All Forum Posts by: Rico S.

@Michael Cavitolo

Good morning,

Hello Mr. Cavitolo, my name is Rico from Daytona Beach, Fl. What area in Florida interest you and what type of investments are you looking to hold long term, will it be SFR or Multi-family? I am fairly new to RE but just wanted to reach out. Maybe I can be your eyes and ears on properties. If you plan on doing any rehab, I am one who can bring a tremendous amount of height. So when others need and rely on a ladder, I myself never heard of one. I can reach high in the sky where others can only dream of :-).

Cant wait to hear from you.

Best Regards,

Rico 

@Raeshelle C.

There is a fine line between waiting too long to get into real estate and getting in too early. 

If you gain the right knowledge on the particular niche you are considering you wont have to worry one bit because you will make your money going into the deal. If the numbers do not make since then move on to the next. 

I have still yet to invest but what I am doing now is constantly learning and educating myself while at the same time saving so when that deal does come not only will I be ready, but I will also be able to take action financially. And who knows, with such a good deal there are many other ways that to find capital.

If you are looking into purchasing a property and living in one a popular loan will be an FHA loan where you can put down only 3.5%. Capital is key because you want to make sure you have more then just a DP. There will be closing cost and you will also want reserves for any cap exp. FHA must be under your name and it must be owner occupied.

Best Regards, 

Rico 

@Stephen Hundley

Great posts and definitely great reads. How did you originally get into RE? What was your first deal like? Any things you learned that book or videos could not teach you? 

Best Regards, 

Rico 

@Justin Park

@Ramar Price

Well the real question is, which cost more? A bad tenant with a lease agreement of a one year term or the necessary due diligence to ensure your screening process is college proof.

Best Regards,

Rico

@Angel Moreno You are in a great position. I would also agree to go the multi-family route. I understand it will take a little longer to pay off but if you were to choose a primary home it would not provide any income unless its a multi-family. Thats what is it all about. Finding a deal where you can potentially live rent free. I believe having reserves are very important as you always want to be prepared for the unexpected. There are many different ways to go about it. Have you considered partnering with someone in your area with experience? You will have boots on the ground because you can add value by managing the property yourself. The partner can provide the support and guidance through the process.

@Jon Chittenden

How long have you been researching/learning? 

@Jon Chittenden 

Hey Jon,

What part of Brooklyn are you from?

When investing in small multi- family you do want to include all potential rents as well as maintenance, if possible, even if you are owner occupied or not. This is the most accurate way to determine if you have a good deal. If you dont account for all possible rents it will analyze poorly. Of course you do however want to make sure the property does well enough that you can live rent free or at least close to it. 

Best Regard,

Rico

@Elliot Smith

Thats awesome! I recently been trying to pick up the sport of golf! Its so challenging but I am enjoying myself. 

Best of luck!

Rico

Good day,

Very quick question. Is it possible to connect with RE agents to get in contact with local investors or is that not a good idea? 

I have learned so much information and I can tell the difference! From the start to now the information has been great! The more you learn the more you want to find out more. It never ends, and I cant thank the BP family for all the help and advice. 

One day we will all be where we want, living the life of our dreams. I now have a goal and a plan of action! Its one this to have a goal but its another to have a strategy. 

Let the games begin!

Best Regards,

Rico