All Forum Posts by: Ronny Tiburcio

Hey @Marco Cruz I would recommend finding the property while networking with investors. Most investors won't truly commit unless they see you have something under contract especially if you are starting out. 

In term of the LLC, you can talk it out with the investor and then hire an attorney to recommend how to set up the agreement.

The number 1 thing is to get the deal first though. Everything else comes secondary is the deal is good enough.

@Robert Matos I agree with @Shain Ismailovski. Seems like it would help you get a sense for what role you want to play in real estate by exposing your self to more investors and learning from their experience. The best way to get around more investors is meet ups.

Hey Everyone,

For our upcoming meetup, we decided to focus on acquisitions and exit strategies for a potential investment. Below is the agenda for this meet up.

Networking and/or meet and greet

• There will be coffee and bagels in the morning for anyone attending

Different Exit Strategies

• Hold with owners mortgage
• Hold without owners mortgage
• Wholetale
• Wholesale
• Retail
• Flip with mortgage
• Flip with no mortgage

T.E.M.P.

• Time
• Equity
• Motivation
• Price

Deal Deep Dive

• Someone that is attending the group will break down one of their deals to the group

Q and A

• Attendees will have opportunity to ask any questions.

Pitch Session

• Attendees will be given a chance to offer any current deals or opportunities they might have.

Very loaded questions but I guess the BP community can chip away at some of the main differences. Ill throw in a couple.

1. Values

1-4 families values come from comps which are properties that are similar and are in the same area. This is a very general description. Commercial properties are based on their cap rate which is the amount of money it makes vs the amount of money it costs to keep it running. Once again, this is a very general description.

2. Financing

There are a bunch of different ways to finance properties. With 1-4 families, you have a slight advantage because you can potentially use owner occupied financing which allows you to get a loan like an FHA which is about 3.5% down and a very low interest rate. With a commercial loan, you'll probably have to put about 20% down, give or take and the interest rate is a bit higher then residential most of the time. Hope this helps.

@Thomas Berardi I would keep reaching out to different lenders. There are some lenders depending on the location on where you want to purchase and your credit line, might be able to get you a conventional 5-10% loan. I would keep looking. 

For Decembers meetup, we decided to take a similar approach to our last meet up. We realized that a lot of the people who attended our previous meetups really enjoyed the “deal deep dives” because of all the information the speakers would provide to the audience. Decembers meetup will be based around analyzing properties in different ways to utilize your time and money as efficient as possible. Below you can find an agenda with a breakdown of this week's meet up.

Networking and/or meet and greet

• There will be coffee and bagels in the morning for anyone attending

Lets run a real time analysis for each……...

• We will run a real time analysis for a Flip
• We will run a real time analysis for a Hold
• We will run a real time analysis for a BRRRR

Deal Deep Dive

• Someone that is attending the group will break down one of their deals to the group

Q and A

• Attendees will have opportunity to ask any questions.

Pitch Session

• Attendees will be given a chance to offer any current deals or opportunities they might have.

@Gilad Besterman I am originally from New York and made the move to union county through house hacking. There are plenty of deals out there. Sometimes it can be your numbers. If you like, I can take a look at some of the properties you analyzed to make sure your numbers are where they are suppose to be.

@Mark F. Congrats!!!!!!!!!!!!!!!!!!!! Super happy to hear. Good luck and let the fun begin lol.

@Kulin Dakwala My team and I host one in Rahway. Send me a message if you're interested. You can also checkout meetup.com and the events section on BP for more.

@Michael Martorella It all depends on what you want. Once you create your criteria for what you want, then it's just a matter of figuring out which markets in jersey provide the Opportunity. Another thing to keep in mind is that if someone else is doing it in a particular market, that's a sign that it's possible and you just have to find out how. 

PS- Its weird that you can't find a high cap in a place like Newark. What kind of properties are you looking at?