All Forum Posts by: Rolando Caceres

@Tom Shallcross ahhh that makes sense. So what are the questions i should ask my HML? Any specific list?

@Jay Hinrichs im in south florida.

@David de Luna good to know David. Just making sure im not being ripped off. Even though it sounds great to me, my lack of experience may miss some stuff. Thank you!

@Stephanie P. Hi Stephanie. Would you mind elaborating more on your comment? Just to further educate myself. Thank you!

@Wayne Brooks thank you. Good to know.

@DJ M. Im glad i asked here on BP because now i know what else i should ask him. Thank you!

So i have some one who i know is legitimate and just told me what he can offer me.

His offer is i pay 10% of property and he pays the other 90% with 9%-9.5% interest. And he also pays 100% of the rehab.

Im just wondering is this common or did i just get this lucky? I dont have the savings to use it yet but id like to know your thoughts on how good wod this offer be using the brrrr method or is this better for flipping?

@Abel Curiel also any info on my question on FHA? Its at the top of my original post. Thank you.

@Abel Curiel this is exactly what i was looking for Abel. Thank you! Only thing is i see some people saying to always have a renter even before its ready to be listed on the market. But how can i find a renter (besides friends and family) if its not on the market. And even if i did find a random person why would they want to wait for my property while all the paperwork is being done and then there is rehab time after. Why wouldnt they just find another place? Once again sorry if these are bad questions but im hoping to learn as much as possible from yhe BP family. Thank you!

Hi everyone. Im a new pro member and I am so pumped to be part of the pro members team! Anyways, im trying to get all my facts organized while i save money to make my big investment for the first time. Just a quick note, i will be using the BRRRR strategy to buy my properties and putting down 20%. So my first question is should i use my FHA loan to acquire my first property (a duplex) (live there for one year) and then move out and rent the half i lived in? I ask you because if i was to refinace a year after my purchase i would be over leveraged right? So basically i just dont refinace?

My second question and the one i would like the most detailed (i appreciate it in advance) is if u can statr in numerical order what is needed to start buying your first rental property. So for instance.

1) education

2) save minimum of 20% (not using fha)

3) learn your interested area as much as possible

4) ???? Do i reach out to a realtor first or an inspector or what exactly is the order. Im sorry if this requires alot of writing but who ever is willing to make this clear to me, i thank you 10x!

***Please list everything you can imagine in order. ***