing than crying alone.

8. It’s OK to get angry with God. He can take it.

9. Save for retirement starting with your first paycheck.

10. When it comes to chocolate, resistance is futile.

11. Make peace with your past so it won’t screw up the present.

12. It’s OK to let your children see you cry.

13. Don’t compare your life to others’. You have no idea what their journey is all about.

14. If a relationship has to be a secret, you shouldn’t be in it.

15. Everything can change in the blink of an eye. But don’t worry; God never blinks.

16. Life is too short for long pity parties. Get busy living, or get busy dying.

17. You can get through anything if you stay put in today.

18. A writer writes. If you want to be a writer, write.

19. It’s never too late to have a happy childhood. But the second one is up to you and no one else.

20. When it comes to going after what you love in life, don’t take no for an answer.

21. Burn the candles, use the nice sheets, wear the fancy lingerie. Don’t save it for a special occasion. Today is special.

22. Overprepare, then go with the flow.

23. Be eccentric now. Don’t wait for old age to wear purple.

24. The most important sex organ is the brain.

25. No one is in charge of your happiness except you.

26. Frame every so-called disaster with these words: “In five years, will this matter?”

27. Always choose life.

28. Forgive everyone everything.

29. What other people think of you is none of your business.

30. Time heals almost everything. Give time time.

31. However good or bad a situation is, it will change.

32. Your job won’t take care of you when you are sick. Your friends will. Stay in touch.

33. Believe in miracles.

34. God loves you because of who God is, not because of anything you did or didn’t do.

35. Whatever doesn’t kill you really does make you stronger.

36. Growing old beats the alternative – dying young.

37. Your children get only one childhood. Make it memorable.

38. Read the Psalms. They cover every human emotion.

39. Get outside every day. Miracles are waiting everywhere.

40. If we all threw our problems in a pile and saw everyone else’s, we’d grab ours back.

41. Don’t audit life. Show up and make the most of it now.

42. Get rid of anything that isn’t useful, beautiful or joyful.

43. All that truly matters in the end is that you loved.

44. Envy is a waste of time. You already have all you need.

45. The best is yet to come.

46. No matter how you feel, get up, dress up and show up.

47. Take a deep breath. It calms the mind.

48. If you don’t ask, you don’t get.

49. Yield.

50. Life isn’t tied with a bow, but it’s still a gift.

Source: Addicted2success.com 

Post: New member in Daytona Beach

Rico S.Posted
  • Daytona Beach, FL
  • Posts 130
  • Votes 28

@Patrick O'Sullivan

Good morning Mr. O'Sullivan,

Hope all is well and Happy Wednesday! 

Are you an investor as well as an agent? I am fairly new but would love to know about the area you cover. 

Best Regards,

Rico 

Post: New member in Daytona Beach

Rico S.Posted
  • Daytona Beach, FL
  • Posts 130
  • Votes 28

Good day Mr. Adams,

@Solomon Adams

My name is Rico from your area. Welcome to BP! It is a great place to gain a ton of helpful information! It is exciting and with time and effort I am sure you will reach your goal. What type of investments were you looking into? 

Be sure to explore the site to get familiar. The more comfortable you are the more you will learn.

Best Regards, 

Rico 

Post: Is This Worth The Numbers??? Advice Needed Please.

Rico S.Posted
  • Daytona Beach, FL
  • Posts 130
  • Votes 28

@Account Closed

Good day

I notice your post and decided to do the math. The question I have is, what do you pay and what can the tenant pay? I am pretty sure you can make the tenant pay a few of those expenses correct? I see you applied a PM expense even though you will be managing it yourself. That is def the way to go and you always want to be conservative. However your original question was, is this worth the numbers? Just by the math you will be making around $153.43 in cash flow. Thats $25.57 per unit. You are at the one percent rule which is good but your current expenses are around 63%. If you can get your tenants to cover some of those expenses you will def get a better cash flow. 

Best Regards,

Rico

Post: FHA House Hacking DUPLEX-Options?

Rico S.Posted
  • Daytona Beach, FL
  • Posts 130
  • Votes 28

@Carlos Guzman

Seems like a good deal to get you started. Why not offer 70K? Also what if you live in the one that needs the work and increase the rent for the unit thats in better shape. While living in it you can make the necessary improvements. If that is an option you are okay with. Just a thought. 

Keep us posted. I would love to hear the outcome.

Best Regards,

Rico

Post: FHA House Hacking DUPLEX-Options?

Rico S.Posted
  • Daytona Beach, FL
  • Posts 130
  • Votes 28

@Zainab Sajid

House Hacking is a term used for an owner occupied investment. Where you are essentially living for free while getting the loan paid down and receiving  enough income to potentially cashflow. House Hacking Search

Post: House hacking

Rico S.Posted
  • Daytona Beach, FL
  • Posts 130
  • Votes 28

@Nicole Jones

Good day,

My name is Rico from Daytona Beach, Fl. I am fairly new to RE and have yet to invest however Im in my educational phase soon to take it to the next level. 10% financing with no PMI!? How were you able to pull that off? How is the management side of things? I read your profile and notice you and your fiance are soon to kick it in high gear. Would love to hear more about your experience and possibly share any advice.

Best Regards, 

Rico