All Forum Posts by: Sherwin Vargas

I am also a licensed realtor i am looking for something for myself but if you have an idea or would like help searching mls let me know. 

I know they have a forgiveness loan program in certain areas of rhode islan. I just forgot the name of it exacly. Also i would check out new types of mortgages. That even if its not ypur first home they allow you to put down as low as 5 percent of a mortgage but you would have to google that. 

Sorr. if i wasnt much help 

cap rate at 9 percent? I have found a cap rate at about 11 percent in boston before renovations and we moved away because we wanted something higher. I have an investor friend who works out of boston and would only look at a minimum of 17%. 

Im jsut curious why so low. I have been looking at multi families in rhode island and most fall between 14-19 percent. 

I was looking at a multifamily (3)  it was asking 150k and rents at about 700 a piece give or take ( i have seen 800 but also 650) that would be 2100 x 12 = 25200 ÷ 150000 = around 16.5%

AM i doing the math wrong i feel like these are pretty modest numbers. I am also talking about the providence,central falls, pawtucket areas i grew up in 

Thanks again 

Hey guys,

I have been studying and learning for the past year but I am finally ready to buy It seems like alot of the multi family listings are at great prices in rhode island and am getting slightly overwhelmed with where to start. 

I been sort of following a quick rule of thumb for a 20% cap rate. just as an idea. I was wondering what other Rhode island investors use as rule of thumbs to quickly fish out bad and better investments. 

 I have been looking in pawtucket, and providence mostly. I know There are alot of quick test and rules of thumb but I am just wondering what exacly rhode island investors use. 

Thanks in advance. 

I would reccommend buy, 

My family is from that area, pawtucket to be exact. I been looking for 3 famailies. I would get yourself a good agent. It wouldnt cost you anything. That runs background checks on all potential tenants and make your you enforce a direct deposit and background checks. 

This can clear up some of the possible problems but i would def recomend it just cover your bases

thanks everyone. 

My questio. Was not a personal funance question more more asking if you were shopping for a home would the car of an agent making loud noises and being very banged up sway you from using that agent. 

Also i was approved for the very low apr. They had the paper in front of me for me to drive and take it off the lit but i decided to wait. Affordability was not the issue also i can afford the car

I have decided to wait until after i buy this multifamily i have been eyeing. 

Thank you all for your help 

Hi guys,

I know a new car is never a good investment but hear me out.

I am a part time everything Dabbled in real estate, business ownership, other types of jobs and I want to focus some more on real estate and making sales and networking. I would never want to buy or rent a house from someone whose car is making noise coming down the street.

Here is my question.

I have a 2009 ford ok car but It is all beat up after several accidents that it runs and drives great but makes a lot of loud noises while driving and turning and has a hole on the side of the car and the hood is half open.

I wont get approved for a used car loan unless at 12 or 14 percent as I am still fixing my credit from college but I do make enough money for a new car. I was planning on buying a used car 12-18 thousand dollars but one that looks nice and presentable for when I drive around clients or I have open houses. I have owned a lot of cheaper used car and am just sick of the work necessary to keep them running. Ford has a program where new drivers can put 0 dollars down and have 0 or 1.9% financing this is only for new cars.

I am thinking of doing this but just want to hear your thoughts a 22 thousand dollar car would come out to maybe 25 thousand dollars total over the 5 years of payment. but a 17500 dollar car comes out to about 26k or 27k with the interest over the 5 years.

What are your thoughts. I know new cars are never a good investment but I am really thinking about doing this. For the image as a real estate agent who is really trying to grow their business and be taken seriously.

Thanks,

Sherwin

I am a new investor and am looking for different types of investments, more creative types of investments. Today I had the opportunity of talking to a seasoned investor in Boston and he explained that the fix and flip, and even buy and old are difficult in the Boston area. He has been doing, land developments, Also buying commercial properties and building additional units on top of it. 

I was just wondering what some of the other local Boston investors are doing that would be more of creative investing instead of like the flip and fix and buy and holds.

Hi guys, 

I am looking for fix and flip and hoping to get into buy and hold in the long run. I was thinking of looking into foreclosures until I can save some funds. I would have enough for the down payment necessary, but would 30 days be long enough to find funding for the deal if it is a deal?  

It just seems that marketing is difficult on that tight of a budget. I have been telling everyone of what I do handing out business cards and flyers. I have been driving for dollars and will also definitely check out all the suggestions you guys gave me! 

I just feel little stuck 

I have read many articles on Marketing and setting up. I am a new investor in the Boston, Ma area, 

I currently have a website, business cards, and some flyers. I decided to start with a website before my first deal because I wanted it to be my 'storefront' and have a place for people to check out what I do. if you guys want to check it out its here 

Link removed

( I am Stil trying to work on changes) 

I am trying to think of where to go to next, I was thinking of doing google ads to drive more traffic to my site, I think I can afford about 400-500 a month. But I have read that google ads if better for higher ranking websites and optimized sites. If I have about 400 dollars to invest in marketing in the Boston mass area (Dorchester, Roxbury, Jamaica plain, quincy) what do you local investors think work best, what companies work best for direction mail if you suggest this.

Is 400 dollars enough for a direct mail campaign, is 300 dollars just to be sure I could commit for 6 months to a year ? I just need some ideas on what would work best in the Boston area, since I know a lot  this depends on the area. 

Thanks in advance, 

Sherwin Vargas

Thanks Christopher,

Answered my question perfectly. I did see a setting that allows me to see the callers number instead of the google voice number but then I would not be able to tell the difference between personal and business calls

thanks! 

-sherwin