All Forum Posts by: Robert Herrera

Jun Zao check Craigslist for similar ones in the area currently being offered for rent. Are you using an agent?

Jun Zao this depends. The 1%rule doesn't mean you will get that rent. That means If you do find a property with the 1% rule being followed, the numbers usually make sense. How much do these units normally rent for?

William Devine why can't you do owner financing on these mobile homes? You don't need to be a mortgage company to do that anywhere. Go to - mobile home investing.net

Ryan Oelmann you have access to his PROPERTY MANAGEMENT COMPANY! Just ask them. They will tell you how much rent is actually collected from this unit, as they have to report it to whoever does his taxes. They can tell you exactly how much each unit is renting for, and which ones are vacant. Good luck, I hope it turns into a great find.

Bill S. thanks for showing everyone how much you hate Pueblo. Thanks again for ANOTHER Pueblo "bashing" session after you said you don't bash Pueblo. You actually said you don't bash Pueblo and then bashed Pueblo in the same post. Either admit you don't like Pueblo, and will bash it every chance you get, like others have noted, or worry about where you invest and stop talking about Pueblo.

Here is some solid research on Pueblo, not just pulled out of thin air. https://www.youtube.com/watch?v=QORy-LZtNmg

Ryan Jones where do you invest? What properties do you recommend? The 15% curve has already flattened out. That house I sold has only appreciated $5,000 since I sold it. At 15% It would have to move just over $30k, and yet it hasn't.

Bill S. you're right, everyone should invest in Denver, since there are no drugs, gangs, robberies or burglaries out here. That's stuff seems to happen to people you talk to just in Pueblo http://crime.denverpost.com/crime/burglary/ Looks like burglary crime is down to 300+ a month, down from last month in Denver

Francis Dinh Only way to buy right is to buy closer to the 1% rule. That means you need to buy closer to $175k. You must at least have positive Cashflow or you will be throwing money into a money pit, year after year, hoping for a good return. Either get it cheaper or be able to raise the rent closer to $2,400/month. If the numbers don't work, move on until they do. Everything is over valued all over, that means we are near the top, if you ask me. I only buy properties that Cashflow. Appreciation is an unexpected/unplanned bonus. If you start thinking about Cashflow first, you will get that appreciation. It's just a matter of finding the right one. Sometimes there are no Cashflow deals. If anything keep building purchase money, and wait till the market drops out, then buy up the market

Francis Dinh this a Negatively Cashflowing property. You are losing a lot of money upfront. If the market crashes, which we are looking at trying to anticipate right now, you will end up underwater, as you will not be able to sustain that rate of annual growth. Also, this is no where near the 1% rule. You are hoping appreciation WILL happen, but nothing is guaranteed. If you are playing the appreciation game, you are gambling. You're holding and praying the market moves up, in the meantime you are losing money every month and every year. Also this projects rents to go up, what happens if they stay the same or fall a little bit. There is no room for error on this deal, no wiggle room for the unseen. Personally I will not buy a negatively Cashflowing property