All Forum Posts by: Ruben Banuelos

Great post with excellent advice and tips on handling the tenants. Communication and empathy is the key! 

@Namal Burman I like using RentRedi myself, but more for the organization and tracking aspects/features. However, I do like the ACH payment method that @Nathan Gesner suggested. I used that for the first few tenants I had when I was house hacking. :)  

Yes, feel free and reach out to me, and let's connect and go over some options and region-specific analytics to break down the market for you. 

I agree with @Jason Wray. Less is more approach, as well as just getting informed more about your options. However, house hacking is a POWERFUL strategy for getting your foot through the door. I would be happy to connect with you to share my experiences in multiple states (CO, CA). 

Thank you Steve! 

Hi everyone, I'm trying to connect with anyone who has done these types of loans (Assumable Loans). Can anyone point me in the direction of a referral so that we can add this tool to our real estate's arsenal of weapons to help aid our clients more efficiently? 

Thank you!

Yes actually. Check out my link I made on my IG profile: 

https://www.instagram.com/reel/Cbn-ZhqgFZt/?utm_source=ig_we...

Investment Info:

Single-family residence other investment.

Cash invested: $40,000

Garage ADU conversion with city permitting.

What made you interested in investing in this type of deal?

To increase property value and cash flow.

How did you find this deal and how did you negotiate it?

Networking with contractors and architects for design and execution.

How did you finance this deal?

Credit Cards and HELOC combination.

How did you add value to the deal?

By increasing usable square footage, I was able to re-appraise and increase the value of my home by an additional 460 square feet of "livable space" and force the appreciation of my property's value.

What was the outcome?

$24,000/year in rental income, plus $188,000 in forced appreciation.

Lessons learned? Challenges?

Permitting is a long process. Take that into consideration. Start with the end in mind.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $674,000
Cash invested: $15,000

Partnered for investment

What made you interested in investing in this type of deal?

Cash flow, with a house hacking option.

How did you find this deal and how did you negotiate it?

Found a flipper in the area.

How did you finance this deal?

Personal and partnered finance with equity sharing.

How did you add value to the deal?

Renovation(s) with partners cash investment.

What was the outcome?

Increased appraisal, increased rent pricing, increased equity.

Lessons learned? Challenges?

Unexpected pricing, having reserves is paramount!

My colleague and I are looking to expand our horizons and build a portfolio in southern IL. PM's, Lenders, Agents, and contractors, let's talk!