All Forum Posts by: Robert Herrera

Hit my goal of 20 properties in December, and grabbed 1 more in January for a total of 21! It’s been fun working with everyone, and I’m glad to have met some people I work with here on BP. I started buying real estate before this, but wasn’t on the buy and hold path. In a previous post, I hit 10 Properties, you can see all that through my profile page. Since then I’ve been pushing like crazy to get more CASHFLOW! Most of my properties are SFH in Pueblo CO I did purchase 1 Industrial lot in Denver / Arvada area. Was about 1 acre. Purchased for $280k. $25k down -aprx $1,500/Month for 20years. Has a power pole with outlets on the box. Paid $7k to fence the lot. Rent it for $1,000 per quarter acre. 3/4 rented for $3,000/month. $1,500/month Cashflow. $18k per year. Was one of my best deals of last year! Gaining a lot of equity monthly as well. I did find a guy who buys properties at auction, and sells them owner carry. I’ve been blessed to pick up a lot of them for $5,000-$15,000 down. These are in Pueblo as well. Cashflow is starting to get up there. I think I’ll make over $100k this year with mostly with passive income from Real Estate and my Oil Company based in Denver. Thank you all for being a part of my journey! Happy Investing Everyone!

Ann Wood I would post a 24hr notice to inspect. This is legal in Colorado and is the requirement. Then when you go inside, use RV antifreeze. Pour down all the drains and fill toilets and drain back of toilets by flushing it. Put some in the back of the toilet too. This will help save you a lot of money if plumbing problems aren’t on your insurance.

Taylor O'Leary Welcome to the Pueblo Market. It’s ripe for the fix and flip and buy and hold. BRRR strategy would be pretty good Idea as well. I just hit 21 Properties, and most are in Pueblo. Working on an industrial land deal down there right now.

Ann Wood since you’ve already contacted housing authority, I would contact them again. Ask if you will be getting a check for March. If not ask what you’re options are. They may be slightly different with housing authority involved, but it shouldn’t be hard to reclaim your property.

Ann Wood did they pay in February? They have abandoned the house. I would post a 24hr inspection notice and a 3day. She can’t store her stuff there and live somewhere else. If she didn’t give them a 30day then you will get another check. Looks like they are moving out. Take the check and leave the electric off since the electric company won’t let you do anything. If you won’t get a check, I would tell them you will evict through the court and that will cause them to lose their assistance. This usually speeds things up. Learn from the experience.

Thomas S. So if I have 4 units, the building would be bigger. That means bigger roof to be repaired. Also a bigger water heater distribution and HVAC system. How would it be cheaper if it’s bigger and would cost more to repair/replace from my point of view

Alex R. I don’t know Brokers in your area but a quick google search of Mortgage Brokers should get results. How are you supposed to finance out on a ballon payment if no one will do a fully amortized loan? Just keep searching.

Erik Sherburne Thomas S. If Cashflow and payments are equal, I would go with the duplex. Since there are 4 units, there are 4 sets of kitchens and bathrooms, as well as carpet, misc repairs. . This means twice the maintenance cost, so actually less Cashflow.

Alex R. You already have the means to do this without the seller. Just go to a Mortgage Broker. 20% down is $67k. Then you will get 30year loan with no ballon. Also, the loan company doesn’t use your income, they use the income from the property.

Jen Pothilat look for a BROKER, not a BANKER!